Flexible workspace provider Orega has completed a new management agreement with WTW for 36,000 sq ft of high spec flex space at 51 Lime Street in the City of London.
The new space, which will open at the end of this year, will cover the 6th and 7th floors of the 473,612 sq ft, 27-storey Norman Foster-designed tower.
Ben Hutchen, real estate director at Orega, said: “By offering our joint venture management agreement, Orega provides a forward-thinking disposal solution to corporates who may be looking to re-purpose their excess space, following changes in working patterns.
“Our management agreement not only enables corporate businesses to quickly mitigate excess real estate costs, but also provides them with modern hospitality-led amenities, as well as enabling them to keep control of their space. This is essential when brand retention and potential re-occupation are important considerations. As a result, more and more large occupiers are considering this route.”
Lynsey O’Keefe, COO of Orega, added: “51 Lime Street is an iconic building, and we are excited about the opportunity to bring to market premium flex space with everything to meet today’s working needs. We continue to see increasing demand for flex space in the City of London, and we now have seven flexible workspace centres in London as a whole.”
WTW was advised by BNP and Colliers.
