Prydis moves into £7.3m head office building in Southernhay

Following annual expansion at the rate of 20% year on year, Exeter-based professional services firm Prydis is moving into a new £7.3m head office in Southernhay this week.

In May 2017, Prydis, along with some high net worth investors, bought all the shares in The Senate Court building as an investment.

Now, after a full refurbishment, the firm, which offers legal, audit and accountancy, corporate finance and wealth management services is ready to move into half a floor of the four-story A grade building.

Gary Randall, Director for Prydis Group said: “Prydis has been enjoying annual expansion at the rate of 20% year on year, so we had to find a bigger building to accommodate our fast-growing business.

“We wanted to find a building that not only offered the room we need for further growth, but we wanted to stay in the heart of the city and Senate Court was the perfect fit.”

While the office move is obviously a great step forward for the staff at Prydis, it is actually also providing a great investment opportunity, as Mr Randall explains.

“We are a legal practice, accountancy practice, corporate financier and a wealth management firm all under one roof, so we were in a unique position where we were able to deal with the purchase of the new building completely in-house.

“We chose The Senate Court Building because it is one of only two purpose built Grade A offices in central Exeter – the other, The Senate, is next door. Interestingly, the day before we completed on the purchase, The Senate was acquired by Schroder Real Estate.

“The fact that both Prydis and Schroders made such similar investment decisions, completely independently, shows the strength of the proposition. It has proved to be an excellent investment opportunity to clients that wanted to invest into this sector.”

Mr Randall says the move into the new building is part of a long-term growth strategy for Prydis,

“This is a really exciting time for Prydis. We have grown significantly over the past few years, and now have more than 80 people working across our offices in Exeter, London, Manchester and Cornwall, but our aim is to have more than 100 by this time next year.

“Our new office will allow us to be able to accommodate at least 20 new staff straight away and will allow us to increase staff numbers to support the business as it continues to grow.”