Marketing agency makes six-figure buildings purchase

Purpose Media has invested £450,000 in purchasing office buildings that it had previously been leasing thanks to support from NatWest.

The full-service marketing agency, based in The Village Business Park on Maisies Way, South Normanton, already owned unit 14 and had been leasing units 16 and 18 for the last four years.

The combined space now comprises 5,000 sq ft and incorporates a variety of collaborative workspaces, meeting rooms and recreational areas for staff.

As part of an ongoing strategy to create more inherent value, the purchase was originally planned to complete two years ago, but the initial uncertainty caused by Covid-19 outbreak meant the purchase was placed on the back burner.

Business confidence, driven by the high demand for digital marketing expertise during, and since the pandemic, enabled the deal to be resurrected at the end of last year and it finally completed this month.

Funding for the purchase was provided through a commercial mortgage from NatWest, arranged by Darren Wilkinson.

Matt Wheatcroft, managing director at Purpose Media, said: “At a time when most businesses are downsizing office space we have invested in our future and in providing our staff and clients an attractive environment to meet and collaborate.

“Now that we own all the buildings, we plan to invest further by re-designing and fitting out the space to enable more hybrid styles of working and accommodate further growth in our team.”

Claudio Davanzo, creative director at Purpose Media, said: “The world of design and marketing will continue to be exciting and evolutionary, and I think Purpose Media will remain at the forefront of leading change.

“Having an attractive workplace means we can retain and attract the best talent and offer a work balance that enables people to adapt their work style according to how they work best.”