• Marketplace
  • Resources
  • Business Directory
  • Events
  • Advertise
  • Brand Pulse
  • Publish a Press Release
  • Get the Newsletter
  • Contact
  • About Us
The FUTURE OF WORK® since 2003
Allwork.Space
No Result
View All Result
Subscribe
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
No Result
View All Result
Subscribe
Allwork.Space
No Result
View All Result
Advertisements
Maximize Flexible Space Revenue
Home Press

BE Offices Completes £65m Refinancing and Announces Plans for London Expansion

Allwork.Space - PressbyAllwork.Space - Press
March 23, 2017
in Press
Reading Time: 2 mins read
A A
be offices leaseback

More stories for you

Masculinity At Work Why Men Refusing To Ask For Help Is An Actual Crisis For The Future Of Work

Masculinity At Work: Why Men Refusing To Ask For Help Is An Actual Crisis For The Future Of Work

6 hours ago
What Airport Lounges Can Teach Us About Designing Workplaces People Desperately Want To Be In

What Airport Lounges Can Teach Us About Designing Workplaces People Desperately Want To Be In

1 day ago
MIT Study Warns Increased AI Use Could Weaken Brain Power Of Tomorrow's Workforce

MIT Study Warns Increased AI Use Could Weaken Brain Power Of Tomorrow’s Workforce

2 days ago
Work-related pessimism brings cascading problems. Getty Images. Fortune via Reuters Connect

Toxic Triple Threat Of Pessimism, Uncertainty, And Disconnect Is Crushing The Workforce

2 days ago

BE Offices, the multiple award-winning independent serviced offices provider, announces the completion of a £65m refinancing of its property portfolio with HSBC.

Simon Rusk, Finance Director, commented: “In the current market this is a significant achievement and we are very pleased to have the backing and support of an institution of the calibre of HSBC.”

Advertisements
Workspaces Run Better On UltraSoftBIS

Over the past two years, as part of its plan to rebalance its portfolio and prepare for future expansion, BE has repaid almost £50m of debt, reducing its total balance sheet gearing to an historic low of below 50%.

The refinancing, recent sale and leasebacks plus successful trading has enabled the Company to accrue significant cash liquidity available for the acquisition of a further five new London centres in addition to the four centres acquired last year.

Advertisements
Yardi Kube automates flex and coworking operations
David-Saul-BE-Offices
David Saul, Managing Director BE Offices

David Saul, Managing Director said: “Thanks to a successful £65m refinancing, several sale and leasebacks of centres which raised £70m and profitable trading, the Company is in its strongest financial position in its 24 year history and is able to take advantage of current market conditions to reinvest in its existing portfolio and acquire new centres across London.”

In conjunction with these future expansion plans, BE has bought back the majority of shares held by two retired founders, Colin Gershinson and Bernard Klug. The remaining shares are held by Mr Saul and Mr Rusk, the original co-founders of the business, and BE’s executive directors. This has resulted in a shareholder base focused on the successful medium to long term growth and development of the business.

Mr Rusk, concluded: “The net result of our refinancing and management buy-in is that we have dramatically strengthened BE’s financial position and at the same time provided the Company with the means for major expansion.

“Over the last three years we have taken full advantage of a strong property investment market to re-balance our portfolio and cut debt. Equally we have taken the opportunity to grow the business as demand for well run and managed serviced offices has expanded as a wide range of companies, from major corporates to start-ups, see the benefit of taking workspace on short-term and flexible terms.

Advertisements
Nexudus - Tech Stack Lovers

“We believe this demand will continue to grow as the flexible space offer becomes an integral part of the broader offices market.”

Currently BE operates a total of 16 centres mainly in central London but including locations such as Milton Keynes, Reading, Basingstoke and Bristol. Over the next two years the company is aiming to add a further five centres to its portfolio, targeting London’s West End/Mayfair and Midtown as it seeks to diversify away from its traditional City heartland.

Share5Tweet3Share1
Allwork.Space - Press

Allwork.Space - Press

The Allwork.Space Press Room enables brands to broadcast their innovations and achievements, providing a streamlined channel for disseminating news and fostering meaningful dialogue with industry pioneers and thought leaders, ensuring their participation in shaping the Future Of Work®. Submit your Press Release Here

Other Stories Recommended For You

Masculinity At Work Why Men Refusing To Ask For Help Is An Actual Crisis For The Future Of Work
Work-life

Masculinity At Work: Why Men Refusing To Ask For Help Is An Actual Crisis For The Future Of Work

bySheya Michaelides
6 hours ago

Supporting men’s mental health at work requires cultural and systems change.

Read more
What Airport Lounges Can Teach Us About Designing Workplaces People Desperately Want To Be In

What Airport Lounges Can Teach Us About Designing Workplaces People Desperately Want To Be In

1 day ago
MIT Study Warns Increased AI Use Could Weaken Brain Power Of Tomorrow's Workforce

MIT Study Warns Increased AI Use Could Weaken Brain Power Of Tomorrow’s Workforce

2 days ago
Work-related pessimism brings cascading problems. Getty Images. Fortune via Reuters Connect

Toxic Triple Threat Of Pessimism, Uncertainty, And Disconnect Is Crushing The Workforce

2 days ago
Advertisements
Workspaces Run Better On UltraSoftBIS
Advertisements
Workspaces Run Better On UltraSoftBIS

Unlock your competitive edge in tomorrow's workplace.

Join a community of forward-thinking professionals who get exclusive access to the latest news, trends, and innovations that are shaping the future of work.

©2024 Allwork.Space News Corporation. All Rights Reserved.

Exploring the Future Of Work® since 2003.

Advertise   Newsletters   Privacy Policy   Terms Of Use   About Us   Contact   Submit a Press Release   Brand Pulse   Podcast   Events   

No Result
View All Result
  • Home
  • Latest News
  • Topics
    • Business
    • Leadership
    • Work-life
    • Workforce
    • Career Growth
    • Design
    • Tech
    • Coworking
    • Marketing
    • CRE
  • Podcast
  • Events
  • About Us
  • Solutions
    • Advertise | Media Kit
    • Publish a Press Release
    • Brand Pulse
Subscribe

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00