I saw a report this week that Avanta has opened a new business centre in Reading in a building leased to the Prudential. The centre offers 250 workstations and is situated in a picturesque spot next to the Rover Kennet.
At first sight this is an odd move. Reading is already well supplied with business centres and has had for a number of years a higher than average vacancy rate in conventional space. Why would Avanta, whose managing director, David Alberto, never overpays for anything, want to enter this over supplied market?
One imagines that David negotiated a sweet deal to take over the Prudential’s lease, but apart from that, the clue may well be in the fact that this centre was opened in partnership with The Asset Factor (www.theassetfactor.com). The Asset Factor is a very interesting organisation led by the triumvirate of Matthew Punshon, Keith Perry and Oliver Jones.
Matthew was the founder of Trillium, which after its acquisition by Land Securities seemed poised to revolutionise the notion of flexible space with its Landflex product. Sadly this was a product before its time and it never achieved its promise in the change resistant UK property world.
Oliver and Keith are also both heavyweights in the property and services field with Oliver responsible for devising Regus’s successful Netspace product.
David Alberto is no intellectual slouch either so the industry should expect great things from the combined brainpower of four talented individuals. Mark Dixon, with whom both David and Oliver have previously worked, had better look out!
