Busworks serviced offices
Our Approach
- Long term relationship working with shareholders to anticipate succession and realisation events
- Active involvement in related sectors to provide insight and context
- Bespoke and objective advice from time to time in relation to business and market developments rather than selling fixed package of products /services
We employed these capabilities when we advised the shareholders of Busworks over a ten-year period culminating in the successful sale to Workspace.
Sector
The Built Environment
Busworks
Workspace PLC
Public or Private: Private
Client Position: Seller
- Company Profile
- Transaction Background
- What We Did
- Outcome
Busworks is located in a former Victorian bus factory on 1.6 acres in Islington. Busworks provides 104,000 sq. ft. of net lettable space for occupiers, including a range of dynamic early-stage growth businesses.
- Busworks had received a number of approaches from buyers over the years
- The change in working patterns as a result of the pandemic and the increased relevance of flexible serviced offices in this environment accelerated long term discussions from motivated buyers seeking strategically located serviced office capacity
- Opus worked closely with the Busworks shareholders supporting the preparations for the business sale and the engagement with potential purchasers, resulting in the selection of Workspace as a preferred buyer capable of maximising the exciting potential of the Busworks facilities and business
- In parallel with the sale process Opus worked with Daniel Watney to put in place new long-term leases for the Busworks premises to allow a buyer maximum long term certainty and flexibility
Cash sale of Busworks for £45 million to Workspace PLC.