Avanta agrees second turnover deal on Holborn serviced offices 

Avanta has added to its portfolio of managed business space by taking 20,000 sq ft on 31 Southampton Row, Holborn, in an innovative turnover leasing arrangement that could give building owner Holborn Links Ltd up to 130% of market rent.

The two companies have agreed a 40% discount off the market rent, in return for Avanta giving Holborn Links Ltd a 40% share of the rental income from letting the offices as managed business space.  

The agreement is the second of its kind following Avanta’s recent agreement with St Martins Property Corporation, from whom the company recently leased 39,000 sq ft at One Hammersmith Grove.

Avanta now operates seven unbranded serviced office suites across London, managing a total of 220,000 sq ft.  All business centres, which have been open more than six months, have an occupancy rate in excess of 90%.

Managing Director David Alberto said: “We’ve enjoyed rapid growth since opening our first business centre less than two years ago, and have been able to capitalise on the occupier demand for unbranded, competitively priced, flexible business space.

“We are delighted to have added 31 Southampton Row to our growing portfolio of business centres.   In managing this space as a serviced office suite, we are providing Holborn Links Ltd with an increased revenue stream.”

For further information, please contact:

Dominic Morgan or Richard Stocks at FD Tamesis on 020 7831 3113

David Alberto at Avanta on 0203 008 6000

www.avanta.co.uk