Barings and joint venture partner and development manager LBS Properties have let 32,000 sq ft to flexible space provider NewFlex on a 15-year term at the TIDE development in London’s Bankside.
The NewFlex at TIDE space comprises parts of the lower ground and ground floors, and the entirety of the first and second floors.
NewFlex at TIDE will offer a range of amenities from meeting rooms to single-desk member workstations and self-contained private offices, along with a lower ground lounge, conference and meeting space that can accommodate more than 80 people.
Ian Mayhew, head of real estate equity asset management – Europe at Barings, said: “NewFlex is the ideal operator to launch NewFlex at TIDE with, which will create a sustainable and trusted workplace experience with both private and collaboration space, as well as regular and tailored wellness, social and professional events.
“From its sustainability credentials to its digital connectivity and design, TIDE is a truly best-in-class office development in central London that, particularly now with the addition of NewFlex at TIDE and its affordable spaces, is especially well-placed to be an incubator of thriving business.”
Nick Crawford, CEO of LBS Properties, added: “TIDE is a prime example of how environmental and social sustainability are integral to the future of workplaces. The addition of NewFlex to TIDE’s occupier mix, following the pre-let to Costello Medical last year and advanced negotiations on the remaining space, is a testament to the strength of the asset that we have developed alongside Barings and reinforces our conviction in best-in-class offices and Bankside as a prime location.”
Steve Jude, CEO of NewFlex, said: “Barings and LBS have created a standout model of what the future of the office looks like with TIDE. NewFlex at TIDE will be a space that benefits not only our members, but also other occupiers of the building and the members of the public in Southwark and beyond, making it an inclusive space that brings people together to achieve more through working together and flexibly. Having already secured our first customer for the space, we can tell this will be an exceptionally popular venue for our members as we look to expand our premium and affordable serviced workspace.”
Cushman & Wakefield, RX London and USP are letting agents on TIDE.
