Ventia announces impressive year-end figures
Serviced office provider and property consultancy Ventia Ltd. announced its year-end figures last week. In just three years of trading, the firm has managed to capitalise on London's resilient serviced office market and achieve a turnover of £4,256,290 with a net profit of £793,617.
Ventia's portfolio of boutique business centres focuses primarily on Central London, and has seen large-scale expansion since opening its first site in July 2009.
Securing six Central London sites in the last fiscal year alone, Ventia's recent acquisitions include West End's Thirty-six Soho Square, Noho's Audley House on Margaret Street, mid-town's Two John Street, and Eight Thomas Street at London Bridge. Each site is renovated to Ventia's distinctive standard.
'A solid business model'
Director Steve Baker commented: "This years profit results are up around 100% on 2012, which demonstrates a solid business model based around a bespoke service and unique, boutique office locations."
[caption id="attachment_16183" align="alignright" width="183"] Steve Baker, Managing Director, Ventia Ltd.[/caption]
Baker and co-director Dan Wheble are both veterans of the office industry with over twenty years of experience under their collective belt.
The company currently has 2,200 workstations across 18 sites in London. Half the sites are operated under management agreements, and half under a lease hold model.
"Occupancy has risen in the West End from around 92% 3 months ago to 100% now. The current positive messages from the Bank of England about growth forecasts will help build confidence further over the coming months," Baker continued.
The changing demands of many modern businesses include the ability to expand and contract space at short notice. Subsequently, lease lengths are shorter, reflecting the fluid nature of an increasingly fluid workforce.
"On average, our clients stay with us for 18 months-to-2 years," explained Baker. "We have already seen an increase in take-up. I believe this will continue to grow over the next year."
"The outlook is very positive. Our plan is to consolidate our strong position by increasing occupancy in our newest centres. Offering a well-designed Business Centre and providing bespoke packages for each business will help set providers apart as business owners become more demanding."
It was recently suggested that the serviced office market is the fastest-growing commercial property market, as a recession-busting alternative to traditional leaseholds. According to Search Office Space data, serviced workstations are a financially beneficial alternative to conventional workstations in many major world cities.