More and more empty property burdens across the UK are being turned into profit making assets thanks to serviced office management contracts; that is according to the latest newsletter of property and facility management company Fasset.
Fasset specialises in converting surplus corporate space into managed office and serviced office solutions, thereby creating revenue from otherwise redundant, loss-making space. The company’s September newsletter explains how more and more companies are turning to Fasset’s established business model during the recession to help make money from areas left empty due to company redundancies.
Chris Allington, Fasset’s joint managing director explains how Fasset identified the gap in the market, one which has been particularly apparent during staff cuts brought about by the downturn. He comments: “Because of the recession, companies cut back on skilled labour but are blind to property solutions that can deliver revenue to offset cost and so open up new opportunities for retaining and recruiting staff.“
A model for success, one of the latest examples of Fasset’s ability to change surplus space into revenue was seen earlier this year at Hersham Place Technology Park in Surrey. Fasset celebrated at Hersham during Spring 2009 after signing around 80 work stations with company STAMs Ltd, despite a trying property market!
Another leading company within the serviced office industry, Forsyth, has been enjoying a major expansion during 2009 after diversifying into management contracts. Like Fasset, Forsyth identified an immediate potential for management contracts to help landlords and companies with surplus space. The company reported a “boom“ in management contracts during May when David Harrop, finance director at Forsyth, said: “Forsyth’s spread of management contracts is ongoing and we anticipate making more announcements in the near future. Market circumstances are creating a lot of opportunity for our management contracts division to offer a realistic solution to landlords of properties which may not be making a return on investment due to traditional leasing costs.“
Office Space Hersham: Hersham Office Space Operator Signs up 80 Work Station Client
Office Space Portsmouth: Portsmouth Office Space Centre Now Under Fasset Management
Forsyth Business Centres Booming with Rapid Growth in Serviced Office Management Contracts
Forsyth Recruits New Staff Following Rapid Expansion and Record Turnover