Belfast Telegraph

Pension consultancy firm to move into former warehouse


Exciting addition: David Wright
Exciting addition: David Wright

By John Mulgrew

A pension consultancy business is taking on two floors of the newly completed Linen Loft in Belfast city centre, it can be revealed. Spence & Partners, which has offices across the UK, will be one of the first major clients to move to the new offices on Adelaide Street. It's moving its 70 staff to the newly-renovated office.

The Linen Loft is a red brick former warehouse, dating back to 1905. It's been overhauled and redeveloped, so that each of its six storeys includes a terrace for use by future tenants. A Northern Ireland-owned financial services group, which includes pensions consulting firm Spence & Partners and professional pensions trustee Dalriada Trustees, are taking the fourth and fifth floors.

Neil Copeland, director at Spence & Partners, said: "We are delighted to be the first tenant to move into Linen Loft at such an important time of growth for our own group of businesses.

"We have been actively looking for a suitable property to expand into in Belfast, and believe we have found that in Linen Loft, with easily adaptable space that will accommodate our needs for both staff and clients.

"We look forward to moving into this pristine new space later this year."

David Wright, director of CBRE, which acted on behalf of the landlord, Redbay Developments, said the building is "an exciting and welcome addition to the grade A office stock in Belfast, and it is fantastic to see the refurbishment complete with tenants getting ready to move in".

"We worked hard to replicate a high-end loft-style office, similar to that often seen in locations in London. Innovative companies want more efficient work spaces to attract and retain stellar talent, which is exactly what this property offers," he said.

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"Going forward, refurbishment programmes like Linen Loft will prove extremely important in delivering supply into the market quickly, as well as meeting the requirements of ambitious companies like Spence & Partners and Dalriada Trustees."

There are three remaining floors at Linen Loft, with space from 4,000sq ft and upwards.

Lambert Smith Hampton acted on behalf of Spence & Partners to secure the new office space.

"When Spence & Partners approached us to help find new office space, they had a specific requirement in terms of size to accommodate future growth," Greg Henry, associate director of agency at Lambert Smith Hampton, said.

"These redevelopment projects are becoming increasingly popular and there is good demand for this style of property."

Belfast Telegraph