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Business Environment Holding, the owner of flexible workspace group BE Offices, is due to see record growth this year, with turnover expected to reach £33m.
The flexible office provider has expanded with four additional central London units, equating to 106,000 sq ft of floor space, taking the total to 729,751 sq ft across 17 centres. The new centres are located in Paddington, Victoria, Euston and Canary Wharf and were acquired for £9m.
Turnover rose 7% to £24.5m from the year to December 2015, with occupancy at 83%.
Eugene O’Sullivan, Director at tenant acquisition specialists Morgan Pryce, says: “ BE Offices are an example of strongly performing serviced office providers and the market will start to see more and more flexible and serviced office providers performing well in the next few years. Post-Brexit, the economic outlook is uncertain, and as such, companies are considering flexible space because it contains less risk long term. However, landlords are becoming aware of this and shorter-term leases are available, with some offering 2 year breaks as part of their new contracts. The opportunity for flexible leases is one that will become more prevalent over the coming year.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.