Moneio on growth path after office expansion

Year Published: 2012

The owner of loan broker Moneio, which owns the Freedom Finance brand, has taken on an extra 5,000 sq. ft. lease in Atlantic House as it looks to expand staff numbers to more than 150 people.

Moneio, which also owns loans website The Lending Wizard, was advised on the deal by North West law firm SAS Daniels LLP.

The firm now leases some 12,000 sq. ft. in the building at Atlas Business Park near to Manchester airport, after taking an original 7,000 sq. ft. lease to accommodate growth plans in February this year. The firm has already grown from around 70 staff to just over 100 in that time.

James Clarke from Stockport-headquartered SAS Daniels advised Moneio on the deal and said the company is a great example of what firms with an eye on growth can achieve.

He added: “It’s great to see a company in Manchester making real progress towards its growth goal. After moving to Atlantic House earlier this year Moneio has moved from strength to strength, and securing this additional space is the next chapter in what I’m sure will continue to be a North West success story.”

Moneio is expecting to fill the new posts across the call centre, loan processing, commercial, administration and IT teams.

The firm brokered around 10,000 loans last year, a number it is expecting to grow to 13,000 in the next 12 months. It brokers both secured and unsecured loans with lenders including the likes of Sainsbury’s Bank, Moneyway, Central Trust and Everyday Loans for purposes such as loan consolidation and home improvements.

Mark Wainwright, finance director for Moneio, said: “We’re delighted to have reached this stage in our growth plan. As a firm, we spent a long time creating a niche product which fits and adapts well in what is still a changing marketplace. There’s no doubt that financial services have been hit hard in recent years, and it has taken a solid plan and a lot of good advice to make our goal start to become a reality.

“Atlas Business Park is a fantastic location to grow our business and the modern accommodation really fits with the culture we are trying to create”

To support Moneio’s continued growth in staff numbers, the firm also makes use of SAS Daniels’ dedicated human resources service, called HR Solutions, which provides expert on-site advice and support with day to day HR issues’.

Atlantic House is managed by commercial property agent GVA.

Richard Lace, Associate at GVA, commented: “We were pleased to welcome Moneio to Atlas Business Park at the start of the year and by building a strong landlord and tenant relationship we have worked closely with Mark and his team to ensure his businesses requirements could be met within the building. This second deal agreed with Moneio caps off an excellent year with over 16,000 sq ft of space let in the building in 2012.

“Atlantic House provides large efficient floor plates which can be sub-divided to meet a range of size requirements so we are confident of being able to accommodate both existing and new occupier requirements on what is undoubtedly one of Manchester premier Business Parks.”

Moneio was incorporated in 2007 as a loan comparison technology business and acquired Freedom Finance in 2009.

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