Business Centres Direct Ltd

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

the-old-mill-serviced-offices-nottingham

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

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

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