BizSpace, a large provider of flexible workspace, has acquired five new business centres for a total of about £40 million.
Located in Newcastle, Egham, Dorking, Christchurch and Theale, the centres add a total of more than 150,000 square feet of lettable space to BizSpace's portfolio, which includes offices and workshops across the UK.
BizSpace will deliver an £18 million asset management programme across the five sites, turning them into "high-quality communities suited to SMEs and entrepreneurs".
This will include the creation of a mix of office units to appeal to businesses of various sizes, as well as interior refurbishments to create more contemporary and attractive spaces to suit modern start-ups and small businesses.
BizSpace has invested over £76 million in 13 sites in the past year, rapidly expanding its flexible workspace proposition across regional towns and cities throughout the UK.
Recently the company bought two sites in Milton Keynes and Ipswich for a total of £9 million.
Following these acquisitions, BizSpace now operates 105 properties across the UK, providing flexible and affordable workspaces to more than 4,000 micro and SME customers representing all sectors of the economy.
Emma Long, BizSpace's commercial director, said: "As technology, infrastructure and working patterns continue to evolve, we expect a continued rise in the number of people looking to taking up space at local business centres."