Manchester Developer Acquires Property for New Hotel and Serviced Offices

Vision Developments, a Manchester-based developer, is currently on the verge of acquiring the Lloyds TSB Bank building on the corner of King Street and Cross Street in Manchester for £7m. The company is finalizing a deal to buy the 40,000 square foot property which could eventually be converted into a hotel and serviced offices.

The Lloyds TSB Bank building currently has two years remaining on the lease. The building is owned by Lasalle Investment Management and has been on the market for £9.5m. The property currently generates £675,000 a year in income and then tenants include Salisbury Hamer, Lloyds Private Banking and Abbey College. Vision Development is purchasing the building for less than £100 per square foot which is representative of the bottom of the market for a building on King Street.

Vision Development will be looking at using the building to create a mixed-use facility that will include a hotel and serviced office suite development. The company is also looking at several other buildings for developing a similar project near Barton Arcade, which the company also owns. Plans are underway to revamp the arcade and nearby connecting alley into new retail and leisure facilities.

The Lloyds TSB Bank building was opened in 1913 as the bank’s Manchester headquarters. It has a large banking hall in which the company plans a restaurant and a vault underground. It is a landmark building located in the heart of the city centre and the deal represents a 9 percent yield.

The building would mark the second property purchased by Vision Developments in Manchester. The company previously purchased the Invicta House on Atkinson Street in Spinningfields from Maple Grove Developments.

Vision Developments has an outstanding track record for delivering mixed use developments throughout the United Kingdom. Their properties consist of serviced office business centers, retail, leisure, and commercial facilities.

The company currently has another project underway in Liverpool which includes the development of a former office building to create 40,000 square feet of grade A serviced offices to let, together with the refurbishment of Crosshall Building and a former Welsh Calvinistic chapel to create a number of offices for sale. This 100,000 sq ft project will recast three interlinked buildings in the middle of Liverpool's' historic business district.

To inquire about office space availability in the UK, log onto Move and Stay at www.moveandstay.co.uk.

Collins Administration Launches New Virtual Office System

Collins Administration, a provider of telephone answering and administrative support services, recently launched a new high tech ‘Virtual Office’ system which is now being made available to businesses and start-ups throughout Ireland.

Although the company has been providing state-of-the-art telephone answering and business administration services to businesses and serviced office facilities since 1999, the new virtual office service marks the company’s expansion into a new niche market which addresses the increasing demand for virtual office services.

Collins Administration Services has installed the latest technology to service businesses large and small to provide a complete virtual office service with packages that are customized to meet the individual needs of businesses. The company has also extended the virtual office service to serviced office facilities and other remote workplaces.

The new virtual office service provides comprehensive office services to companies that are in need of downsizing due to the current economic climate as well as businesses who are looking to simply reduce operational costs. The virtual office provides the solution to reducing costs while at the same time allows businesses to project a professional image. Other business clients have been seeking the virtual office service because they had to give up their office space due to the high costs of leasing and are currently operating in a mobile work environment out of their home.

The new virtual office service provided by Collins Administration provided high standard service by operators and professional administrative support staff so callers feel as though they have reach the individual office of the business client. Each call is answered in the name of the company and virtual office clients also enjoy access to business solutions and support service.

The business support services include full professional administrative support which include a business address, typing, faxing, emailing, research, database set up and management, mail shots, binding, photocopying and laminating.

The new ‘Virtual Office’ is the ideal solution for business that are looking to reduce operational costs and it is also convenient for the self employed, home workers, and business start-up ventures.

Bruntwood Development in Leeds Increases in Popularity

Bruntwood, a leading commercial property firm in Northern England, recently announced the letting of an 8,300 square foot serviced office at 14 King Street in Leeds City Centre. The 27,000 square foot, grade A serviced office centre recently underwent extensive refurbishment for J2.3m and will become home to Gatenby Sanderson and Charles Stanley & Co, who will occupy 6,500 and 1,800 square feet of serviced office space.

The rental start the refurbished business centre off to a great start and the serviced office building is already proving popular with high specifications, air conditioning, and open plan office space for up to 6,700 square feet available on flexible and competitive terms. Due to the flexibility of the serviced office building, office space can be created from as little as 355 square feet to several thousand square feet.

14 King Street represents the fourth serviced office development in Leeds City Centre by Bruntwood. This project expands Bruntwood’s portfolio to 275,000 square feet of serviced office space in the Leeds City Centre with the other three buildings at 99 percent occupancy with the exception of a few serviced offices and meeting room facilities. These are available to let on an on-going basis at the Westone development on Wellington Street. Move and Stay at www.moveandstay.co.uk has information on office space availability.

The leases for both Gatenby Sanderson and Charles Stanly & Co will be exclusively with Bruntwood and not the building. This means that the companies will have the opportunity to expand and downsize as needed and will have access to Bruntwood’s 90 building office portfolio.

This is one of the features that have made Bruntwood’s serviced office properties attractive to many business clients, the ability to expand and contract as business needs change during the current economic climate. Clients can enjoy the benefits of lease flexibility while enjoying high end serviced office space that meets the individual needs of businesses. Additional, businesses can establish a presence in Leeds traditional commercial core.

Bruntwood owns over 90 office buildings in Liverpool, Leeds, Birmingham and Manchester offices. Bruntwood provides offices and serviced offices from one desk for one month, to entire office buildings for 25 years. Bruntwood also has retail and commercial space within its buildings and meeting rooms to hire.

Officescape Announces Enhanced On-Demand and Virtual Office Services

Officescape, a leading office service provider, has announced the launch of its new Virtual Incubator services with virtual office technology. The new innovative technology allows traditional providers of serviced offices and virtual offices to serve a large number of clients by providing them with on-demand and virtual office services.

The Virtual Incubator is essential an easy-to-use model that is culminated with virtual office technologies. It allows serviced and virtual office providers, research parks, and other business development centers to serve incubator clients that may not be located near an incubator location or have been denied because of physical office location.

Officescape’s Virtual Incubator services are designed to allow serviced office and virtual office providers to serve a larger number of clients by removing the limitations of geographical location or square-footage. The Virtual Incubator allows off-site clients to access all of the incubator’s serves with out having a full-time office at the facility. Clients also receive all of the benefits that are associated with a Virtual Incubator membership. The services include communications, data storage, remote software applications, off-site telephone answering, and mail services that are all accessible on a single platform that provides simple management.

Officescape is already providing these services to many serviced office and virtual office providers throughout the United States who work with Officescape to provide clients with state-of-the-art virtual office tools. The Virtual Incubator is accessible from anywhere at any time which allows serviced office and virtual office providers to continue to serve businesses that have grown beyond the need for serviced office space.

The Virtual Incubator has continued to grow in popularity and Officescape has an expanded client base of business development centers, serviced office facilities, and research parks that use the virtual office services and technologies to provide positive business solutions for business they cannot accommodate into their physical space.

Officescape is US-based and is a leading Office Service Provider that provides advanced technology to fulfill office needs as a service. It has established the industry benchmark with its innovative Office on Demand, Virtual Office and Telework services.
For additional information on virtual offices, log onto Move and Stay at www.moveandstay.com

Savills’ Report Shows Serviced Apartments as a Viable Alternative to Hotels

Savills, a world leader in residential and commercial property services, recently issued a report for the serviced apartment sector in the United Kingdom. The report indicates that current economic climate developers are increasing planning on serviced apartment properties as a viable alternative to hotels and residential properties.

The report also indicated that serviced apartments provide short term income on unsold stock and have proved to be the better alternative in the current economic climate. According to officials at Savills, a standard management contract could provide a developer with an annual income of approximately £15,000 on a one-bedroom serviced apartment before management fees. This calculation was based on a nightly rate of £85 and 80% occupancy. Grosvenor took advantage of capitalizing on this fact by entering into a lease agreement with Bridgestreet Worldwide for 78 serviced apartment units at their Liverpool One project.

According to the Savills report, clients staying in serviced apartments for more than three months in 2008 still reflected the five year average of 30,000 stays. According to Savills officials there is no question that operations will experience some difficulty during the next year, however, the company feels that serviced apartments will achieve average occupancy levels over those of the local hotel market. This forecast when combined with the flexibility of serviced apartment inventory, operators should be able to survive during tough economic times.

Savills research for the report that was recently released, puts the total number of serviced apartment units being planned at 3,400. Combined with existing serviced apartment units this will bring the total supply in the UK to over 10,500 units. The bulk of these are in London with over 2,000 units. You can find out more about these properties by logging onto Move and Stay at www.moveandstay.co.uk.

Savills is a leading global real estate service provider listed on the London Stock Exchange. The company consists of a team of property and research professionals dedicated to understanding global real estate markets. Savills provides reports, information and presentations that help clients to save or make money from real estate projects and which have also helped to inform policy and shape strategies.

Frasers Hospitality Launches Gold-Standard Serviced Apartments in Edinburgh

Frasers Hospitality, a leading global provider of serviced apartments, launched its first property in Edinburgh, the Fraser Suites Edinburgh. The property provides luxury serviced apartments that are located in the heart of Edinburgh and contributes to the growing European portfolio of Frasers Hospitality by providing their second property in Scotland and their ninth property in Europe. Fraser Suites Edinburgh has a range of serviced apartment units including studio, one, and two-bedroom suites.

Fraser Suites Edinburgh offers 73 serviced apartments that are located in the heart of the city’s Old Town where it is listed as a UNESCO World Heritage Site. It is also situated on St Giles Street which is near to the historic Royal Mile and Princes Street, a prime shopping location.

The serviced apartment property is also within close proximity to Edinburgh Castle and the Princes Street Gardens with a short walk to Waverly Station which is Edinburgh’s main line rail station providing direct rail connections to London.

Fraser Suites Edinburgh offers contemporary styled serviced apartments with a fully-equipped kitchen, washing machine, dishwasher, and broadband Internet access. Guests have access to an onsite gym, breakfast suite, and a restaurant. The building is completely renovated with a restored exterior stone façade and a completely remodeled interior. You can inquire about availability through Move and Stay at www.moveandstay.co.uk.

Frasers Hospitality has undergone a period of rapid expansion due to its plans to provide more than 9000 serviced apartments worldwide by the year 2011. The company currently has plans underway to open serviced apartment properties in Germany, the Netherlands, Switzerland, Spain, Italy, Russia, and the Czech Republic, with other properties planned for key gateway cities in the United Kingdom.

Frasers Hospitality currently operates serviced apartments in Glasgow in a historic building in the Merchant City area, as well as five properties in London and two in Paris. Frasers Hospitality is a global serviced apartment provider and management company with Gold-Standard residences in Bangkok, Beijing, Glasgow, Hanoi, London, Manila, Nanjing, Paris, Seoul, Shenzhen, Singapore and Sydney. New serviced apartment developments include Bahrain, Bangalore, Chengdu, Dubai, Guangzhou, Gurgaon, Hong Kong, Jakarta, Kuala Lumpur, Leeds, Perth, Shanghai, Tianjin, and Tokyo.

Oakwood Worldwide Launches Serviced Apartments in London

Oakwood Worldwide, a leading worldwide provider of serviced apartments, recently launched a new serviced apartment property, the Oakwood Steward Street in London. The new property is located in the Spitalfields area which is near to Bishopsgate and Liverpool Street Station.

Oakwood Steward Street offers one bedroom and Executive one bedroom serviced apartments equipped with oak and ceramic tiled floors, contemporary furnishings, fully-equipped kitchens, security intercom, luxury bathrooms with thermostatic showers, flat screen LCD televisions, elevators to all floors, weekly housekeeping, and airport pickup.

Oakwood Steward Street serviced apartments are located in the historic area of Spitalfields which has one of the longest running markets in England that include many retail venues that offer high-end fashion, a wide variety of restaurants that include Brick Lane, the Pubs of Shoreditch, and famous Asian restaurants, and theatres. Many historical walking tours are available which includes Cheapside, Bow Bells, and Jack the Ripper Tours.

The new serviced apartment property is also located in the heart of the London financial district and within close proximity to Liverpool Street Underground and National Rail Station which services the Central, Hammersmith and City, Metropolitan, and Circle Lines. Oakwood Steward Street is also within easy access to the Stansted Airport on the Stansted Express. For more information on accommodations, log onto Move and Stay at www.moveandstay.co.uk.

Oakwood Worldwide was established nearly fifty years ago and currently has many serviced apartment properties throughout the United Kingdom. The company is considered the worldwide leader in providing fully-furnished serviced apartments that offer flexible solutions for business and leisure travelers. Oakwood Worldwide has more than 3,500 associates around the globe and over 23,000 serviced apartments worldwide.

Oakwood Worldwide is also a proud sponsor of the Global Warming Crusade (GWC). The GWC was created to raise public awareness of the threat of global warming on the environment and the polar bear by positioning the polar bear as the face of global warming.

Oakwood Worldwide made important strides toward educating and inspiring elementary school children, their parents and other adults, to take personal action through the support of various educational outreach activities, as well as to further research programs, and charitable organizations dedicated to environmental causes, global warming prevention, polar bear preservation, and the "greening" of our world.