Capital move for Prospect Business Centres

Published November 09 2011 by

SERVICED office provider Prospect Business Centres is aiming to capitalise on the buoyant London property sector by opening its first centre in the capital.

The company, owned by property firm Monument Investments, operates three centres in Leeds and York, and is also in extended negotiations to open centres elsewhere in the UK.

The company’s first London centre is to open at Becket house, in Old Jewry, in the heart of the financial district.

It will provide 20,000 sq ft of high-quality serviced office accommodation for up to 200 desks. The flexible office units will range in size, accommodating from two to 200 desks.

Prospect has agreed a 10-year deal on the space.

Warren Hill, managing director of Monument Investments, said: “In the current economy it makes sense to focus on the most active and buoyant markets and locations and deliver the best product under a strong brand rather than targeting the slower growing provincial markets.

“We have a proven product and business model, and by looking at the most vibrant cities, investing in first rate centres and giving the best service we will continue to carry on attracting the best tenants. This has now led us to looking into opening centres in Europe’s other financial districts as well as London.”

Charlie Cudworth, managing director of Prospect Business Centres, said: “Our tenants like our independent business attitude, the amount we are investing in the buildings and the specification of everything from IT and telecoms to the latest green air conditioning systems and waste recycling.

Mr Hill added: “We have moved from an owned outright model to a leasehold one to make sure we can take advantage of our momentum in the market, as well as enabling us to work more collaboratively with landlords who are sitting on great but empty office buildings.

“We are now working on numerous opportunities in other European cities, and expect to be able to announce more progress imminently.”

Prospect Business Centres was advised by Marie Pugh of Leeds law firm Clarion.

Capital move for Prospect Business Centres