Forsyth in talks with trio of developers.
Kevin McCabe’s serviced office business is in talks to manage portfolios of Quintain Estates, Valad and a major Chinese developer.
McCabe’s son Scott said Forsyth Business Centres was targeting tie-ups were both parties would share in the turnover and profits.
The group this week signed an agreement with Quintain to manage 28.000 sq ft of void space at its Geldered Road business park in Leeds, and is in talks about further potential deals.
It has also signed a similar agreement with China’s Top Spring Group to manage 15.000 sq ft at Shenzen in South China.
Earlier this year, Kevin McCabe’s Scarborough Holdings took a controlling stake in Top Spring International Holding, a joint venture with Top Spring to focus on China.
In addition, the group is talking to Valad, the Australian property group, about opportunities across its portfolio.
Valad bought Kevin McCabe’s private company Scamp and fund manager Teesland lat year.
Scott McCabbe said:
“Management deals with flexible space providers make sense in the current climate for landlords looking to transform an empty building into an income generator instead of a cost burden.”
As reported in EG (13 September, p53), serviced office giant Regus has expressed interest in buying parts of Forsyth’s portfolio.
Estates Gazette, 04/10/2008.