Leeds - rapid growth of corporate partnership division - 14.07.2005

Marylebone Warwick Balfour Group Plc today announces the rapid expansion of its newly formed Corporate Partnerships Division following the successful licensing of more than 37,000 sq ft of Leeds serviced office space in two buildings to the NHS and Centrica plc.

The new division has been established to provide large corporates with a completely flexible approach to their short and medium term property needs. By working in partnership with major companies and large organisations, MWBEx is able to source, negotiate lease terms, and fit-out buildings without clients having to commit to either the lease or a capital expenditure programme.

This service is increasingly attractive to large companies and organisations where the recent implementation of international accountancy standards, together with capital expenditure restrictions, make long term leases an increasingly problematic issue for occupiers. In contrast, the flexible structure of a licence means these restrictions do not apply to MWBEx’s serviced office occupiers.

At Wellington Street, in Leeds city centre, MWBEX has taken a 15 year lease on the six storey 27,700 sq ft Vantage office building at £21 a sq ft and has simultaneously completed a five year licence to the NHS which will occupy the entire building.

MWB Business Exchange Plc provides five star Serviced Offices operating a portfolio of over 1,500,000 sq ft of prime office Space throughout the UK, Meeting Venues with over 250 meeting rooms, and Virtual Offices.