Fast controlled growth...
MLS started acquiring centres in 1998.
The business model has been developed to include occasional freehold purchase (where there is revaluation/planning gain potential), occasional leasehold acquisition and managed and JV turnover lease deals on suitable sites.
This strategy has significantly reduced risk and improved long-term returns by linking income on the buildings more closely to rentals paid.
By May 2005 the company had 48 properties - three freeholds, 25 JV turnover leases, 16 traditional leases and four managed properties. By 2006 this had risen to 70 centres and by 2007, 75 centres.
We have spent considerable time and resources developing our brand and our marketing.
We were a Sunday Times Virgin Fast Track 100 company in 2005 and 2006. We have won several other awards including Business Britain’s ‘Business Centre Group of the Year’ for 2005 and 2006 and Business Relocation Partner of the Year in 2007.
MLS has established strong relationships with some of the largest commercial landlords in the UK such as Land Securities Trillium, ISIS and Telereal – a BT joint venture.
During 2005, MLS researched the international marketplace and decided to move some data processing, accounting and IT functions offshore.
In November 2006 MLS took over the management of Acacia Business Centres, acquiring ten smaller semi-serviced properties in London's West End.
An experienced team have also been hired in India; MLS now have 2 business centres in Chennai, together with a data processing office. A third business centre is due to open in Pune in summer 2008.
Our first centre in Shanghai, China, opened in December 2007, with others to follow across the country.
In 2008, as well as celebrating its 10th anniversary, MLS have also hired an experienced CEO in Sao Paulo, Brazil and the first business centre there will open in the autumn.
With over 70 locations, MLS are now the UK's second largest business centre provider and are continuing their expansion to become the UK market leader and a truly global competitor.
