RNS Number:5296Y
MWB Business Exchange Plc
18 June 2007



FOR IMMEDIATE RELEASE

18th June 2007


             MWB BUSINESS EXCHANGE TAKES 34,000 SQ FT FORMER 
                   BASIL STREET HOTEL FOR LATEST CENTRE


MWB Business Exchange Plc ("Business Exchange" or "the Company"), the AIM-listed
second largest provider of contemporary flexible offices in the UK, today
announces the acquisition of an entire 34,000 sq ft building in Knightsbridge
for its latest central London centre.


Business Exchange has exchanged contracts to acquire the former Basil Street
Hotel on a 10-year lease commencing in June 2008, following a complete
refurbishment of the iconic 100-year-old building. The building, which is owned
by Quinlan Private, forms part of a block above Knightsbridge tube station and
runs from Basil Street to Brompton Road, and can be accessed from Sloane Street.


This latest acquisition forms part of the Company's strategy to continue growing
its presence within Central London and will take the total number of Business
Exchange centres to 57. It is anticipated that once the extensive refurbishment
is completed the building will provide a total of approximately 350 workstations
taking Business Exchange's total inventory to nearly 15,500. There will also be
a number of meeting and conference rooms in the new centre.


Last week Business Exchange announced two more central London centres with the
acquisition of a lease on 55 Old Broad Street, EC2 and a profit-sharing joint
venture with PRUPIM for a centre in the landmark City Tower at Basinghall Street
EC2.

                                                            
Commented John Spencer, Chief Executive of Business Exchange: "This is our first
Knightsbridge centre but forms part of our Central London expansion strategy to
provide high quality centres in prime business locations where there is known
demand for the style of flexible office space which we are successfully
providing for our fast-growing client base."

Contact:

John Spencer, Chief Executive, Business Exchange.  Tel: 020 7706 2121

Baron Phillips, Baron Phillips Associates,         Tel: 020 7920 3161

Capel Irwin, KBC Peel Hunt.                        Tel: 020 7418 8900


                                     Ends.






                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
ACQUWUARBVRNAAR
MWB Business Exchange (LSE:MBE)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more MWB Business Exchange Charts.
MWB Business Exchange (LSE:MBE)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more MWB Business Exchange Charts.