Serviced Offices Blog


Bruntwood office portfolio increases in value but profits decline.

Posted by admin on February 10, 2011 at 12:05 pm. Filed under: Uncategorized

In its annual results, the family owned commercial property company, revealed a 4% increase in the value of its office portfolio to £948m in 2010 compared to 2009. However, net profit declined by 11% to £11.1m compared to £12.5m in 2009.

There was a 28% increase in new lettings across its office portfolio in Manchester, Liverpool, Leeds and Birmingham, and turnover was up 3% to £100.2m.

The company also reported a 3.2% increase in its net worth to £310m over the same period.

Bruntwood’s chief executive, Chris Oglesby, said: “Despite a tough market and stiff competition, we have delivered a very impressive increase in new lettings with a record year in Greater Manchester and continued success in our other three cities, Birmingham, Leeds and Liverpool, where we have attracted significant new occupiers.

“Although the market appears to be awash with bargains at the moment, on closer scrutiny, there is very little stock offering value of any quality.”

Abacus Office Finder are pleased to be able to offer serviced offices owned by Bruntwood Business Centres Ltd in the following locations: AltringhamCheadle HulmeKnutsfordWarringtonManchester,LiverpoolBirmingham and Leeds.

Read more: http://www.propertyweek.com/news/news-by-sector/offices/bruntwood-office-portfolio-increases-in-value-but-profits-decline/5012854.article#ixzz1CzRIakT9

 

Hong Kong’s prime office market is looking strong according to a report from Knight Frank.

Posted by admin on February 4, 2011 at 3:21 am. Filed under: Uncategorized

Hong Kong’s office leasing market was quiet in the traditionally low season of December, with many decision-making senior executives having left on vacation.

However, activity is expected to recover swiftly after the holidays, as the corporate sector has displayed strong intention to expand and leasing demand remains robust.

There were few headline-grabbing leasing deals in December and most transactions involved renewals, or relatively small buildings or floor plates. Value Partners committed to a mid-floor unit in Nexxus Building in Central, while AMTD Strategic Capital leased another in World Trade Centre in Causeway Bay.

Capitol Int’l leased two low-floor units in Infinitus Plaza (previously known as Vicwood Plaza) in Sheung Wan.

Abacus Real Estate are currently offering a range serviced offices in most areas of Hong Kong.

 

Encouraging news from Executive Offices Group about a market recovery.

Posted by admin on February 2, 2011 at 5:39 pm. Filed under: Uncategorized

Last week’s contracting GDP figures and gloomy economic predictions were disappointing for industry to say the least. However Executive Office Group’s own experience points to a different, much more positive outlook and with results from the serviced office sector traditionally seen as a precursor to future economic conditions, this could be good news for the wider economy.

EOG’s Q4 results further the overall growth recorded in the serviced office sector over the course of 2010 – their wider customer base grew by 20%. In the past week alone, in which healthy levels of banking bonuses marked a renewed confidence in the financial sector, they recorded their largest number of office viewings and general enquiries since 2008; over 70% of which came from individuals and start-ups operating in the financial sector.

John Drover from EOG suggests that the message to industry in the context of serviced office performance is that there is light at the end of the tunnel. With entrepreneurship and start-ups critical to economic growth, the indication emerging from this implies that there are reasons to be cheerful as we move through Q1 2011.

Let’s hope…………