Servcorp

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Servcorp Limited
Company typePublic
ASX: SRV
IndustryServiced offices
Founded1978; 47 years ago (1978)
FounderAlfred Moufarrige
Headquarters
Sydney
,
Australia
Number of locations
150+ locations
Key people
Mark Vaile - Chairman[1]
Alfred Moufarrige - CEO[2]
David Hunt - CFO[3]
Daniel Kukucka - CIO[4]
ProductsVirtual Offices, Serviced offices, Meeting rooms, and Coworking space
Websitewww.servcorp.com

Servcorp Limited is an Australian office services company founded in 1978[5]. The company operates Serviced Offices, Virtual Offices and Coworking Spaces internationally[6]. As of June 2025, the company maintained locations in 40 cities across 19 countries[7], with more than 150 locations worldwide[8]. Office locations include buildings in New York, London and other major cities.

History

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Foundation and early growth

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Servcorp was founded in Sydney in 1978 by Alfred Moufarrige[5]. In 1986,virtual office service were introduced to clients [9]. International expansion began in 1987 with entries into Asia[10] followed by entries into Japan in 1995[10] and France in 1987[11]. Servcorp listed on the Australian Stock Exchange in 1999[9], the same year it opened its first offices in Shanghai[12]. Followed by the company being listed on the Australian Stock Exchange[13].

International expansion 2000–2014

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In 2003, The Age reported that the company employed 130 staff in Tokyo[14]. The company later expanded into Europe and North America, opening its first United Kingdom office in 2009 [15] and its first United States office in 2010[15]. In 2010, it entered the Turkish market[16], adding a second Istanbul office in 2011. In 2014, Servcorp opened a location in Beijing's Fortune Financial Center and signed a lease for office space in the One World Trade Center in New York City[17].

Recent developments 2015–present

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In 2017, the company announced plans to upgrade its office infrastructure[6]. In February 2019, Servcorp opened its first German office in Berlin[18]. In 2020, Servcorp opened an office at One Museum Place in Shanghai and expanded existing location in Hobart and Brisbane[19], followed by a new location in the Philippine Stock Exchange Tower in 2021[20].

Further openings included Yanmar Tokyo Promenade Building and Bell Gully New Zealand in 2023 [9]. and an office in Riyadh's King Abdullah Financial District (KAFD) in June 2024[21].

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[22][23]. 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[24].

Products and Services

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Virtual Office

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Virtual office services were introduced to Servcorps clients in 1986[9]. This service provide businesses with a business address, telephone answering, and receptionist facilities without requiring a permanent office[25]. Additional services include access to meeting rooms, coworking spaces and administrative assistance[25].

Serviced Office

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Servcorp provides serviced office spaces, which include basic infrastructure and administrative support[26]. As of 2024, the company operates across 20 countries and 132 floors in 40 cities[27].

Coworking

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Servcorp operates coworking spaces[6], which individuals and teams from different companies work in a shared, communal space[28].

References

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  1. ^ "ASX Announcement". Australian Securities Exchange (ASX). 2024. Retrieved 29 September 2025.
  2. ^ "ASX Announcement". Australian Securities Exchange (ASX). 2025. Retrieved 29 September 2025.
  3. ^ "Market Announcement – Full Year Results". Market Index. Servcorp Limited. 14 August 2025. Retrieved 25 September 2025.
  4. ^ "Annual Report to Shareholders". Market Index. Servcorp Limited. 10 October 2024. Retrieved 25 September 2025.
  5. ^ a b "Forty Years And Counting: Servcorp's Long-Serving CEO Alfred George Moufarrige". Entrepreneur Middle East. 21 May 2017. Retrieved 28 August 2025.
  6. ^ a b c Barzilay, Omri (7 December 2017). "Servcorp Invests \$30 Million To Join The Co-Working Game". Forbes. Retrieved 24 September 2025.
  7. ^ "Servcorp Reports Record Full Year Results – Full Year Results Announcement (Year Ended 30 June 2025)". Servcorp Limited. 14 August 2025. Retrieved 24 September 2025.
  8. ^ "Annual Report to Shareholders". Market Index. Servcorp Limited. 12 October 2018. Retrieved 25 September 2025.
  9. ^ a b c d "Annual Report to shareholders – Servcorp Limited (ASX: SRV)". MarketIndex – ASX Announcement. 12 October 2023. Retrieved 22 September 2025.
  10. ^ a b Hall, Ben (15 September 2017). "The heir apparent to a family-run public company on how Servcorp plans to scale-up into the US". Business News Australia. Retrieved 23 September 2025.
  11. ^ "Servcorp (Paris) — Société.com". Société.com. Retrieved 24 September 2025.
  12. ^ "Defining the serviced office". China Daily. 9 November 2011. Retrieved 22 September 2025.
  13. ^ "SERVCORP LIMITED details". Asx.com.au. Archived from the original on 4 March 2016. Retrieved 1 June 2016.
  14. ^ Paul Robinson (20 October 2003). "Servcorp back at top end of town". Theage.com.au. Retrieved 1 June 2016.
  15. ^ a b “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.
  16. ^ “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.
  17. ^ Young, Celeste (26 August 2014). "Servcorp Takes 35K SF at 1 WTC". Commercial Observer. Retrieved 25 August 2025.
  18. ^ "Full Year Results Presentation". Market Index. 28 August 2019. Retrieved 26 August 2025.
  19. ^ "Annual Report to shareholders – Servcorp Limited (ASX:SRV)". Market Index. 1 October 2020. Retrieved 28 August 2025.
  20. ^ "Annual Report to shareholders – Servcorp Limited (ASX: SRV)". Market Index. 8 October 2021. Retrieved 28 August 2025.
  21. ^ "Servcorp boosts Saudi business landscape with KAFD expansion". Arab News. 22 June 2024. Retrieved 25 August 2025.
  22. ^ 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.
  23. ^ Waters, Cara (15 September 2017). "Servcorp slapped with ACCC action over unfair small business contracts". The Sydney Morning Herald. Retrieved 3 September 2025.
  24. ^ "Servcorp's business contract terms declared unfair". Australian Competition and Consumer Commission. 13 July 2018. Retrieved 3 September 2025.
  25. ^ a b Kenton, Will. "Virtual Office: Definition, Costs, Benefits, Drawbacks." *Investopedia*. Updated December 28, 2022. Reviewed by David Kindness. Retrieved September 22, 2025, from https://www.investopedia.com/terms/v/virtual-office.asp
  26. ^ "Servcorp back at top end of town". The Age. 20 October 2003. Retrieved 24 September 2025.
  27. ^ "ASX Announcement". Australian Securities Exchange (ASX). 2024. Retrieved 29 September 2025.
  28. ^ Fox, S. (2021). "Coworking spaces: An overview and research agenda". Journal of Urban Economics (or whatever journal it is). some volume: some pages. Retrieved 22 September 2025.