Wednesday 18th November 2009

AGENTS LET FORMER OFFICE OF TROUBLED LENDER

Firms new base

The East Yorkshire office of troubled sub prime lender Cattles Plc has been let. Iridium Court in Priory Park West, Hessle, the former home of Welcome Finance, is to be occupied by a major chemical company.

The deal was arranged by Hessle based property agent PPH Commercial.

The office was purposely built for Welcome Finance in 1999, but became available after the company announced the redundancy of 400 staff in East Yorkshire in January this year.

According to PPH, the building was very quick to let as the offices benefited from being very high specification with air conditioning, raised access floors and more then 80 car parking spaces.

Nick Pearce partner at PPH said "Iridium Court has always been a first class office scheme. As soon as we were made aware that Cattles would be vacating the premises we were confident that in view of the current demand for quality, larger space in the area and limited availability, that this building would be quickly let. In the end the transaction was completed very quickly without the property being openly marketed".