Flexible workspace operator Runway East has signed a deal to deliver more than 45,000 sq ft of flex space at 24-28 Bloomsbury Way in London.
Runway East has entered into a joint venture partnership agreement with the current leaseholder of the building and landlord abrdn to take on the surplus office space, which following refurbishment and fit out will open in winter 2023.
The building, which is Runway East’s ninth site, will offer space for teams of four to 100 people in addition to a 120-person event space, secret garden, break out space and a boardroom for up to 20 people.
Natasha Guerra, CEO of Runway East, said: “Bloomsbury, part of Midtown, has a strong established office market, it is home to global household brands in the legal, creative and design sector. The opening of the Elizabeth Line has only made it more accessible – with over 45% of working aged Londoners able to commute there within 45 minutes – making it one of the easiest places to commute to.
“There has been a fundamental shift in how we use space, and our deal is responsive to that change as businesses consolidate the space they need, and collaborate with businesses like ours to create in-demand offices for smaller businesses.”
Douglas Green of g8 Consult, who brokered the deal for Runway East, added: “I am delighted to have completed another significant transaction for RWE in Central London. This deal demonstrates both the strong demand for great buildings and the possibilities of the repositioning of older office stock into the flex marketplace.”
Mark Kleinman of James Andrew International, who acted for the leaseholder, said: “We were approached by a number of flex operators for this building and our choice of partner ultimately was determined by Runway East’s commitment to the project, business plan and reputation.”
