Serviced office giant Regus has bought rival operator Basepoint Business Centres in a deal thought to be worth £100m.
Regus is acquiring 31 Basepoint centres, totalling around 1m sq ft. The deal will increase the Regus UK portfolio to more than 340 centres.
The deal will bolster its balance sheet as all the Basepoint centres are freehold and fits with its long-term strategy to increase the proportion of freehold assets in its portfolio.
Regus is on an acquisitive streak, as it seeks to compete with growing services office providers such as WeWork and The Office Group. It bought Avanta last year and previously acquired BusinesSuites and MWB.
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