Hugh James advises the Development Bank of Wales on five-year lease for new HQ

28 Feb 2018 | Firm news


Hugh James has advised the Development Bank of Wales on a five-year lease for its new headquarters in Wrexham Technology Park, which the company will move to later in the year.

Partner, Richard Macphail, advised on the negotiation and completion of the lease. Richard said:

“We are delighted to have been able to assist the Development Bank for Wales with the lease of its new headquarters in Wrexham.  North Wales has been recognised as an area set for economic growth, in particular with discussions about a North Wales Growth Deal and the existing agenda of the Northern Powerhouse.  The Development Bank for Wales is now superbly placed to support this growth in addition to its existing presence throughout mid and south Wales.”

Development Bank of Wales chief executive, Giles Thorley, said:

“We’re very pleased to have secured our new HQ in Wrexham and to deliver this key component of our all-Wales location strategy. We’ve been scaling up our operations in north Wales and continue to see ambition and appetite for investment from businesses in the region, supported by a vibrant business community. Our aim is to ensure that we are well positioned to support businesses on the ground. Whilst we have been investing in our digital service offering, maintaining a local, face to face presence continues to be very important to us and to our customers. We look forward to welcoming people to the offices when they open later this year.

The full article can be found on the Development Bank of Wales website.

For more information, or if you would like any help or advice in relation to this topic, please contact our commercial property team.

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