Insurance Revolution, which specialises in insurance for fast-food delivery and courier companies, has expanded its presence in Manchester.
A 8,460 sq ft space at Citygate in Castlefield will become the firm’s new head office after it acquired the property out of administration for £1m.
The move will see 50 employees relocate from Boulton House on Chorlton Street.
Insurance Revolution, which is part of the iRevolution Group, said it plans to invest up to £200,000 to create a modern, Covid-secure workplace which will include a private gym for staff.
Chief executive Mark Rigby said: “The business has achieved year on year growth since it was established in 2012 and we’ve seen a significant uptick in recent months in our core market of food delivery and courier services due to the change in consumer habits as a result of Covid.
“Acquiring a city centre property and creating a new head office has been a long held aspiration and is key to helping us create the best possible working environment for our people and achieve our ambitious expansion plans.
“Citygate is the perfect location and provides twice the space we previously had, space we will certainly need as we expect to double our staff numbers again in the next few years.
“It is close to the A57 , Metrolink and Deansgate station, it comes with its own parking spaces and most importantly is just a short walk from the city centre amenities for our staff.”
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The acquisition comes after the company worked with Cowgills Property Finance team to secure £825k funding from Yorkshire Bank.
David Rainford, Cowgills Property Finance director, said: “It has been a pleasure to play a part in this significant milestone for Insurance Revolution and get this deal across the line in what remains a challenging funding market.
“It is testament to the strength of the client’s business and I look forward to seeing their continued future growth.”