Evans Easyspace

Bridges Property Alternatives Fund III

Flexible managed workspace for SME businesses throughout the UK

  • Theme

    Underserved Markets

  • Date of Initial Investment

    20150201

  • Bridges Executives

    Simon Ringer
    Tom Tyler

  • Management Team

Challenge: Employment opportunities are not evenly distributed across the UK, and the poorest communities are often more disadvantaged in terms of access to affordable workspace, services and economic opportunities. Underinvestment has led to a prevalence of derelict land, which can aggravate social, economic and environmental issues. But these challenges – underutilised property and unmet demand – also present opportunities for growth. SMEs are particularly key to economic growth, contributing disproportionately to job creation.

Investable solution: Bridges has acquired a portfolio comprising 50 business centres offering a range of serviced office, light industrial and self-storage units. Regus acquired the portfolio last year and will continue to manage it on the existing flexi-leasing model. This investment has the potential to create additional workspace in existing buildings, supporting local business growth and employment. There are a total of 21,692 workstations in the business centre elements and 1,420,000 sq. ft. of light industrial and workshop units. Bridges and Regus will also look to improve the properties’ environmental performance, and will explore the possibility of tracking and reducing energy usage.

Outcomes: The properties specifically cater for SME occupiers, with approximately 2,000 tenants currently across the portfolio.

www.evanseasyspace.com

 

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