Orega, the flexible workspace provider, has signed a ten-year Management Agreement deal with Pearson PLC to create high spec flexible workspace at 80 Strand, Riverside, London WC2. This is Orega’s first move into the West End and represents another high-profile corporate partnership for the flex operator.
The new space will open in late Spring 2024.
Orega will design and create approximately 35,000 sq ft of flexible workspace on the ground floor of the 550,000 sq ft office building, to provide 630 workstations.
In addition, there will be substantial collaboration, meeting and event spaces.
80 Strand has recently been completely refurbished to include M&E upgrades, a remodelled main reception, enhanced communal spaces, new shower and cycle facilities and wellness improvements throughout.
It is located in a prime Central London location in the heart of Covent Garden, right on the river Thames, providing breathtaking views across London. The many amenities of both the Strand and Covent Garden, including restaurants, coffee bars, gyms, theatres and hotels, are only a short walk away.
Public transport connections are excellent with Charing Cross, Embankment, Temple and Covent Garden stations all within 8 minutes’ walk. Waterloo Underground and Mainline Stations are also within a 15-minute walk, providing extensive travel links.
The new workspace is designed to be a modern, flexible base for London’s professionals and offers brand new:
80 Strand is the first flexible workspace that Orega has launched in the West End and the seventh in London. This year alone Orega has launched four other flexible workspaces in the capital- at Holborn Gate, WC1 and in Mark Lane, Lime Street and Gracechurch Street in the City.
The company now offers flex space from 26 office locations across the UK and is the UK’s leading provider of flexible workspace under Management Agreements.
Alan Pepper, CEO of Orega commented: “As hybrid working appears to become the norm, many corporates are looking to re-purpose their excess space. Through our joint venture Management Agreement, Orega provides a forward-thinking solution to corporates, especially when brand retention and potential re-occupation are key drivers in the decision making.”
Ben Hutchen, Property Director at Orega added, “At 80 Strand, we have created another high-profile corporate partnership, thereby mitigating a liability and creating an amenity for our partner.
80 Strand is a high spec office building in a vibrant Central London location, and we are excited about the opportunity to re-purpose some of this office space for flex. We continue to see increasing demand for flex space in London* as a whole. We now have seven flexible workspace centres in the capital.”
Gryphon advised Pearson.
*According to CBRE flex space will increase from representing 10% of central London office stock to 20% by 2028.