New Headquarters Acquired for Regional Building Society

New Headquarters Acquired for Regional Building Society

Peill & Company, the PAI member for Cumbria and the Lake District and Lancashire, have acquired a new headquarters office building on behalf of the Furness Building Society in their home town of Barrow in Furness, South Cumbria. The acquisition of Emlyn Hughes House (named after the England and Liverpool footballer who was born in the town) represents one of the final stages in the reorganization of the Furness Building Society and will be fitted out as a state-of-the-art corporate headquarters. The relocation will be a transformation from the society’s existing premises where they have been based for over 50 years and provide a far more efficient working environment for the society’s head office staff.

The Furness Building Society is one of the best regarded regional building societies in the UK and dates back to 1865 and has assets of over £800m. Simon Adams, managing director of Peill & Company commented “We were delighted to act on behalf of the senior management team at the Furness Building Society and our close working relationship has resulted in the successful acquisition of Emlyn Hughes House as a new corporate headquarters. As part of the exercise, we looked at a large number of alternative options on the Furness Peninsula in south-west Lakes including new build opportunities, conversion opportunities and existing buildings.” Peill & Company’s head of building surveying, Stuart Tolch, acted in connection with the pre-acquisition survey of the building and headed negotiations for the specification of refurbishment works and dealing with end of lease issues with the previous tenants who were relocated to other offices in the town as part of the transaction.

Refurbishment works are ongoing at the building with the new HQ due to be operational during Q2, 2019.