Member Article

Citibase triples its central London presence amid flexible working boom

UK serviced business centre operator Citibase has opened two new central London business centres this week on the back of record annual results.

The centres at Green Park and Victoria Palace Street bring the total number of prime London locations for the workspace provider up to three and come soon after Citibase revealed that company revenues had hit £21.25m in its annual results.

Sitting in the heart of some of London’s most upmarket postcodes, Citibase’s London Green Park, which is situated in Mayfair, and its Victoria Palace Street facility in Victoria will provide over 540 workstations combined, with the refurbished properties sitting close to transport links and amenities.

Citibase Chief Executive Officer Steve Jude commented: “This is a hugely exciting period for us as we triple our presence in the heart of the capital at a time when our business has never been healthier or more relevant.

“Our record fiscal results mean we are in a good position to broaden our offering to London businesses, who, after the shock election result and political fun and games which are following, more than ever before don’t want to be shackled to long-term commitments.”

The continued expansion into central London for Citibase, which currently operates 36 serviced business centres across the UK, marks the booming demand for more flexible space and lease terms from businesses of all sizes.

It is no coincidence that massive UK property developer British Land has also this week launched its own flexible workspace offering, with even larger corporates and big firms moving away from long leases in the current political and economic climate.