Bath-based Regency Offices has increased its portfolio of properties in the city to eight following a deal on a newly refurbished building in Gay Street.
Regency Offices, which already occupies a neighbouring property in Gay Street, has leased its new building from owner Bath-based developer HPH, which extensively refurbished it. It already has two businesses lined up to move it.
Regency Offices began operating in Bath in 2007 after director Tony Williams recognised a gap in the market to provide flexible office space on short-term contracts to businesses in the city centre.
The company charges an all-inclusive monthly licence fee which includes business rates, utilities, maintenance and more, providing businesses with the space they need to grow.
The deal on 23 Gay Street means Regency now operates 87 offices which are occupied by 53 companies.
Tony Williams said: “There is a strong demand for the flexible office solutions we provide, allowing the customer to focus on their own business without worrying about issues such as building maintenance or other building issues.
“We will let the building on a floor-by-floor basis to a maximum of five different businesses and already have two businesses which want to move in straight away.
“We have been really impressed with the professional refurbishment that HPH has completed – they have thought of every detail and included an array of energy-saving measures which will keep our overheads low and ensure the efficient running of the building.
“The building is a fantastic addition to our portfolio, and we’re looking forward to building our relationship with HPH Ltd over the coming years.”
HPH managing director Lindsay Holdoway added: “We are very pleased to be forming a relationship with Regency Offices. Our companies operate in different ways and offer different options to occupiers and we can help each other.”
“We aim to not only refurbish our buildings to a high standard, but to ensure that they are fitted with the latest energy efficient equipment. Installing such measures can be challenging when it comes to Bath’s Georgian buildings, but we’re pleased that we have been able to update 23 Gay St in a way that enhances the period character of the building whilst providing a great working environment, and will serve to reduce the energy bills for our tenant.”
HPH, which owns three Grade 1 and eight Grade 2 listed buildings in Bath centre, has carried out similar upgrades on two other Gay Street properties. The firm develops properties in the office, retail, industrial and leisure sectors.
Pictured, from left: Tony Williams of Regency Offices and HPH’s Lindsay Holdoway
