Home / Business and Economy / Arco's Hull HQ Sells for £9.2M Amid Move
Arco's Hull HQ Sells for £9.2M Amid Move
15 Jan
Summary
- Arco's Hull city centre building is on sale for £9.2 million.
- The purpose-built office opened in 2021 and cost £16 million to construct.
- Around 300 employees work at the Hull head office location.
The Arco building in Hull city centre, widely considered the city's best office space, has been put up for sale with a price tag of £9.2 million. This state-of-the-art facility, which opened its doors in 2021 after an investment of £16 million, offers 60,000 sq ft of space across five floors and overlooks the city centre.
Arco, a supplier of safety equipment and workwear, is currently undertaking a strategic review of its operations. Proposals include relocating the approximately 300 employees based at the Blackfriargate head office to a unified site at Priory Park. The company notes the building was designed for a pre-Covid era, prompting a reassessment of its workspace needs.
Should the building be sold, it will enter a nine-month lease agreement at an annual rent of £777,000. Local businesses, such as Bert's Pizza and Gelato, anticipate a potential loss of customers if Arco staff relocate, highlighting the economic ripple effect of the proposed changes.
