Moving Up: BCA Award Winner Landmark Plc Announces Impressive 92% Retention Rate

Moving Up: BCA Award Winner Landmark Plc Announces Impressive 92% Retention Rate

Landmark Plc - 125 Old Broad StreetEvery business centre and flexible workspace operator strives for a high occupancy rate. And what's more important than attracting clients to your office space? Keeping them.

Landmark Plc, the current holder of the BCA's Business Centre of the Year Award (2013), has perfected the art of attracting clients to its London business centres.

In November last year the company announced that its new Mayfair workspace was already 50% let before its official launch - a feat that demonstrates Landmark Plc's clear understanding of its clients' needs.

And with a retention rate of 92% across its portfolio of five business centres, it's evident that the company's understanding of its clients extends much further than merely putting ticks in boxes. Notably, it attributes its high retention rate to its laser focus on client-led service provision - stating that "exceptional standards of client service is an absolute priority".

So when your collective workspace is almost fully occupied, and the majority of your clients choose to stay with you, where do you go next?

The answer, according to Landmark, is up.

Specifically, the company has recently acquired a new floor located above its existing business centre at 125 Old Broad Street, based on floors 6 and 7.

The new space launches in May and in typical Landmark fashion, 6 new occupiers have already signed for the extra space, resulting in a 77% occupancy rate.

"Quick decision"

"Due to the continuous success and heightening demand for high-end serviced office space, it was a quick decision to add the 8th floor of 125 Old Broad Street to the Landmark Plc portfolio," commented Richard Gill, managing director of Landmark Plc.

According to Richard, 125 Old Broad Street, based on the site of the Old Stock Exchange, is a popular location in the City that has "always achieved healthy occupancy and retention rates".

This sentiment is confirmed by Dan Brown of Jones Lang LaSalle: "125 Old Broad Street is one of the most popular locations in the City," he said. "The level of fit-out is outstanding and the rates are extremely competitive - which explains the high levels of occupancy.

"Landmark Plc sets the standard for serviced offices in the London market. I personally am delighted there is more space available in the building as it is a location that many occupiers want to view."

Landmark Plc now manages 1,935 workstations across 145,756 sq ft in Central London. The company counts a large number of high-profile corporates among its client base, including Barclays Bank Plc, Co-operative Group, Deutsche Bank, Goldman Sachs and Hiscox Underwriting Group.

As we saw last September with the launch of Landmark Plc's Mayfair location and new West End 'group', it is this clear understanding of the complex needs of corporate clients that continues to elevate Landmark Plc's status as a leading operator of high-end flexible workspace.

It's therefore little surprise that the company has growth on the agenda and is targeting £20m+ turnover in the financial year 2014/15. Where will the company be at that time? Given its 14-year proven track record, high levels of occupancy and impressive retention rates, we can only assume that this exceptional operator will continue to move in one direction: up.

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