SPACE management company Mentmore Abbey, landlord to businesses across the region, has seen its pre-tax profits rise by 38 per cent in the last year.
The company, which operates 31 Imex Business Centres in the North-East, recorded pre-tax profits of £21.6m in the year to April 30.
In January, the group bought its own telecommunications provider, Synex Network Services, to provide discounted call costs to its 7,000 serviced business space customers.
The group now has 227 serviced business space centres, and a further 700,000sq ft of space under development.
The group also made its first foray into Continental Europe in the past year with the £7m acquisition of Une Piece en Plus (UPP), the leading personal storage business in the Paris region of France.
Other acquisitions included the £27.5m purchase of British Self Storage in June last year. It has 38 storage facilities in the UK, including the largest in Europe at Reading.
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