Sale sought for Evans Easyspace in administration

Thu, 06 Mar 2014 | ADMINISTRATION

Serviced office firm Evans Easyspace has entered administration with a sale sought by Zolfo Cooper.

Based in Leeds, the £13 million turnover business owns and rents 56 locations offering workspace for small and medium-sized companies in England and Scotland. It additionally offers virtual offices, meeting rooms and self-storage units to its 2,000-strong customer base.

Evans Easyspace was owned in partnership by Persian Ltd and Kodak Pension Plan. Established in 2000 as part of the Evans Property Group, its Evans Management arm acted as the asset manager for the group.

Simon Appell, Alastair Beveridge and Anne O’Keefe have been brought in to manage a restructuring process before a sale. The administrators are tasked with the unwinding of a complex and out-dated 1907 limited partnership structure that presently owns the business.

Despite strong cash flow and a high rate of occupancy at over 90 per cent, the business had been hit by a permanent re-rating of its asset class in 2008, leading to a reduction in the value of the property.

The business is continuing to trade while the administrators assess the options, to include a whole or part sale.

Mr Appell said: “We believe the companies are attractive to a range of potential buyers either to continue in current use or in a number of other guises.”

Related information:
Register your interest in this business with the administrator

Share this article

Latest Businesses for Sale

Importer of Air Treatment Products (Fast Sale)
London, South East, UK

All offers are to be received by 5pm 20th February 2019 and accompanied by proof of funds. Based in the London area.

Asking Price: Offers Invited
Turnover: £3,100,000


Structural & Civil Engineering Consultancy
South East, UK

Specialises in comprehensive design services within the structural and civil engineering sector and end-to-end project management for insurance-related claims. Offers invited.

Asking Price: Offers Invited
Turnover: £1,270,000


Steel & Aluminium Products Manufacture & Installer
South East, UK

Well-established company operating for over 24 years. Carries out structural, architectural, mechanical and machining works. Offers invited.

Asking Price: Offers Invited
Turnover: £2,300,000


View more businesses for sale

News Search

Latest News


London corporate advisory business Stockdale sold for up to 5.9 earnings multiple | BUSINESS SALE

Corporate advisory and security business Stockdale Securitie...


Hollywood Cinemas call in administrators | ADMINISTRATION

A chain of East England cinemas has been forced into adminis...


World’s "oldest department store" enters administration | ADMINISTRATION

Deemed to be the world’s oldest department store, havi...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News


Liquidation looms for Blackpool Airport | ADMINISTRATION

A turnaround expert has been brought into Blackpool Airport ...


Network by Wireless in administration | ADMINISTRATION

A wireless networking business based in Sheffield, Yorkshire...


Stripped down Jane Norman is placed in administration | ADMINISTRATION

Women’s fashion clothing seller Jane Norman has put it...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources