Serviced Office Industry Gears Up for Growth
As if to confirm industry expectations, weΓÇÖre already seeing fresh signs from serviced office providers that theyΓÇÖre ready to make 2014 a year of growth.
Business Environment Group, which owns and operates fourteen business centres in Southern England, is the latest to announce growth plans, after securing a refinancing deal worth more than ┬ú110m.
Simon Rusk, finance director at Business Environment, believes the deal to be ΓÇ£the largest agreement of its kind since before the financial crisisΓÇ¥ within the context of the serviced office industry.
Rusk continues; ΓÇ£We are hugely proud of this deal, which will allow us to expand and grow the business over the coming years. Given the tough economic backdrop, itΓÇÖs a sign of confidence in our business and in the serviced office sector.ΓÇ¥
Business Environment isnΓÇÖt the only company to note the confidence in the serviced office industry right now. Nor is it the only provider looking to make the most of the new opportunities that this presents.
i2 has already announced plans to launch three new business centres ΓÇô in Reading, Bristol and Milton Keynes ΓÇô in the first half of 2014. The company also recently completed the expansion of their Hanover Square business centre, adding 280 additional workstations. These latest plans continue the rapid expansion which the company has undergone since it was founded in 2009. It now has twenty-four business centres at major locations across the UK.
In a similar vein, Ventia, which specialises in the London office market is likely to continue its expansion in 2014, after finishing 2013 on a high note with a successful end of year statement and the launch of its thirteenth Central London business centre.
Also in Central London, The Office Group is to launch three new business centres, all at the heart of the KingΓÇÖs Cross regeneration project.
As for serviced office giant Regus; after its headline-making acquisition of MWB in 2013, the company has something completely different planned for this year ΓÇô the roll out of its new Regus Connect coworking concept across the first ten locations in the UK.
All in all, there are plenty of healthy signs for the serviced office industry in the year ahead ΓÇô and providers like Business Environment, i2 and Ventia are proving keen to seize the opportunity this presents.
Most importantly of all, this is good news for the ever increasing variety of businesses which call serviced office space home, by giving them more choice than ever before.
Here at officebroker weΓÇÖre looking forward to seeing all the new developments this year will bring. How about you? What do you think will be the most important development this year?