Southampton: Grant Thornton invests in region

Leading financial and business adviser Grant Thornton is investing in a significant new facility in Southampton, reflecting its commitment to and success in the commercial heart of the region.

The firm has now signed lease terms and will be consolidating its cross-regional team into the new premises, at No 1 Dorset Street, Southampton SO15 2DP, during 2007. The move comes on the back of a number of recent successful transactions and client wins and is in response to growing demand for the firm's wide range of services to be available from the financial hub of the South Coast.

“In recent months we have completed a number of significant transactions and projects – the work on Chay Blyth’s Global Challenge, flotation of Matchtech plc, the winning of Red Funnel Group as a client , and the disposal of H Young Transport are just some of the most recent examples,” explained Duncan Swift, office managing partner for Grant Thornton in Southampton. “We have also been heavily involved in the local business community through partner David Tipple’s presidency of the Southampton and Fareham Chamber and his directorship of Business Southampton.

“Added to this, more and more of our clients now require the mixture of the business advisory services we provide from one supplier, on a one-stop shop basis. It is clear we need to concentrate our highly experienced locally based team providing financial advisory services such as corporate finance, auditing, tax and investment advice with our very successful recovery and reorganisation services, currently spread over three locations. As we extend our commitment to the region we also need space for our continued expansion – our plan is to grow by at least 10% year-on-year for the next three years. We see a great deal of further potential in Southampton and the South Coast market for our business. We will continue to provide excellent service to our existing clients and we are proud to be investing in the city."

Southampton is the centre of a successful and growing economy on the south coast. Between 1995 and 2003 the city’s economy grew by over 52%* and, together with Portsmouth, the city provides 47 per cent of all the jobs in South Hampshire’s regional economy. The airport is also a driver of growth – it currently serves more than 1.85 million passengers and this is forecast to rise to about 6 million by 2030 and so contribute £260 million to the local economy*.

Duncan Swift continued: “A strong professional and financial services community is essential to service this growing economy so it is no surprise that we have seen real growth in demand for our services. Businesses are looking for the skills and track record to deal with a range of increasingly complex business issues. We are well placed to meet their requirements, hence our decision to consolidate in the heart of Southampton and provide space for our continued growth.”

Grant Thornton is bringing together its teams from its three existing south coast facilities – Southampton, Segensworth and Poole to form a combined unit of over 150 people. Grant Thornton were advised on the property by Goadsby and on the legal aspects by Lester Aldridge.

* Source: Southampton City Council