Reflex acquires new property
Reflex, who were incorporated in the summer of 1999 and who provide managed office space in London were ecstatic about their acquisition. Situated in Eastcastle Street, the company provides office space with a personal decour. Many of their buildings are situated in tasteful, contemporary buildings which appeal greatly to clientele wishing to get away from the more generic serviced office buildings.
The recent acquisition of a new building is testimonial to their success in the managed office space industry, especially in the light of reports throughout the months of May and June that office space leasing had doubled. Figures released in May in the new Central London Monthly Overview report from CB Richard Ellis, showed that the leasing of office space across the month of May rose to 777, equivalent to 900 square feet, a statistic that is 24 per cent higher than at the same period in the previous year. British Land also confirmed this through new figures which showed that the rental price for office space in offices located in Central London had increased continuously over the course of three consecutive financial quarters.
This had led to businesses in search of office space being told to consider searching outside of London as rents spiraled thanks to a combination of growing demand and a shortage of commercial property. Searching out a building with an adequate amount of office space outside of London may now be far more cost effective for the great majority of businesses, at least according to the British Council for Offices (BCO) Urban Group.
According to Lambert Smith Hampton, research conducted suggests that not since 2004 has investment in the West been at such a low, falling to just £228,000,000 as detailed in the UK Investment Transactions (UKIT) report for the first quarter of 2011. “Despite there being some cash rich investors in the market, the lack of available prime assets caused subdued activity,” says the chief executive officer and head of Capital Markets at Lambert Smith Hampton, Eric Nahome. “Many banks and UK institutions have already sold prime assets in Central London and those that do still own such assets do not feel any pressure to sell them because when such assets do come on the market they are achieving strong sale prices.”
Activity in the market had dropped to such low levels that that yields for offices in Central London have now witnessed an increase of 30 basis points. In Central London, yields averaged around five and a half per cent in the year’s first quarter.
A big part of Reflex’s success (http://www.reflexsolutions.co.uk/) was their ability to conclude that demand for serviced space may be simplified to cater to a more cost conscious market, seeking managed rather than serviced space. (http://www.reflexsolutions.co.uk/about_us/)
Reflex’s service offering (http://www.reflexsolutions.co.uk/our_services/) differs from many others featuring in the industry. Unlike many serviced office providers, Reflex found that many SME and start-up clients did not utilise the additional services available at Serviced Office Centres, such as extensive conference facilities, secretarial support, translators, photocopiers and faxes. Reflex recognised the gap in the Serviced Office Market and provide high quality accommodation only, keeping their service offer simple.
Reflex was incorporated in the summer of 1999 and following a detailed assessment of the Serviced Office market, Reflex concluded that demand for the type of product currently available may be simplified to cater to a more cost conscious market, seeking Managed rather than Serviced space.
Reflex determined that many of the SME and start-up clients did not utilise the additional services available at Serviced Office centres, such as extensive conference facilities, secretarial support, translators, photocopiers and faxes.
Serviced Offices charge for these services on an "as and when" used basis, however, the associated costs have to be recouped from the client within the licence fee, irrespective of whether the client has had use of the facilities. The operator has to cover lost revenue due to wasted space i.e. areas for which they pay rent and rates for but are unable to generate an income from such as corridors and staff/administration areas.
The highest overhead for Serviced Offices save for rent, is the staff cost.
Reflex recognised the gap in the Serviced Office market -- to provide high quality accommodation only, to keep the offer simple and only manage the office space.
Maintenance of the buildings is carried out in house.
There are no Reflex personnel on site and the IT and Telecoms infrastructure, with ongoing network support, is the area of focus for Reflex.
Head office address:
34/35 Eastcastle Street
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Reflex acquires new property here
News-ID: 182327 • Views: 1730
More Releases from Reflex Solutions
Serviced offices – are they the solution?
A serviced office is an office which is fully equipped and looked after by a facility management company, which leases out individual offices to different businesses. Serviced offices are generally found in the business districts of large cities around the world. An intermediary will often help building owners and management companies to let office space. Various clients are attracted to serviced office space for differing reasons. In many circumstances large companies
More Releases for London
XTM LIVE London starts soon
XTM International, the company behind XTM Cloud — the award-winning translation management software, is hosting XTM LIVE on May 20-21 in London. Over the two days, all attendees will have a unique opportunity to learn and discuss about the latest developments in translation and localization as well as connect with industry peers. This year, the event features 14 power talks, 2 open panel discussions, 2 tracks of training, 4 break-out sessions
Smilepod :– Making London Smile!
People often say it is hard to find a dentist you like in London. You want a convenient London Dentist, which provides friendly and professional dental care in an inviting and caring environment. This is the ethos behind Smilepod. All of their 6 centrally located dental practices are within 5 minutes of a tube station. They understand that Londoners are busy and don’t want to miss work to see the
SEO Agency London
FirstRank is a leading digital marketing agency based in London, offers Website Development, Search Engine Optimization and Social media marketing service. we provide seamless growth for your business with our digital marketing services and solutions. Our highly competent teams are constantly adding the smile to the faces of our clients. Digital marketing is an investment and our digital marketing Agency focus on returns. In 2012, we started as a SEO company
Off to the Paralympics with 15,000 spare parts Ottobock, the medical equipment company, is preparing for a large-scale operation at the Paralympic Games in London (29 Aug. to 9 Sept. 2012). Some 4,200 athletes are expected at the second largest sports event in the world. In order to ensure technical service for them, Ottobock is sending 78 orthopaedic technicians from 20 countries. The first vehicles are already transporting 9
Study English in London Today
English is a globally used language and the official language of the business world. In this day and age, its importance is more profound than ever and can help an individual in their education and future employment. This is why GBCL Global is focused on helping students who want to study English and what better place to study it then London, capital of a country where the language originated from.
London House Prices Fall
Property agents in London have reported a record gap between asking prices and actual sales prices. According to analysis by agents Douglas & Gordon, which compared the asking prices on the Rightmove website with those logged on the Land Registry, there is now an average £79,000 gap between the two figures. This compares with a gap of £6,574 in 2003. Buyers now routinely offer £50,000 or more beneath