Citibase Celebrates Record Financial Year With Two New Prime London Centres

Citibase celebrates record financial year with two new prime London centres as political uncertainty brings flexible offices to the forefront for SMEs.

Citibase, one of the UK’s largest operators of fully serviced business centres, has tripled its offering in central London with two prestigious new business centres at Green Park and Victoria Palace Street. The new central London openings add to Citibase’s wider business centre network in the Greater London area with the company now offering SME Customers a choice of 18 different locations in and around the Capital. The announcements come as the company reveals record annual results and just days after the UK general election resulted in an unexpected hung parliament. The greater political uncertainty means flexible officing is even more relevant than ever, as businesses demand flexibility rather than long term lease commitments.

The centres, in addition to the company’s premises at Millbank in Westminster, mean that Citibase now offer small and medium sized businesses the choice of three prime locations in the heart of London. Citibase has also posted impressive annual results with earnings (EBITDA) up over 23% to nearly £2.5m and total revenue up almost 7% to £21.25m. The company now employs 140 people and offers 36 fully serviced business centres, from Aberdeen to Brighton.

Citibase CEO Steve Jude commented: “This is a hugely exciting period for us as we triple our presence in the heart of the capital at a time when our business has never been healthier or more relevant. Our record fiscal results mean we are in a good position to broaden our offering to London businesses, who, after the shock election result and political fun and games which are following, more than ever before don’t want to be shackled to long-term commitments. As I’ve said many times, the world of work has changed forever, but the way we view office space is also changing. This has resulted in huge growth in flexible workspace, which will only be heightened by the political mayhem triggered by the election.”

Citibase London Green Park is situated in a peaceful Mayfair street, and will provide over 300 workstations for businesses. Occupants benefit from a prime position less than a minutes’ stroll from leafy Green Park and bustling Piccadilly with workspace that offers excellent value for money, especially for such a prestigious location.

The unique Shepherd Market, a charming square packed with restaurants, bars and boutiques is also nearby and is ideal for a post-work drink or business entertaining in a wonderfully relaxed village-like atmosphere.

Citibase London Victoria Palace Street is housed in a stunning Edwardian building within Victoria’s prestigious Palace Neighbourhood. The centre, which will offer up to 240 workspaces, is undergoing a comprehensive refurbishment in the style of a boutique hotel to provide modern state of the art offices with superfast internet, whilst retaining many unique period features.

It is conveniently located in a quiet street in the Birdcage Walk Conservation Area yet just moments from one of London’s biggest transport hubs, Victoria Station, making it ideal for rail, tube and bus commuters, with Gatwick Airport just half an hour away by train.

Both centres enjoy superfast broadband with a range of internet and telecoms packages as well as reception and Concierge teams with friendly business support services and 24-hour access.

Steve Jude said: “Our expansion in London cements Citibase’s position as a leader in flexible office solutions for London’s vitally important small business sector. We can now offer SMEs a base in some of the most prestigious areas, whether they are looking for a Park, Palace or River location – on flexible terms that suit them. We offer a complete range of styles and prices catering to the requirements of every type and size of business. Businesses crave flexibility in times like these, when the world of politics has been turned on its head, and upcoming Brexit negotiations signal even more uncertainty in the years ahead.”

These openings come at a time of greater demand for flexible space, with the latest Citibase Business Confidence Index which surveyed over 1,100 SMEs across the UK demonstrating SMEs’ desire for the flexibility offered by Citibase for short-term office contracts. Two thirds of managers and directors surveyed in London saying they prefer a term of less than three years.

For more information visit www.citibase.com

About Citibase

Citibase offers fully serviced business centres for cost-conscious SMEs in over 40 locations nationwide. Their unique disruptive business model brings together both clients and customers. Over the last 24 years they have been commissioned by some of the largest and smallest names in the UK property market to help execute a plan for their under-utilised office space.

They provide solutions to property owners, by taking over the management of the building, allowing building owners to generate a cash income from secondary office space with minimum stress whilst providing SME customers with cost-effective office solutions.

Citibase also offers building owners with short-term voids a smart way of enjoying the hassle-free cash which only Citibase can generate by launching one of their unique pop-up business centres. It’s easy-in and easy-out, and Citibase will manage the entire process.

Citibase concentrates on town and city centre locations. Founded in 1993, the business has at its heart the ‘Freedom at Work’ philosophy; a deep-routed commitment to support and nurture cost-conscious SMEs whether they are setting out for the first time or taking bigger steps on the path to growth. Being in a Citibase centre gives SMEs the independence to be freed from expensive rents and rates, inflexible terms, service charges, hidden costs and corporate restrictions. By taking the stress of running a building off business’s hands, Citibase allows SMEs to focus on growing a successful business.