Reflecting their commitment to further growth in Cardiff, specialist motor finance provider MotoNovo Finance is expanding into a further 13000 sq ft of office space, taking over the whole of the newly re-named MotoNovo House, Cardiff Business Park.
Founded in Cardiff 40 years ago as Carlyle Finance, the business, which has recently re-branded as MotoNovo Finance, has grown consistently and today is a leading voice within the motor finance market. The increase in office space demonstrates the businesses growth objectives in the months and years ahead.
MotoNovo Finance CEO Mark Standish observes: “Our commitment to extend our existing premises reflects our continuing success in what is a challenging market. We have a rich heritage in Cardiff and are excited to be creating new opportunities for our existing team, as well as welcoming more people to our success story in 2012”.
Gary Carver, director at Savills, joint letting agents with CBRE on behalf of Lloyds Bank, commented, “The building provides good quality accommodation in what remains a popular business park in Cardiff. Cardiff Business Park is well served by amenities and public transport and this makes it attractive to a number of companies. Market conditions remain difficult. However, there is still churn activity with companies prepared to move to take advantage of the competitive terms on offer by a number of landlords”
Martin Little of DTZ, who acted for MotoNovo Finance, commented further: “The expansion of MotoNovo Finance in a difficult market has enabled us to secure favourable terms whilst maintaining business continuity and minimal disruption to existing staff. The building is now wholly occupied by MotoNovo Finance, providing a more identifiable business presence on the business park.”
Berry Smith Solicitors acted as MotoNovo Finance’s legal advisers throughout all aspects of the transaction.
Martin Pursall, partner and part of the commercial property group at Berry Smith, added, “We enjoy a long-standing and effective relationship with MotoNovo Finance and are delighted to help facilitate their growth into a further floor of what is now MotoNovo House. The deal encompassed a complicated leasing structure, which has been navigated to not only secure the new lease, but also re-gear the leasing dates for both floors and create consistency in the organisation’s rental agreements.”