While office-to-residential conversions continue to place the squeeze on the serviced office supply, one provider has revealed plans to launch a new West End office to rent right at the heart of Mayfair.
Avanta Serviced Office Group is to launch a new business centre in the Hanover Square area of Mayfair.
The new West End office to rent will provide 300 workstations spanning six floors in one of Central London’s most prestigious and sought-after locations. The office provider is currently in the process of refurbishing the space to create a contemporary, fully serviced business centre with all the high grade facilities which Mayfair businesses expect.
Speaking about the decision to launch a new business centre in the West End, Alan Pepper, CEO of Avanta Serviced Office Group, said; “This new space is a great addition to our growing West End offering. This is a market where we have had a significant presence for over seven years and demand remains robust.”
Avanta already owns one West End office to rent – One Hanover Square, which launched with 65% occupancy, and Pepper says that they expect the new centre to be “highly sought-after” too.
He also described the new centre as a milestone event, being the first business centre to launch under the newly merged Avanta Serviced Office Group.
Avanta’s timing is wise; office to residential conversions are already beginning to have an impact on the supply of office space in the West End, with a number of business centres closing.
While landlords may be keen to cash in on the lucrative residential potential of their office buildings, the West End remains a key location for businesses of all sizes. Media companies continue to cluster around Soho and Fitzrovia, while Mayfair is still a highly sought-after location among private investment companies and hedge funds.
With the launch of their newest West End office to rent, Avanta is stepping up to provide London businesses the kind of flexible space they need in one of the city’s most desirable locations.
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