Orega is opening a new 27,832 sq ft flexible workspace centre at 70 Mark Lane in the City of London.
The company has completed a management agreement with a corporate occupier client of Allsops on the newly refurbished space, which will shortly open for business.
Orega will provide around 520 workstations on the first and second floors of the 170,000 sq ft 16-storey building, which sits adjacent to Fenchurch Street station.
Ben Hutchen, real estate director at Orega, said: “As new working practices evolve in the City, with hybrid working becoming the norm, many corporate occupiers do not need the volume of space they needed previously. By offering our joint venture management agreement, Orega can provide an alternative solution to corporates with excess space, allowing them to retain their brand whilst giving them the flexibility to take back space should they need it down the line. We are seeing an increasing number of large occupiers considering this route.”
Lynsey O’Keefe, COO of Orega, added: “We see great opportunities for flex space in the City of London, and we now have six flexible workspace centres in London as a whole. We believe we are successfully catering for the demand from businesses who are increasingly looking for a flexible way to occupy property; a trend which we believe will continue to be in demand with the current economic uncertainty and reluctance of businesses to be tied into long leases, whilst requiring high quality ‘state-of-the-art’ property. We are excited about the space we are creating at Mark Lane and believe it will launch well.”
