MWB Business Exchange Plc ('Business Exchange' or 'the Company'), London's largest serviced offices provider, today announces that it is acquiring up to15 existing centres from the administrator to MLS and expanding its network to 73 centres. Currently Business Exchange has signed terms on 10 leases and 2 Operating and Managements Agreements ('OMAs') and is operating 3 centres under licences.
As a result of this latest acquisition Business Exchange's total workstations rises to approximately 20,000, an increase of 25% and takes the portfolio to a total of 1.75m sq ft.
All but two of the acquired centres are in Greater London and, of the remaining two; one is Woking and the other in Guildford. Following completion of the acquisition the Company will operate a total of 45 centres in Greater London and reinforce Business Exchange's position as the Capital's largest single provider of serviced office accommodation.
This latest phase in the Company's expansion has come at virtually no capital cost and will deliver exceptional growth to Business Exchange at minimal financial risk.
John Spencer, Chief Executive of MWB Business Exchange, said: 'We have been able to make a significant strategic expansion to our portfolio which further consolidates our position as London's leading provider of serviced offices. It also expands our 3-star offer at a time when SME's are seeking a value offer in this tougher economic climate.'