Coworking Operator with Multiple Premises in the South East of England

Offer Deadline:

Thursday 28 November 2024, 10am GMT

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Project Connect

Hilco is delighted to offer for sale the business and assets of a company that operates coworking, shared desk and private office space, with a strong emphasis on running compelling community events.  Offers are sought for the business and assets as a whole or for individual parts.

The Business

• Extremely well established and renowned market leading business/brand within the subject locations.
• Proven concept with 2023 occupancy of 97%, with 800+ current members resulting in 80-85% occupancy.
• Extremely high-quality leasehold premises’ fully fitted and furnished in the Company’s renowned trading style, with total fit out cost of c. £2.5m.
• Premises include coworking and office accommodation, shared seating areas, catering services and meeting and event spaces for hire.
• Provides a comprehensive schedule of networking / community events.
• Offering various short and longer term occupancy/membership options for coworking individuals and businesses.
• Numerous growth opportunities including expansion of premises within current buildings, additional small coworking space / larger format spaces under the legacy of the brand, and opening new leasehold sites.
• Experienced and motivated management team.
• 2023 turnover c £2.9m with EBITDA of c.£290,000.
• 10 months turnover to end Oct 2024 c.£2.15m

Business Assets

Fully Fitted Leasehold Premises – the current premises, held on various leases with 2-8 years unexpired terms, fitted with freely owned office furniture and equipment.

Membership / Tenancies  – the current income producing membership.

Intellectual Property  – the established trademark protected brand name, web domain, copyright in the website, customer database, domain name, and social media accounts.

Customer/Lead Databases – substantial databases of customers (c. 7,500 alumni) and leads (c. 140 generated per month).

Goodwill – the goodwill attaching to the business.