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The giant of the serviced office world, Regus is now acquiring more space than ever, and is currently looking like the most serious party in consideration to buy 31 Basepoint Business Centres.
The deal is thought to be worth the substantial sum of £100 million, and the space will total around one million sq ft; increasing the firm’s portfolio to more than 340 centres – over three times the number operated by any other provider.
Fraser Williams – London leading’s Chartered Surveyor and Director at Morgan Pryce, explains; “The serviced office sector is exploding. The uncertainty caused by Brexit is actually strengthening the market, because many start-ups and SMEs are no longer taking up long leases from landlords.”
Most of the Basepoint Centres are located in the South East, with the most profitable being a mix of offices and light industrial units. They are also freehold, which fits with Regus’ long-term strategy to increase the proportion of freehold assets in its portfolio relative to leasehold. Having bought Avanta last year, and having previously acquired BusinesSuites and MWB, Regus’ likely acquisition will increase the group’s dominance, and potentially put them in the leading market position.
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.