Kent-based CapitalSpace, which provides business accommodation for more than 650 companies across the South East, is enjoying its highest occupancy rates ever.
CapitalSpace, which has its headquarters in Kings Hill, owns or manages nine business centres across the region, offering accommodation for small- and medium-sized businesses. Currently, units are only empty for as long as it takes to refresh them ready for the next customer to move in. “We have around 20 units vacant at any one time; at just 5% of the total stock of 653 offices, workshops and studios, this is the highest occupancy rates since I set up the company nearly two decades ago,” said founder and managing director Peter Boam.
CapitalSpace has 159 offices at Churchill Square in Kings Hill, with a further 30 due to be available in the autumn when its flagship new building is completed. It provides 61 offices, workshops and studios at St George’s Business Park in Sittingbourne. It also runs business centres in Milton Keynes and Croydon, as well as five in Essex.
CapitalSpace puts its success down to the flexible, affordable terms it offers companies, which enables them to scale up or down as needed, and its customer-focused ethos. “Our aim is to assist people to grow their businesses. This is where we’re different, as other businesses offering commercial space have different objectives that are perhaps less customer oriented,” said Mr Boam.
Richard McMunn, founder of How2Become, which has been a customer at CapitalSpace Churchill Square for nine years, is enthusiastic about CapitalSpace facilities and services: “Our experience as a CapitalSpace customer has been great. The staff are friendly and accommodating. Since moving in 2008 we have upscaled numerous times: at one point, we had three smaller offices, but now we have one of the larger offices available in our building. This has helped us grow at the pace we want and need to grow at.”
Sterling Roofing Solutions have been customers at St George’s Business Park in Sittingbourne since 2011. “We’ve had an excellent experience with CapitalSpace. The estate is well maintained, offering flexible terms with business support from the office, as required. The facilities are important to us, as are the flexible terms, parking and security,” said office manager Patience Cullum.
Also significant in CapitalSpace’s success is the shortage of suitable business accommodation. “The housing shortage has made residential land and development much more profitable than commercial property, which is why so much former industrial land is being converted to residential use. This has led to a real shortage of suitable commercial accommodation, especially for smaller businesses. CapitalSpace is one of the few providers that is meeting that demand,” explained Mr Boam.