Our revenue figures for 2021
Capital Space are pleased to announce a continued strong performance in our Financial Year Report for 2021, despite the considerable challenges of the Covid-19 pandemic. The figures reflect the value of the flexible business solutions we continue to offer our customers. Many of our existing small and medium sized business customers took the opportunity to change their tenancy to a Virtual Office package. Growth in this area was up 15% on 2019, showing that we were enabling businesses to continue operating through unprecedented times.
Seamless transition from premises to virtual
The pressure on many of our small business customers during the pandemic to rethink how their businesses could adapt and survive was extremely worrying. Some had just taken tenancy and were faced with an overnight loss in staff attendance and for some, the concern of juggling family life. How could they manage?
Capital Space offer a Virtual Office package throughout their Business Centres. During the depths of the work from home mandate many of our customers, especially in Sittingbourne, Chelmsford, and Croydon, decided to switch their monthly license and set up working from home. They kept their business address and made use of the virtual reception including mail and email services, ensuring their customers continued to receive a first-class service. Most importantly, they survived and many of our customers emerged from the Covid-19 pandemic stronger than ever!
Healthy tenancy figures during 2021
With such positive uplift in our Virtual Office solutions, we were pleased to see the resilience of other businesses who stayed in tenancy. Some of our centres maintained a very low vacancy rate with average vacancies as low as 1.3 in Harlow, 1.9 in Milton Keynes and 2 in Croydon in 2021.
Throughout the pandemic, we ensured that all our centres were following Covid-19 guidelines, and that all premises and communal areas and facilities were cleaned thoroughly. These extra measures meant that existing tenants were confident when coming into the office and felt safe throughout the pandemic.
Meeting room hire is popular
We are also seeing that meeting rooms are still in high demand amongst both our existing tenants and external businesses. This is encouraging as it’s showing a healthy appetite for business as usual and a general level of confidence in the variety of room sizes available for individual business needs. Our meeting rooms can be hired on a one off or a regular basis, are available by the hour, half day or full day, and are large enough to offer client confidentiality, high speed telecommunication and catering services. Free car parking for as many meeting delegates as required is a real added benefit. Just contact our friendly reception teams in your business centre for more information and current availability.
The future looks bright
Capital Space’s overall revenue has remained very consistent with 2019 performance. Our CSL business centres in Milton Keynes, Churchill Square Business Centre, Croydon, Waterhouse and Harlow generated £8.6m; the Enterprise Centres in Southend, Colchester and St George’s generated £1.8m; and EFI Loughton £811,000 for 2021.
We are proud of our own business and all of those who use our space to grow their own businesses. We continue to develop and maintain thriving business environments that offer added value to small businesses who understand the importance of surrounding themselves and their employees with like-minded businesses and services.
See how Capital Space can help your business grow by taking a flexible workplace in one of our business centres across the Southeast of England.
To find out how Capital Space could benefit your growing business, call 0800 107 4667 or email info@capitalspace.co.uk
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