SAV Credit expands with London Headquarters move

Posted: Monday 16th December 2013
  • Major credit card provider moves its headquarters from Kent to Kings Cross, providing a new base for 150 staff and strengthening link with its Leeds operation centre.
  • SAV Credit will take 15,500 sq ft of Grade A office space at Two Pancras Square in second major letting for the speculatively developed building, which is now over half full.
  • SAV Credit, one of the UK’s biggest credit and store card issuers, is moving its headquarters from Kent to central London, and is leasing 15,500 sq ft of Grade A office space from the King’s Cross Central Limited Partnership (KCCLP) at Two Pancras Square.

The company is expanding its operation following the acquisition of Santander UK’s retail co-brand and point-of-sale finance business which added more than 3.5 million customer accounts and £1 billion in balances to its existing credit card business. The new headquarters enables SAV Credit to strengthen links with its Leeds operation centre and is close to key retail partners.

SAV Credit is the second tenant to sign a lease for Two Pancras Square, a building that is already over half full, despite being around six months from completion. The company will occupy the fifth floor of the Allies & Morrison designed property. Staff will have access to a large roof garden that will be accessible to all of the building’s occupants. Two Pancras Square occupies a prime position just north of King’s Cross and St Pancras International and the connectivity and accessibility these stations provide for its employees was a major factor in SAV Credit’s decision to locate at King’s Cross.

James Corcoran, Chief Executive Officer of SAV Credit said: “The move to Two Pancras Square is a significant milestone for our business. It’s an ideally located and accessible headquarters which brings our teams together from Kent and London into one location. It provides a link to our team in Leeds. And it’s a really great environment for our colleagues to work in.”

Commenting on the letting, Nick Searl of Argent (King’s Cross) Ltd., the asset manager at King’s Cross said:

“SAV Credit is an exciting, fast growing and entrepreneurial firm and therefore exactly the type of company that we are seeking to join the rich mix of occupiers signing up at King’s Cross. We look forward to welcoming the company and its staff to the area next year.”

Two Pancras Square will complete in mid-2014. King’s Cross is advised on office lettings by DTZ and Savills. SAV Credit was advised by CBRE.

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