Bradford based health cash plan provider, Sovereign Health Care, has announced its completion of the purchase of The Waterfront, a modern four storey purpose-built office building, located adjacent to Salts Mill and the Leeds and Liverpool Canal.
The purchase marks the latest chapter of Sovereign’s 150-year history in the Bradford area. It follows Sovereign Health Care’s late 2022 relocation of its headquarters from Royal Standard House, Manningham Lane, to the historic market town of Shipley, to better support its business needs and employees’ health and wellbeing.
Chief Executive, Russ Piper, said: “The pandemic and the changes to how we work highlighted our need for a modern, open plan environment with improved technology, offering space and facilities for increased collaboration and new ways of working. The Waterfront building offered all this and more.
“Following our relocation, the opportunity to purchase The Waterfront has also allowed us to diversify into other business areas whilst utilising our capital reserves effectively. We are in the process of selling Royal Standard House, so the net cost of moving has been quite small. We are now proud owners of The Waterfront, providing first class office accommodation in a thriving Bradford business community, which has the potential to generate healthy capital growth whilst increasing our investment income.”
Sovereign Health Care’s purchase of The Waterfront been supported by local business partners including Gordons LLP, Eddisons Chartered Surveyors, Naylor Wintersgill and the Ultimate Group.
Nick Chamberlain, commercial property partner at law firm Gordons, who advised on the purchase, adds: “It was great to work in partnership with the Sovereign Health Care team and the other professionals involved to secure the acquisition.
“Gordons and Sovereign Health Care are both advocates of taking a collaborative approach to deliver the best outcomes. The purchase of The Waterfront ably demonstrated the effectiveness of this way of working together.”
John Padgett of Eddisons commented “We are delighted we were able to conclude negotiations swiftly with the vendors to facilitate a smooth relocation to the Waterfront, which provides the undoubted quality of environment our client demands for their people and offers great opportunities moving forward. We have also successfully arranged a sale of Royal Standard House and this will ensure jobs and investment both for Bradford and Shipley. Working with Sovereign Health Care and their other professional providers has been a joy and very rewarding.”