Avanta buys out Kenmore

Avanta Managed Offices is now 100% owned by David Alberto and the senior management team following a deal which has seen the company buy back the share of the business previously held by Kenmore. At the same time the serviced office operator has agreed new banking facilities with its banks.

Commenting on the deal, Managing Director, David Alberto, said, “We are obviously very pleased to buy back Kenmore’s interest in Avanta, whilst agreeing new banking facilities which provides Avanta with a solid financial platform going forward.

“We’ve enjoyed a good start to the year with record levels of enquiries and viewings that have helped us achieve solid occupancy levels of 88% across the portfolio. We are trading ahead of forecast for 2011/2012 which gives us a positive outlook for the coming year as revenues continue to grow month on month”.

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