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THE HEIR APPARENT TO A FAMILY-RUN PUBLIC COMPANY ON HOW SERVCORP PLANS TO SCALE-UP INTO THE US

By Administrator | 18 September 2017

IT'S A FAMILY business that began almost by accident 40 years ago, and now Servcorp (ASX: SRV) has grown to become the world's leading provider of serviced offices, virtual offices and coworking spaces.

It all began as a solution to a fairly simple problem and has now evolved to cover 150 floors across more than 50 cities in 24 countries with advanced IT infrastructure binding it all together.

In 1978, Alf Moufarrige leased a quarter of a floor in Sydney's MLC centre and then sub-leased the unused space to other companies, using chalk to draw out furniture and equipment he would purchase as money came in.

The 76-year-old property legend is still the CEO and his successor-in-waiting is son Marcus (pictured) who holds the position of COO and has been often compared to James and Lachlan Murdoch waiting to take over from their father Rupert Murdoch.

Business News Australia spoke with Marcus Moufarrige about Servcorp's recent foray into the US and how his father was transformed from property developer to serviced office provider. Read more

Ben Hall - Business News Australia - 15 Sep 2017

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