Avanta Acquires 43,000 sq ft in Harrow.

Serviced office company Avanta has acquired the freehold of a 43,000 sq ft office building in Harrow, from investment and development company, Quintain.

The building, 79 College Road, Harrow, has been acquired for £6.5 million and will be turned into serviced offices, bringing the total amount of space managed by Avanta to 432,000 sq ft.

The building is situated in a prominent position in Harrow, on the south side of College Road, immediately adjacent to the entrance to Harrow on the Hill Bus Station Terminal. It has the additional benefit of multi-story parking facilities adjacent to the rail station and a short distance to the town’s local amenities.

This is the latest in a number of deals to be completed by rapidly growing Avanta in recent weeks, with the company securing new premises in Birmingham, the West End and City of London, totalling over 100,000 sq ft. The company expects to announce further acquisitions over the summer and is on course to meet its target of managing one million sq ft over the next two years.

The Harrow building brings Avanta’s portfolio of serviced offices to twelve buildings. This growth is being facilitated by a management buyout at the beginning of the year by Kenmore Private Equity, part of the Kenmore Property Group. This is enabling the company to embark on a £100 million expansion programme to buy freeholds, take on leaseholds and develop the corporate outsourcing model across the UK.

The company has also launched a property outsourcing joint venture with The Asset Factor, offering a new service to corporate occupiers which takes on their leasehold liabilities and manages vacant space as serviced office suites.

Chief Executive David Alberto said: "There is increasing occupier demand in the market for unbranded, competitively priced, flexible business space, which we are well placed to satisfy with our growing portfolio of business centres."

Having initially established the company as a key player in the London serviced office market, the strategy of expanding beyond the capital is starting to take shape.

David continued: "With Birmingham, Reading and now Harrow firmly on the map, we are becoming truly established as a nationwide brand and we look forward to rolling out the Avanta serviced office across the UK over the course of this year".

Notes to Editors:
Avanta is an emerging name in the serviced office market, with a rapidly growing portfolio of office suites in prime locations across London, the Thames Valley and Birmingham. The company was formed in 2004 by David Alberto, previously with Regus and former Managing Director at MWB Business Exchange. Avanta can offer highly flexible, unbranded office space, with advanced and competitively priced technology, tailor made to meet the requirements of the occupier.

For further information, please contact:

PR agency contact:
Richard Stocks
FD Tamesis
Tel: 020 7269 9355


Avanta contact:
Chris Taylor
Avanta Management Services Ltd
1 Hammersmith Grove
London
W6 0NB

Tel: 0203 008 6000
http://www.avanta.co.uk/