APM Property Consultants Ltd

APM Property Consultants Ltd

December 16, 2010 05:00 ET

Outstanding First Year for APM's Flexible Approach

LONDON, UNITED KINGDOM--(Marketwire - Dec. 16, 2010) - APM Property Consultants has made outstanding progress during its first 12 months of operation claims Richard Douglas, managing director, who set up the company with Patrick Maher as part of the Avanta Group of companies in January 2010.

"Our aim was to bridge the gap between long term conventional leases and serviced office space as there's a vacuum in the commercial property to let market that's been created by a mis-match between supply and what potential occupiers actually need. As a result, we've been very successful at achieving our goal and are now actively marketing more than 190,000 sq ft across 16 different locations, the majority of which are in the City and the West End.

"We recently let 10,000 sq ft of surplus space at King Street, SW1, on behalf of a client that faced a challenging short term lease disposal, with approximately two years remaining. APM negotiated a sub-lease for the full term on an all-inclusive basis to the British Institute of Technology and eCommerce (BITE). This deal achieved substantial cost-savings for the client and, at the same time, solved a requirement for BITE to find a turn-key managed office deal that included fit-out. 

"Such deals confirm there's a healthy market for businesses seeking commercial property accommodation for one to five years and for between 20-100 people. This is a perfect match for buildings on which the lease only has a few years to run, yet are currently sitting empty.

"We are delighted with the progress that we have made during the past 12 months and with a number of exciting deals on the table we are looking forward to 2011. We also plan to double the size of our portfolio during the coming year as well as securing more medium term space for commercial tenants."

Note to editors:

Avanta Property Consultants Ltd was formed in 2010 by Avanta Managed Offices Ltd, Richard Douglas and Patrick Maher. The business acts for corporate occupiers and seeks to create return on capital investment for them by letting surplus office space and re-utilising any existing infrastructure and facilities, or by fully recovering any additional financial investment required to deliver a 'turn-key' bespoke solution for a tenant.

Avanta Managed Offices Ltd was formed in 2004 by David Alberto. The company offers highly flexible, unbranded office space, with advanced and competitively price technology, tailor made to meet the requirements of the occupier. In the UK it currently manages more than 630,000 sq ft of office space in prime locations in London, the Thames Valley and Edinburgh. It also operates one business centre in New Delhi, India and in 2009 formed a partnership with Regent Business Centers, which manage 13 locations throughout the US.

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