Orega, the flexible workspace provider, has completed a new Management Agreement with WTW to create a high spec flexible office space at 51 Lime Street in the City of London. The new space will open at the end of 2023.
36,000 sq ft of flexible workspace will be designed and created to provide a large number of workstations on the 6th and 7th floors of the 27-storey tower. In addition, substantial collaboration, restaurant, terrace, meeting and event spaces.
Designed by Norman Foster and located in the centre of the City opposite the Lloyd’s Building, 51 Lime Street is one of the City’s most iconic developments with 44,000 sq m (473,612 sq ft) of space and is one of the taller buildings in the City. The location is in the heart of EC3 with many local amenities – including restaurants, coffee bars, gyms and hotels – only a short walk away.
The new workspace is designed to be a modern, flexible base for the City’s professional and financial businesses, and offers brand new:
- Design-led space that focuses on hospitality
- More space per person than the industry norm for London
- On-site shower and changing facilities
- Unlimited barista-quality coffee
- Secure bike storage
- On-site restaurant
- Bookable auditorium
51 Lime Street is the seventh flexible workspace that Orega has launched in London and the third in the City. The company now offers flex space from 26 locations across the UK and is the UK’s leading provider of flexible workspace under Management Agreements.
Ben Hutchen, Real Estate Director at Orega, commented: “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 a 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 were advised by BNP and Colliers.