Archant sells Norwich home to local insurance firm but will remain in building

Archant has sold its headquarters in Norwich to a local insurance company,  but will continue to remain in the building, it has confirmed.

The regional publisher will lease a floor at Prospect House from new owners Alan Boswell Insurance, which will take the other two.

News of the sale was first reported by the Eastern Daily Press, Archant’s flagship daily title, which is based in the building on Rouen Road.

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Archant’s executive chairman Simon Bax told the paper: “We have always said our intention was to remain in the city centre within the heart of our communities and close to the amenities and transport links many of our staff depend on. This view was overwhelmingly supported by staff.”

It is understood the publisher’s signage will remain on the outside of the building and that no staff have been moved as a result of the sale.

The company has been based at Prospect House for almost 50 years. It first touted a move in 2017, saying the building was “too big” for its needs.

Archant made a pre-tax loss of £7.6m last year, according to filed accounts, with group revenue down 9.6 per cent to £87.3m for 2018.

It shuttered its own printing presses in Thorpe, Norwich, in September, putting 96 jobs at risk of redundancy, as it outsourced the printing of all of its newspaper titles.

The same month Archant chief executive Jeff Henry stepped down after five years at the regional publisher.

Picture: Google Maps

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11 thoughts on “Archant sells Norwich home to local insurance firm but will remain in building”

  1. I don’t know why Archant need all these so called managers when staff numbers are being reduced and revenues are at their lowest levels ever.
    If they’re serious about cost savings then greatly reduce the number of commercial managers and convert the field sales operation which involves costly company cars, running costs,fuel,insurance,mileage, laptops,mobile phones and more and go with an online booking or call centre sales only operation.

    The old “door to door salesman” approach is vastly outdated in the modern online world we live in, generally business people don’t have the time to spend being pitched to by ad reps and an online service would be more user friendly and give total control of their advertising back to the end user, it also ticks the green less waste boxes too.

    I don’t know what the cost to keep a rep on the road is these days but with all things included it’s a substantial sum of money, multiply that by the number of ad reps and the costs for the ridiculous number of managers aligned to them and a huge cost saving could be made with little or no negative effect to the bottom line with increased profits and a leaner more effective sales structure as a result.

    Matt Kelly has gone on record himself saying customers prefer to engage online or over the phone these days so why they continue with their outdated commercial sales operation when a clear cut easy win option is available to them is a mystery.

    One sweeping change here could very well provide the cost savings and increased profitability they so desperately seek.
    To me it’s a no brainer

  2. Cutting out the useless commercial managers who infest this company would not only save space it would also save money and more importantly help lift the depressing atmosphere we work in.
    Good for nothing managers who have nothing better to do than drink coffee, smoke fags and post photos and insulting comments about vagrants opposite his office on Facebook have milked the company dry for years with salaries bonuses, perks and costly packages while contributing nothing to the business.

    Cut out the deadwood now and improve the morale of the sales people overnight!

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