Business Environment Begin Expansion Programme With 14,000 sq ft on Cheapside

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Business Environment

23 Jun, 2015, 07:00 GMT

LONDON, June 23, 2015 /PRNewswire/ --

New Serviced Office Space Nearly Doubles Presence on Cheapside 

Business Environment ("BE"), one of the UK's longest established serviced office providers, today announces it has taken a further 13,374 sq ft on the sixth floor at 107 Cheapside , EC2. BE already leases 19,600 sq ft on the second floor of the building.

     (Photo: http://photos.prnewswire.com/prnh/20150622/224736 )

The new space, for which BE is paying £48.50 a sq ft, forms part of the company's stated expansion programme. It aims to steadily grow the business over the next five years and build upon its well -deserved reputation for providing good quality space with a high level of service at reasonable costs. The new lease is co-terminus with BE's existing lease which expires in November 2025.

BE will continue to focus its expansion plans within London. Approximately half of the company's 600,000 sq ft portfolio of serviced office space, comprising 12 centres, is located within the City of London. While the City continues to be a primary focus for additional centres, BE is also looking for suitable properties both in Mid-Town and the West End.

David Saul, BE's Managing Director, said: "The acquisition of this additional floor in 107 Cheapside complements our existing offering in the building and enables us to add more high quality space to our roster. This latest acquisition, as we celebrate our 21st anniversary, marks the start of a strategic expansion programme that aims to grow BE's presence in central London and build upon our reputation as a leading serviced office provider."

The landlord was represented by Savills and Hall Kemp acted for Business Environment.

NOTES TO EDITORS 

  1. Business Environment ("BE") is a unique vertically integrated serviced offices company that has been established for 21 years.
  2. BE was founded by its present Managing Director and Finance Director, David Saul and Simon Rusk.
  3. It is highly regarded and is recognised within its sector as one of the leading providers of serviced office space.
  4. It has won numerous awards for its customer service and has been recognised as being one of the best places to work, ranking for seven consecutive years in the Sunday Times 100 Best Small Companies to work for.
  5. BE operates a total of 12 business centres of which approximately half are either owned freehold or on long leaseholds.
  6. The Company has a total of 600,000 sq ft of business space.
  7. The majority of BE's centres are in the City of London with further centres in Wembley, Reading, Basingstoke, Bristol and Milton Keynes.
  8. Further expansion is planned and over the medium term BE anticipates its portfolio increasing to 20 centres with up to half the total owned freehold or long leasehold.
  9. In addition to the serviced office operation BE Group companies also includes security, cleaning, facilities management, development, IT services and asset management.
  10. BE is unusual among serviced office operators in that it has a high degree of property expertise within its senior management and Board. As a result the company is able to undertake its own redevelopments when opportunities present themselves.

Contact:
David Saul, Managing Director, Business Environment. Tel: +44-(0)20-7959-6000
Baron Phillips, Baron Phillips Associates. Tel: +44-(0)7767-444193