Milton Keynes business centre enjoys record success

CapitalSpace, which provides business accommodation for 97 companies at Milton Keynes Business Centre, is enjoying its highest occupancy rates ever.

Wednesday, 19th July 2017, 12:46 pm
Updated Monday, 11th September 2017, 12:51 pm
Milton Keynes Business Centre

CapitalSpace owns or manages nine business centres across the South East, offering accommodation for more than 650 small- and medium-sized businesses.

Currently, units are only empty for as long as it takes to refresh them ready for the next customer to move in.

“We have around 20 units vacant at any one time; at just 5% of the total stock of 653 offices, workshops and studios, this is the highest occupancy rates since I set up the company nearly two decades ago,” said founder and managing director Peter Boam.

Peter Boam

CapitalSpace puts its success down to the flexible, affordable terms it offers companies, which enables them to scale up or down as needed, and its customer-focused ethos.

“Our aim is to assist people to grow their businesses. This is where we’re different, as other businesses offering commercial space have different objectives that are perhaps less customer oriented,” Peter added.

Twyla Kakubo, founder of Makeup Candy, moved from her home office into Milton Keynes Business Centre last year: “We were looking for a place with parking that wasn’t too far from the centre of town,” she said.

“We also knew that, as an expanding business, we would have to scale up in the future, and CapitalSpace offered us this.

Peter Boam

“Having great staff on site to greet us with a smile every morning is a bonus!’

Also significant to CapitalSpace’s success is the shortage of suitable business accommodation.

“The housing shortage has made residential land and development much more profitable than commercial property, which is why so much former industrial land is being converted to residential use,” Peter said.

“This has led to a real shortage of suitable commercial accommodation, especially for smaller businesses. CapitalSpace is one of the few providers that is meeting that demand,’ explained Mr Boam.

CapitalSpace play proactive part in the communities surrounding their nine business centres. To that end, they are currently sponsoring a space cow named Ann-Dromeda as part of the Herd About MK fundraising initiative as part of the town’s 50th anniversary celebrations.