Grosvenor has unveiled plans to build a 300,000 sq ft flexible workspace portfolio by transforming around 20% of its existing office stock across London and other major cities into flex space.
The company has already opened 18 locations in the past year offering circa 135,000 sq ft of flex space and Grosvenor said all the sites were “leasing ahead of expectations”.
In addition to Grosvenors’ established flex operation in Eccleston Yards, 25EP, new locations in the capital include 128 and 162 Buckingham Palace Road and Fivefields in Victoria as well as 50 Grosvenor Hill, 34 Brook Street (pictured) and 35 Grosvenor Street in Mayfair.
Grosvenor expects to add eight further flexible locations in London and two spaces in Manchester this year, increasing its portfolio by approximately 46,000 sq ft.
James Raynor, CEO of Grosvenor Property UK, said: “The flight to quality is as true for flex as it is for traditional office space. We see a significant opportunity in bringing together the right teams, products and services to deliver a premium offer that provides occupiers with the choice and flexibility that they are looking for. Our experience at 25EP, and significant demand for our new locations, shows that we can successfully create an atmosphere and collaborative opportunity for businesses that can’t be replicated in a home working or conventional office setting.
“Flex and our ongoing investment in new products and services that meet changing occupier needs is a core part of our growth strategy. We’re moving quickly and, by the end of this year, we expect to have delivered over half of the space dedicated to this plan.”
