Business in Focus has seen a significant rise in the take-up of space in its office and industrial property portfolio with plans to expand its Wales-wide estate.
The social enterprise, which as well as providing leased space to hundreds of firms also delivers business support functions for the Welsh Government, increased its property portfolio in 2019 when it acquired 220 units, across six sites in South Wales - at Abercynon, Aberdare, Bedwas, Dowlais and Pentrebach - and Wrexham from Venture Wales in a £7m deal.
The acquisition increased the size of its portfolio by around 70%. Since then, and despite the pandemic, occupancy levels has risen from 80% to 98.5%.
Its properties are home to around 450 firms, as well as charities. Collectively they employ around 4,000.
Its owned portfolio extends to 344,482 sq ft, while it manages a further 20,432 sq ft. Business in Focus offers flexible leases as well as supportive services.
Chair of Business in Focus, Geraint Evans, said: “As a social enterprise what really attracted us to the purchase of the Venture Wales portfolio was their own status as a social enterprise, giving the prospect for surplus funds from our purchase being reinvested into their mission and purpose.”
Its chief executive Phil Jones said: “Our office space at Navigation Park, Abercynon is a great example of the very successful flexible office space we provide to small businesses. We look forward to developing and maximising the potential of this site even further in future to ensure that even more businesses and the local economy can continue to benefit.”
While the pandemic saw an element of working from home for its tenants, this has not been reflected in an significant fall in day-to-day occupancy levels.
Mr Jones said: “As we emerged from the pandemic, and with the easing of many restrictions, we saw a return to the office for many tenants and their teams who had been working from home.
“Our flexible lease terms allowed our tenant to reflect their future office requirement, that working from home influenced, but this has not resulted in a significant shift in occupancy levels or head count in any of our properties on a day-to-day basis.
“It is clear that many tenants still value and need their office space and value being part of a supportive community and individuals.”
Business in Focus has also been awarded Investor’s in People gold accreditation for investment in the wellbeing of its staff.
Investors in People’s We invest in Wellbeing status recognises that the business has a strong well-being strategy in place as well as offering support and understanding of mental health needs.
Chief executive of Investors in People, Paul Devoy, said: “We’d like to congratulate Business in Focus. Gold accreditation on We invest in Wellbeing is a fantastic effort for any organisation, and places Business in Focus in fine company with a host of organisations that understand the value of their people.
We believe that the success of your organisation begins and ends with people. If we make work better for everyone, we make work better for every organisation. And if we do that… we make society stronger, healthier and happier.”
Business in Focus’ head office is in Bridgend.
