Prudential signs up the asset factor and Avanta’s joint corporate outsourcing venture

The Asset Factor, the property asset management company, has joined forces with Avanta Ltd, the serviced office company, to take over one of the Prudential larger leasehold liabilities.

The parties have been reviewing options for Prudential on a number of their buildings. The first component announced today is that The Asset Factor and Avanta will take on the full liabilities of Prudential’s lease in Dukesbridge House – a 22,000 sq ft office in Reading. Avanta and The Asset Factor will operate the building as a serviced office.

The deal takes away all responsibilities for the building from Prudential whilst still allowing the Prudential flexibility to use the space for project work at anytime in the future should it so wish.

Oliver Jones CEO of The Asset Factor said; ‘The Asset Factor is delighted to work with Prudential on this review; helping major corporates in the UK align their property portfolios with their changing business strategy is exactly why we established The Asset Factor. One of our tools is giving businesses certainty in resolving their leasehold liabilities through the use of our balance sheet and by creating alternative marketing strategies for buildings.’

David Alberto CEO Avanta said; ‘We were delighted to work with The Asset Factor to extend further our offer to corporate clients such as the Prudential. We are excited by the opportunity of extending our successful business model into the corporate occupancy arena of assisting businesses make better use of their space both in terms of reducing cost and enhancing efficiency of occupancy.’

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