Debt collection specialist Lowell has officially opened a new purpose-built seven-storey office at Thorpe Park Leeds, which they have taken a 15-year lease on from the business park’s owners Scarborough Group International.
It has been described as the largest single out of town office deal ever recorded in West Yorkshire. Lowell has now completed the move of its UK headquarters from two buildings in Leeds Valley Park to the nearby Thorpe Park.
The office has stunning views across the Yorkshire countryside, as well as a bar, plush seating and sleek meeting rooms. Construction work conducted by GMI Construction began in 2021 but the scheme was under discussion before Covid.
Lowell’s operating model sees the company purchase consumer debts from organisations like banks at a discount and then engage with those who owe the money to work out a repayment plan, potentially over a period of years.
The company’s latest results for the second quarter of 2023 showed an operating profit of £724m, up 42 per cent on the same point in 2022.
Speaking to The Yorkshire Post, UK CEO John Pears said despite the impact of the pandemic on office working the company felt it was important to continue with their plans – and are already seeing the investment bearing fruit.