Morrison Construction Group and Gainsborough have formed a £125m joint venture to develop and build serviced offices across the UK.
The joint venture known as Gainsborough Morrison will build 20 serviced business centres of around 3,715 sq m (40,000 sq ft), which will be designed and built by Morrison, and managed by Gainsborough.
Gainsborough Morrison is looking at all major cities in the country, including Manchester, Birmingham, London and Edinburgh. It will also consider utilising some of its own existing Scottish and nationwide sites.
Steve McBrierty, managing director of the development division, at Morrison’s, said: “It is fundamental that we are part of the changing marketplace of today, where tenant requirements are in the process of changing significantly in terms of flexibility of leases.”
As for its tie-up with Gainsborough, McBrierty commented: “We’re an entrepreneurial development-led organisation and we like to have like minded people on board. We’ve spoken to all the significant serviced office operators and Gainsborough suited us best.”
EGi 10/02/00
