Flexible workspace provider BE Offices has completed an £84m refinancing package with HSBC.
The deal extends the period of BE’s fixed debt to five years.
Simon Rusk, BE’s finance director and co-founder, said: “This is a major step forward for the company. Not only does the refinancing provide us with a solid foundation and security going forward, it also releases significant cash to fund our planned expansion over the next few years.”
Over the past two years BE has expanded the business to 19 centres providing around 800,000 sq ft of flexible workspace.
It has expanded both organically and by acquisition. Last November BE acquired co-working specialist Headspace, taking BE into the tech, media and creative industries sectors for the first time.
Last autumn it also launched BESpoke, which is aimed at large corporate occupiers seeking flexible space.
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