How Servcorp Built a Leading Office Space Business Globally
Some of the most successful businesses start with the epiphany of the founder’s requirements. The rest is managing, marketing, and seizing the opportunities along the entrepreneurship journey. It is precisely what happened with Alf Moufarrige’s adventure with Servcorp. Even though his intentions were a bit different initially—he was in a totally different business—he realised that the cost of having an office space, a receptionist, and secretarial support was eating into the profits of his new business venture in the late 1970s.
The Start and Rise of Servcorp Globally
As most entrepreneurs would do, he looked for a solution to cut the costs and thought it would be better to work in a shared office space to split the rent and other expenses with other businesses. But, after looking for such a solution in Sydney, Australia, he quickly discovered that nothing like that existed. So started the story of Servcorp, one of the earliest examples of coworking spaces that are very popular even in the 2020s’ pandemic-struck world.
Moufarrige founded Servcorp from the MLC Centre, Sydney, in 1978 and remains the CEO to this day.
The initial construction only comprised two offices, a team area and a single boardroom. With a piece of chalk in hand, he drew the surrounding offices on the carpet. As soon as he sold one office, he began building the next one. Servcorp occupied two floors in the MLC Centre and one floor in Melbourne within a year.
The concept was simple, and he could explain it on the back of an envelope wherever he went. This vision and the simple concept continues to evolve; however, it remains the driving force behind Servcorp today. The idea made the company achieve over $200M annual turnover within the next 40 years, with over 150 office spaces in more than 20 countries, 40 cities globally.
In 2018, only a year before the pandemic, Servcorp celebrated its 40th year by investing $50M into refurbishing all locations worldwide.
Servcorp History in London
Servcorp opened its first office space in London in 2009, Dashwood House in the City of London. By the end of 2021, the company has four offices in London, with the Mayfair office making our list of “the Best Coworking Spaces in London.”
If you’re looking for a luxury office space in London, Servcorp at One Mayfair Place is one of the best places, and it’s affordable compared to the ones that provide similar services. Luxurious boutiques are located in the area, as well as art galleries, iconic attractions, and the picturesque Green Park. This elegant landmark, also known as Devonshire House, provides a stunning view of one of London’s most beautiful parks. It is surrounded by the West End’s most prestigious streets, including Piccadilly, Stratton Street and Berkeley Street. Servcorp’s One Mayfair Place is located conveniently above Green Park station. The clients can enjoy incredible views across London from the brand-new roof terrace too!
If you want to learn more about Servcorp, listen to our Podcast session with Fabienne Hajjar, the General Manager, and visit their website at servcorp.co.uk.