Avanta’s Magnificent Seven…and counting!
Avanta is a new, rapidly emerging name which is making a big impact on the serviced office market opening no less than seven business centres in prime locations across London in just two short years after being launched by managing director, David Alberto.
With a strong pedigree in serviced offices with Regus and latterly MWB Business Exchange, Alberto already has his sights fixed firmly on further expansion, with new business centre openings planned for 2007.
The firm employs 60 staff and all seven of its serviced offices London locations boast an average occupation rate of 90%, a remarkable achievement for such a young company in a highly competitive market. The vision for Avanta is to expand the current 260,000 sq ft of managed business space in London to over 1 million sq ft in the next three years, a move which could see the firm double its portfolio of London business centres. Plans are also being made to expand the Avanta brand out of the capital across the South East and ultimately nationwide. While on paper such talk may come across as highly ambitious, the company’s track record to date in turning strategy to reality, exciting times lie ahead.
Alberto believes that Avanta’s appeal to occupiers is being able to offer highly flexible, unbranded serviced office space tailor made to meet the requirements of the individual business. This flexibility is underpinned by competitively priced and transparent fixed-costs, so occupiers can account for every penny they are spending on their office needs. It is a formula which is attracting small and medium sized businesses and FTSE 250 companies alike. The theory that a small business occupier and a major corporate company want the same thing and are largely driven by location, quality and price, is central to Avanta’s business services philosophy.
A key component of Avanta’s expansion strategy is working in partnership with landlords and developers to develop their turnover rent model, where space is leased at a discounted market rate in return for a share of the turnover from its managed business space. This arrangement can deliver the landlord as much as 120% of the market rent. Avanta has recently agreed leased space from St Martins Property Corporation at One Hammersmith Grove, and with Holborn Links Ltd at 31 Southampton Row, using this model.
The workplace is changing fast and increasing pressure on business space means that corporate occupiers have to make hugely important decisions on how to best utilise their buildings. As their work space needs contracts and expands in accordance with market forces, having either too much or not enough space can have huge financial implications. In short, empty space costs money and the need to maximise every square foot of space at their disposal might be enough to give a company the cutting edge it needs in the marketplace.
Avanta has developed a unique business centre management model for corporate occupiers which would allow flexibility, reduce liability, and potentially deliver revenue from their property.
Like all the best ideas, it is very simple. The model is based on Avanta running the corporate occupier’s building as a business centre, with the occupier having the flexibility to take as much or as little space they require. The remaining space is managed as unbranded serviced office suites by Avanta. The key to this enterprise is space matching, making use of every square foot of office space and making it work for the corporate occupier.
Providing bespoke workplace for solutions for companies ranging from a one-man start up to a major corporate business is giving Avanta a cutting edge over its peers in the serviced office market, and if Alberto and his team can continue the remarkable progress, the Avanta success story has many more chapters to come.
Notes to Editors
Avanta is an emerging name in the serviced office market, with a rapidly growing portfolio of office suites in prime locations across London. The company was formed in 2004 by David Alberto, previously with Regus and former Managing Director at MWB Business Exchange. Avanta can offer highly flexible, unbranded office space, with advanced and competitively priced technology, tailor made to meet the requirements of the occupier. The company manages a total of 260,000 sq ft of office space across seven locations, with an average occupancy rate of over 90%.
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