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Pure Offices buys £5.5m Serviced Offices Portfolio
04/10/10
Pure Offices, the rapidly growing serviced office business belonging to Highcross, has bought the EES Serviced Offices portfolio from administrators in a £5.5m deal. The offices, currently trading as ESS, boast excellent locations in Oxford, Welwyn Garden City and Farnborough.
The three buildings, which are 50% occupied and total around 55,000 square feet, will be refurbished and upgraded by Pure to fit in with the high quality of its existing portfolio.
Pure Offices MD Nick Smith commented, “This purchase adds three properties with huge potential to the two large Kestrel Court buildings we bought in January and the two centres we built ourselves at Swindon and Leamington last year. Theyʼre in great locations and fit in well with our other properties.”
The business centres, which have been starved of investment for three years, will be immediately refurbished, rebranded, and managed in line with Pureʼs proven strategy: offering the best value in each of its locations and providing the highest quality communications.
“Clients are increasingly demanding and expect excellent value and service levels when they rent from us. They want flexible license terms, which we provide with our straightforward monthly rolling licenses, contemporary accommodation, and great communications. By entering the market quite recently, we have been able to tailor our service and pricing to market conditions, so the excellent value we offer is not just short term recession management - itʼs a long-term strategy. We are keen to expand the brand as quickly as possible in the South and South West, and hope to add further freehold business centres to the portfolio over the next few months,” said Nick.
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