How a Management Agreement Gave an Ashford Landlord a New Direction

Every landlord with empty floors faces the same question: hold out for a traditional tenant, or rethink what the building could be? For one Ashford landlord, rethinking it led to a new Regus centre, opening in January 2027.

Starting with the market, not the building

Before any design or deal, we needed to know whether flexible workspace could work in Ashford at all. The town already had a mix of operators: budget, light-touch providers like BizSpace and Storage King, an established Regus, and a newer arrival, Chadwick, running its own management agreement with a local landlord.

Mapping that market showed two things. First, desk pricing sat in a fairly tight band, so competing on price alone wouldn’t work. Second, most local offers were functional rather than inspiring. Few gave occupiers the full modern mix of coworking, lounges, breakout space and bookable meeting rooms. That gap was the opportunity.

Designing for amenity, not just density

Rather than squeezing in as many desks as possible, the feasibility work tested a different approach: give the building a vibrant first-floor hub, with a café, communal coworking, breakout areas and reception. Then add a pay-as-you-go meeting and conference suite that local businesses, not just tenants, would use.

That mix does two jobs. It justifies stronger office rates by raising the standard for the area, and it creates secondary income from meeting rooms, coworking memberships and services that a conventional lease never captures. The plans also built in flexibility: if meeting room demand fell short, larger rooms could convert back to offices.

Proving the numbers

The feasibility study modelled a ten-year view covering licence fee income, additional service revenue, operating and staffing costs, business rates and service charge. The question was simple: does this generate a better return than waiting for a lease? The answer was a clear yes, which gave the landlord the confidence to change direction.

Finding the right partner

A strong business plan still needs the right operator to deliver it. Following the feasibility work, I was appointed to run a fair and transparent tender to bring in a management agreement partner. After assessing the options, the landlord appointed IWG Plc, which will run the space under its Regus brand.

Under a management agreement, the landlord keeps ownership of the asset and shares in its trading performance, while a specialist operator brings the brand, sales engine and day-to-day expertise. It is a partnership rather than a landlord-tenant relationship, and it turns vacant space into an operating business.

Why this matters for other landlords

Vacancy doesn’t have to mean waiting. With proper market research, smart space planning and the right operating partner, empty floors can become income-producing assets. Ashford shows what’s possible when a landlord is willing to explore a different model.

If you own commercial space that isn’t working as hard as it could, I’d be happy to talk through whether a management agreement could work for your building.

Matthew Blair, Flexit | MB Consulting

matt@mb-consulting.co.uk | www.mb-consulting.co.uk