Serviced Office Management
Status
Ongoing
Project Type
Serviced Office Management
Project Area
3,149 Sq. Ft.
Commencement date
September 24
Financial Value To Partner Yr 1
£43,333
Financial Value To Partner Yr 2
£65,531

Project description
We were appointed to manage and maximise the commercial potential of a serviced office facility, with a key objective of improving occupancy, increasing revenue and making better use of previously underutilised space.
Our approach began with a detailed review of the building and its existing layout, identifying areas that were not generating income or were being used inefficiently. This included meeting rooms and other unbillable space that presented an opportunity to create additional revenue-generating offices without significantly increasing the overall footprint. In addition, we also improved the infrastructure and furnishings across the building.
We subsequently converted selected meeting rooms into fully serviced office accommodation, creating flexible, professional workspaces that could be marketed to a wider range of businesses. The new offices were positioned as attractive, ready-to-use solutions for businesses seeking flexible workspace without the costs and commitments associated with traditional commercial leases.
Alongside the physical changes, we implemented a more proactive marketing strategy, improving the presentation of the available accommodation and targeting prospective occupiers. We also focused on tenant experience, efficient day-to-day management and identifying further opportunities to increase the value generated from the building.
This combined approach delivered significant results. Billing increased by 51.2% from Year 1 to Year 2, demonstrating the impact of effective space utilisation, targeted marketing and proactive management.
The project highlights how relatively straightforward changes to the use and presentation of existing space can unlock significant additional income. By converting previously unbillable areas into desirable serviced offices, we were able to increase revenue while improving the overall efficiency and commercial performance of the property.
Key Details
- Location: Nottingham
- Operational Space:3,149 Sq. Ft
- Services: Serviced Office Management, Design & Planning & Outfitting
- Financial Value: £108,865
Media
Location
address
The Old Mill Serviced Offices, Canalside Ind Est, Nottingham
Key transport
Bingham
7.3 miles
Melton Mowbray
16.3 miles
Nottingham
8.3 miles
Loughborough
18.1 miles
Radcliffe Railway station
3.1 miles
East Midlands Airport
18.8 miles
Bus station
450m
Bank
415m
Hospital
350m