Leading investment management firm BlackRock has this week withdrawn 50% of its stake in the UK’s largest serviced office operator Regus Plc.
Shares were reduced from the substantial 90.8 million holding to 46.1 million resulting in a drop in share price for the provider of flexible work space solutions.
The UK-dominating serviced office giant has continued on its UK and global expansion during 2009. Notable portfolio additions include new space in the City’s Broadgate Tower development and a major expansion at the operator’s flagship Mayfair centre on Berkeley Square.
During an interview with The Times back in May CEO Mark Dixon admitted that the recession was having an impact on the company commenting: “We made a huge mistake in the last recession and that’s what’s got us in good shape for this one…..still, this is a generational recession and our business is under a lot of pressure.” However the entrepreneur was more than positive about the future of the Regus brand which he even described as becoming “Part of the National Infrastructure” (see related article below).
Regus Acquires Space at Broadgate Tower, Southampton and Nottingham
Regus Research Shows Millions Wasted on Meeting Room Hire
Regus Berkeley Square Business Lounge is Innovative and Inspiring According to Dixon
Dixon Describes Regus as Becoming “Part of the National Infrastructure” In Times Interview