Flexible workspace operator Co-Space has signed a profit share lease on 19,000 sq ft at the 70,000 sq ft Elder House office building in Milton Keynes
Co-Space has signed a 15-year profit share lease on the building – its third site – which sits 150m from the town’s train station.
As well as offering private office and co-working space, there will also be a new café/business lounge on the ground floor to re-position the building which is undergoing substantial capital investment from the landlord.
Will Kinnear, founder of HEWN, who acted for Co-Space, said: “Milton Keynes is booming, it has one of the highest rates of new businesses in the UK, with a colossal 42.7% survival rate. Co-Space’s other sites in Stevenage and Reading are both over 90% full, with a focus on supporting and enabling local businesses. Located next to the mainline station, it is a superb home for enterprise.”
William Stokes, CEO and co-founder of Co-Space, added: “Our spaces in Stevenage and Reading are both almost at capacity, we’re excited to be growing into a new space and location. Milton Keynes’ economy is growing, particularly in the IT, tech and consultancy sector, we are geared to support these businesses via a strong hospitality offer and connectivity. We look forward to partnering with the Landlord to create high quality, design led workspace that will enable Elder House to attract occupiers looking for short or long term deals, no matter their size.”
Work has already commenced on site and it is expected the Co-Space space will be operational by Summer 2023. Avison Young and Louch Shacklock, who represented the private landlord on the deal, are also marketing conventional office space in the building, with suites available from 930 sq ft.
