Servcorp

Last updated

Servcorp Limited
Company type Public
ASX:  SRV
Industry Serviced offices
Founded1978;47 years ago (1978)
FounderAlfred Moufarrige
Headquarters
Sydney
,
Australia
Number of locations
150+ locations
Key people
 Mark Vaile - Chairman
Alfred Moufarrige - CEO
David Hunt - CFO
Daniel Kukucka - CIO
[1]
ProductsVirtual Offices, Serviced offices, Meeting rooms, and Coworking space
Website www.servcorp.com

Servcorp Limited is an Australian office services company founded in 1978 [2] The company operates Serviced Offices, Virtual Offices and Coworking Spaces internationally. As of June 2025, it operated across 135 floors in 39 cities across 19 countries [3] , with more than 150 locations worldwide. [4] Its offices include sites in One World Trade Center [5] , Marunouchi Trust Tower [6] and Etihad Towers [7] .

Contents

History

Foundation and early growth

Servcorp was founded in Sydney in 1978 by Alfred Moufarrige [8] . In 1980, it introduced virtual office service [9] . International expansion began In 1990 with an office in Singapore [10] , followed by entries into Southeast Asia [11] , France [12] and Japan [13] . Servcorp listed on the Australian Stock Exchange in 1999, the same year it opened its first offices in Shanghai [14] . Followed by the company being listed on the Australian Stock Exchange [15] .

International expansion 2000–2014

In 2003, The Age reported that Servcorp was the largest Australian employer in Japan, with 130 staff in Tokyo [16] . The company later expanded into Europe and North America, opening its first United Kingdom office in 2009 [17] and its first United States office in 2010 [18] . In 2010, it entered the Turkish market [19] , adding a second Istanbul office in 2011. In 2014, Servcorp opened a location in Beijing's Fortune Financial Center, and signed a long-term lease for space on the 85th floor of One World Trade Center in New York City [20] .

Recent developments 2015–present

In 2017, Servcorp announced it would spend $20 million on upgrades to its offices [21] . In February 2019, Servcorp opened its first German office in Berlin [22] . In 2020, Servcorp opened an office at One Museum Place in Shanghai and expanded existing location in Hobart and Brisbane [23] . followed by a new location in the Philippine Stock Exchange Tower in 2021 [24] .

Further openings included coworking space in Tokyo's TOHO Hibiya Promenade Building in 2023 [25] . and an office in Riyadh's King Abdullah Financial District (KAFD) in June 2024 [26] .

In 2017, the Australian Competition & Consumer Commission (ACCC), a competition watchdog, alleged that the standard form contract used by Servcorp was unfair and pursued court action. [27] [28] In 2018, an Australian Federal Court declared that 12 terms in the standard contracts used Servcorp were unfair. As part of the outcome, Servcorp agreed to a compliance program for its Australian business and agreed to pay the ACCC's legal costs. [29]

Products and Services

Virtual Office

Servcorp introduced Virtual office services in 1980 [30] . This service provide businesses with a business address, telephone answering, and receptionist facilities without requiring a permanent office [31] . Additional services include access to meeting rooms, coworking spaces and administrative assistance [32] .

Serviced Office

The company also offers Serviced offices under short-term agreements [33] . These offices are furnished and include services such as internet access, telephone lines, reception staff and meeting rooms. As of 2024, the company managed approximately 141,000 square meters of office spaces across 20 countries and 132 floors in 40 cities [34] .

Coworking

Servcorp operates coworking spaces [35] where individuals from different organisations share office facilities and infrastructure [36] .

References

  1. ↑ Servcorp Ltd (ASX: SRV) Share Price – Market Index; Servcorp Ltd is engaged in the provision of executive serviced and virtual offices, coworking, and IT, communications, and secretarial services, operating in 20 countries, 41 cities, and 150 locations globally.
  2. ↑ "Forty Years And Counting: Servcorp's Long-Serving CEO Alfred George Moufarrige". Entrepreneur Middle East. 21 May 2017. Retrieved 28 August 2025.
  3. ↑ "Market Announcement – Full Year Results (Servcorp Limited)". Market Index. 14 August 2025. Retrieved 22 August 2025.
  4. ↑ "International co-working outfit Servcorp to join Site 9". Willis Bond International. 4 March 2022. Retrieved 25 August 2025.
  5. ↑ Staff, TRD (26 August 2014). "Servcorp signs 15-year lease at One World Trade Center". The Real Deal. Retrieved 2 September 2025.
  6. ↑ "Servcorp Marunouchi Trust Tower Main". The CoWorking Spaces. Retrieved 2 September 2025.
  7. ↑ "Servcorp opens second office center in Abu Dhabi at Etihad Towers". Zawya. Retrieved 2 September 2025.
  8. ↑ "Forty Years And Counting: Servcorp's Long-Serving CEO Alfred George Moufarrige". Entrepreneur Middle East. 21 May 2017. Retrieved 28 August 2025.
  9. ↑ "Flexible Offices and Workspace Provider Profile – Servcorp". The Office Providers. 21 July 2020. Retrieved 26 August 2025.
  10. ↑ "SERVCORP SERVICED OFFICES PTE LTD (198700527W)". Companies.sg. Retrieved 22 August 2025.
  11. ↑ "Serviced office provider helps SMEs beat big players". Philstar.com. 16 July 2012. Retrieved 1 June 2016.
  12. ↑ "SERVCORP PARIS (HOTTDESK-SERVCORPVIRTUEL)". Annuaire des Entreprises (data.gouv.fr). Retrieved 22 August 2025.
  13. ↑ "Servcorp Japan K.K. – Company Details". CareerCross. Retrieved 22 August 2025.
  14. ↑ "Servcorp". Shanghai. Retrieved 27 January 2024.
  15. ↑ "SERVCORP LIMITED details". Asx.com.au. Archived from the original on 4 March 2016. Retrieved 1 June 2016.
  16. ↑ Paul Robinson (20 October 2003). "Servcorp back at top end of town". Theage.com.au. Retrieved 1 June 2016.
  17. ↑ “Half-Year Results Presentation – December 2024,” Servcorp Limited, ASX announcement, 19 February 2025. Retrieved 25 August 2025, from https://www.marketindex.com.au/asx/srv/announcements/half-year-results-presentation-XX584359.
  18. ↑ “Half-Year Results Presentation – December 2024,” Servcorp Limited, ASX announcement, 19 February 2025. Retrieved 25 August 2025, from https://www.marketindex.com.au/asx/srv/announcements/half-year-results-presentation-XX584359.
  19. ↑ “Full Year Results Presentation – 2010,” Servcorp Limited, ASX announcement, published 26 August 2010. Retrieved 26 August 2025, from https://www.marketindex.com.au/asx/srv/announcements/full-year-results-presentation-XX603501.
  20. ↑ Young, Celeste (26 August 2014). "Servcorp Takes 35K SF at 1 WTC". Commercial Observer. Retrieved 25 August 2025.
  21. ↑ "How WeWork forced Servcorp's transformation". Business News Australia. November 2019. Retrieved 26 August 2025.
  22. ↑ "Full Year Results Presentation". Market Index. 28 August 2019. Retrieved 26 August 2025.
  23. ↑ "Annual Report to shareholders – Servcorp Limited (ASX:SRV)". Market Index. 1 October 2020. Retrieved 28 August 2025.
  24. ↑ "Annual Report to shareholders – Servcorp Limited (ASX: SRV)". Market Index. 8 October 2021. Retrieved 28 August 2025.
  25. ↑ "サーブコープ、日比谷駅直結 東宝日比谷プロムナードビル 最上階に新拠点を開設". PR Times (in Japanese). 4 August 2023. Retrieved 25 August 2025.
  26. ↑ "Servcorp boosts Saudi business landscape with KAFD expansion". Arab News. 22 June 2024. Retrieved 25 August 2025.
  27. ↑ Johanson, Simon (26 September 2017). "ACCC takes on Servcorp over 'unfair' contracts for co-working business tenants". The Sydney Morning Herald. Retrieved 3 September 2025.
  28. ↑ Waters, Cara (15 September 2017). "Servcorp slapped with ACCC action over unfair small business contracts". The Sydney Morning Herald. Retrieved 3 September 2025.
  29. ↑ "Servcorp's business contract terms declared unfair". Australian Competition and Consumer Commission. 13 July 2018. Retrieved 3 September 2025.
  30. ↑ Flexible Offices and Workspace Provider Profile – Servcorp | The Office Providers. Retrieved [today's date], from The Office Providers (https://www.theofficeproviders.com/servcorp-flex-office-provider/).
  31. ↑ "The history of the Virtual Office: From PO Boxes, to Tax Havens, to AI-Powered Solutions". House of Companies. 22 November 2024. Retrieved 26 August 2025.
  32. ↑ "The Evolution of Virtual Offices". VirtualOfficeEurope. Retrieved 26 August 2025.
  33. ↑ "What Is a Serviced Office?". Coworkinged. Retrieved 25 August 2025.
  34. ↑ "Servcorp enjoys stronger growth from flexible office". Green Street News. 22 August 2024. Retrieved 25 August 2025.
  35. ↑ "Flexible Offices and Workspace Provider Profile – Servcorp". The Office Providers. 21 July 2020. Retrieved 28 August 2025.
  36. ↑ "What Is Coworking? A comprehensive guide to shared workspaces". Envoy. Retrieved 27 August 2025.
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