Queensgate Investments Fund I has acquired the high-end serviced office provider Executive Offices Group for approximately £260 million, aiming to capitalize on the growing demand for flexible workspaces in London's premium real estate market.

Target Information

Queensgate Investments Fund I, advised by Queensgate Investments, has successfully acquired the upscale London serviced office provider, Executive Offices Group (EOG), for approximately £260 million. This move marks a significant investment into a company that operates 28 high-end serviced offices, encompassing roughly 513,700 square feet across prestigious locations such as Mayfair, Belgravia, and the City of London.

The Executive Offices Group boasts key assets at renowned addresses, including 33 St James’s Square, 78-79 Pall Mall, 53 Davies Street, 84 Brook Street, and others. Since 2010, EOG has experienced a steady revenue growth of 10% per annum, with current revenues averaging around £45 million. The portfolio currently holds an occupancy rate of approximately 88%, and the average length of client tenure exceeds 32 months, which is significantly above the London serviced office average.

Industry Overview

The serviced office industry in London has seen considerable growth over the past decade, driven by increasing demand from businesses seeking flexible workspaces. Lon