Stanhope Business Centres Aquired By MWB Business Exchange For £11.6M

Stanhope Business Centres Lt was founded in 2003 and operations two successful 5-star serviced office buildings in London’s Covent Garden. It has 427 workstations, eight meeting rooms with a combined office space of 43,500 square feet. The two buildings are situated in Floral Street and Chandos place and have managed to attain approximately 90% occupancy levels over the past two years and has annual revenues of £4.7 million.

MWB Business Exchange Plc is currently the UK’s second biggest serviced office space provider and has announced that it is to acquire the Stanhope Business Centres for £11.6 million, which includes £1.8 million of net cash. This expansion forms part of the plan by MWB Business Exchange to expand within the Central London area in order to meet expanding demand for high quality office space.

With this latest acquisition MWB Business Exchange Plc now has a portfolio consisting of in excess of 1.5 million square foot of high quality office space, over 250 meetings rooms as well as virtual offices situated all over the UK.

Read more on the story from the MWB Business Exchange news page.

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