The owners of a serviced offices group are considering a potential £200 million sale in what could be the start of a wave of takeover activity in the sector. BE Offices, which runs more than 20 workspace locations nationwide, has appointed Rothschild to advise it on a range of financing options that could include a sale. The company, formerly known as Business Environment, was founded in 1994 when a team of property investors purchased two buildings leased to a serviced operator. When the operator began to experience problems, David Saul and Simon Rusk, the BE co-founders, decided to do it themselves. BE Offices offers flexible leases such as desks for rent on a monthly basis and onsite facilities such as gyms, meeting rooms and video
UK-based serviced office provider BE Offices has appointed Rothschild to advise it on a range of financing options to allow the company to accelerate its growth. Options being considered include a £200m sale that could trigger a wave of takeover activity in the sector. The company formerly known as Business Environment operates four brands including Headspace and Bespoke that provide more than 20 locations across the UK. It owns the freehold on five properties with a combined estimated value of £150m and is expected to generate revenues of £40m this year.