Office interior specialist announces £23.5m cost savings

Office design news from Morgan Lovell

Published on 26-08-2009

Serviced office interior provider Regus has announced cost savings in the first half of this year of £23.5 million.

The company reported that its revenues rose by 9.8 per cent to £557.4m for the period ending 30 June 2009.

In addition, the company noted that this news will prompt the firm to continue a concerted push to create more UK modern office design space in the months ahead in a bid to capitalise on what many perceive as an improving marketplace.

"Although we have seen an increased level of customer churn, we have also seen a large number of new customers entering Regus as they seek a cost-effective solution for their business needs," said Mark Dixon, Regus chief executive.

Meanwhile, Oliver Gilmartin, senior economist at the Royal Institution of Chartered Surveyors, warned that there is a real prospect of a two-tier commercial property emerging in the months ahead, as companies look to move invest in prime assets and forsaking those properties which do not represent good value.