Avanta Launches Property Division to Lower Rent

February 4th, 2010

Are you sitting down? If you’ve leased your office space two or three years ago, you could be paying about 40 percent more than current market rates. So says Richard Douglas, head of Avanta Property Management, a new division of serviced office provider Avanta. But Douglas isn’t just highlight a problem – he’s offering a solution: Avanta Property Management.

Avanta launched the new division to help office users who are locked into long-term property leases – and that have unused space available for subletting – to recover some of its monthly costs. It’s called the shadow market. Companies that have downsized typically have extra office space and can relieve the burden on the bottom line by finding a suitable co-tenant for a sublease.

“There’s a vacuum in the market that’s been created by a mismatch between supply and what potential occupiers actually need. So, we will address the gap between a conventional lease and serviced office space to the benefit of both current and new office space occupiers,” Douglas says.

“There’s a healthy demand from businesses seeking accommodation for one to five years and for between 20 and 100 people, but these businesses are demanding flexible lease terms as they won’t risk making any long-term commitments during the current economic downturn.”

Read the rest of my story on abetterOffice.com.

Entry Filed under: Hot off the Press