MWB Business Exchange opens Bristol serviced office centre - 12.09.2006
Located on Lower Castle Street the centre extends to four floors, comprising 27,800 sq ft, and provides 254 workstations and nine meeting rooms. The centre will be re-branded as a five-star Business Exchange serviced office and the conversion will be completed later this month.
Currently the centre is 65% let, including 2,000 sq ft which is used by the Institute of Directors as its regional hub, and Business Exchange believes there is substantial opportunity to enhance occupancy levels.
Under its agreement with St Martins, Business Exchange has taken a 10-year profit lease on the building whereby it pays a proportion of the rental value together with a profit share.
John Spencer, Business Exchange’s Chief Executive, said: “This agreement represents a major step in our strategy of expanding our centre coverage in the major regional conurbations.”
The acquisition is part of Business Exchange’s current expansion programme. New centres have been opened in Cannon Street, Cavendish Square and Tottenham Court Road as well as a City Executive Centre on London Wall. Further openings are planned both within Central London and other major centres. Currently the group operates a total of 53 centres.
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.