Serviced Office Group to Expand Portfolio
Serviced Office Group, which operates 21 business centres around the UK with its biggest presence in London, is due to expand its office portfolio with the acquisition of Bourne Financial.
If the transaction moves ahead as planned, the deal is expected to be completed in January 2011 and will bring an extra 350 serviced workstations to the AIM-listed company – bringing their total up to 4,142.
The initial cost of the acquisition is reported to be around ┬ú600,000.
Serviced Office Group have recently announced that through strategic share-placing they have successfully raised ┬ú1m, and according to Property Week, they now plan to use the funds to develop its portfolio and increase its range of services.
“Our pipeline for serviced offices continues to be strong,” commented chairman Michael Kingshott, “and the group is currently in negotiations on a further three buildings, with the potential of adding over 950 new workstations to the business.”
Serviced Office Group continue to add new buildings to their portfolio, the most recent being a office property in Maidstone offering around 21,740 sq ft of space.
In September, the group opened a new serviced office in Knightsbridge, opposite the Harrods department store.
The building is professional and modern, and having been recently refurbished it now offers a range of contemporary features including iPad access in the reception and lounge areas, bright, open plan spaces, and a stylish finish throughout.
Chris Mapp – officebroker.com Sales Manager and consultant for the Knightsbridge area, visited the office in September and commented that it offered “good first impressions”.
“It’s an easy one-minute walk from Knightsbridge tube station,” he said. “It has a light, modern reception area and the first impressions are good. They offer fitted or bespoke space, and all the offices I saw were modern and spacious. ItΓÇÖs a great product in an excellent location!”
Chairman of Serviced Office Group Michael Kingshott commented in Property Week that the Knightsbridge addition was part of their strategy for adapting to the “ever increasing demand” of managed services.
“The provision of a complete turnkey package for office sourcing and relocation is important in a market place that seeks to reduce cost and improve efficiencies,” he said, “and we are seeing more and more enquiries for larger space for periods of two to three years, as companies seek to retain flexibility of space as well as removing unnecessary liabilities of very long leases.”
Find out more about the Knightsbridge office online at officebroker.com.