Orega, the flexible workplace provider has expanded its successful flex space offering on the fifth floor of 20 Old Bailey, London EC4, taking an extra 9,700 sq. ft, increasing its occupancy by a third and allowing for another 180 desks. Orega now has the entire fifth floor- a total of 25,409 sq. ft , offering a total of 465 desks.
Orega will be refurbishing this space and plans to open it for new clients in April 2026.
This expansion follows a tripartite agreement between Barings, Orega and OPEN Health. Orega already operates flexible workspace across two-thirds of the floor under a management agreement with Barings, with OPEN Health occupying the remaining space.
OPEN Health has worked alongside Orega to reconfigure its space in the building to better reflect its evolving working patterns. Rather than relocating at lease expiry, OPEN Health will instead transition into the newly refurbished space within the expanded flexible space, taken on and run by Orega.
Orega’s current operation at 20 Old Bailey has been highly successful to date, maintaining an occupancy rate of over 95% for several years.
20 Old Bailey is in the heart of the City, with good transport links at St Paul’s and Bank underground stations and with Thameslink and Farringdon stations within walking distance.
It has a stunning entrance and reception area with a floor-to-ceiling central atrium, allowing plenty of natural light to flow through to create attractive, contemporary space. The private offices themselves are luxurious, with modern furnishings, functional décor, soundproofing and twice the average desk space per person, creating a comfortable work environment.
Ben Hutchen, Real Estate Director at Orega said, “This deal is a win win solution for all parties. The agreement demonstrates how flexible workspace can support changing business needs while maintaining continuity; Barings has avoided the letting void it would have faced if OPEN Health had left the building and Orega has been able to expand its flexible offering in a popular location.”
Alan Pepper, CEO of Orega added, “ I am delighted we have all been able to work together to find a solution that satisfies each of us.
At Orega we pride ourselves on working closely with our landlords and corporate JV partners and our customers to create flexible property solutions to meet all needs.”
Orega will continue its growth journey, building on strong market demand for flex space. It now offers flex space from 25 locations across the UK, eight of which are in London. It is the UK’s leading provider of flexible workspace under innovative joint venture agreements with landlords and corporates.
