Leading flexible workspace agrees new Management Agreement for its 6th London flex space.
Orega, the flexible workspace provider, is expanding in the City of London to offer new high spec flexible workspace at 70, Mark Lane EC3. The launch of the new space follows the completion of a new Management Agreement with a corporate occupier client of Allsops.
The 27,832 sq ft flexible workspace is currently being newly refurbished to provide around 520 workstations on the 1st and 2nd floors of the 16-storey building. In addition, there is substantial collaboration, meeting room and event spaces.
70 Mark Lane is a striking 170,000 sq ft Grade A prime office building located in the centre of the traditional insurance area of the City, adjacent to Fenchurch Street station and a short walk from Aldgate, Bank and Monument underground stations. It is close to many local amenities including restaurants, coffee bars, gyms and hotels within a short walk.
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
- A wide choice of different working zones space
- Large meeting room suite
- More space person than the industry norm
- On-site shower and changing facilities
- Unlimited barista-quality coffee
- Secure bike storage facilities
It is the sixth flexible workspace that Orega has launched in London and the second in the City. The company now offers flex space from 24 locations across the UK and is the UK’s leading provider of flexible workspace under Management Agreements (as opposed to leases).
Ben Hutchen, Real Estate Director at Orega, commented: “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.”
According to the Instant Group* there has been an increased demand for flexi space in the first half of 2023 in comparison to 2022 showing that the City remains a key location for businesses and employees.
Founded in 2001, Orega is one of the UK’s most established flexible workspace brands. Orega offers stylish, flexible workspace without the headaches of old-fashioned leases. Over the last 20 years, they have provided our clients with modern spaces, run by brilliant teams, and powered by supercharged technology. Today, they operate 24 centres in central locations across the UK, helping over 10,000 members boost their productivity every day.
Orega is the UK’s no. 1 provider of flexible workspace under Management Agreements. They pioneered the model with the vision that partnership leads to success for all. Promising never to cut corners or prioritise style over substance, they invest in their spaces so you customers can unleash their productivity, communication & creativity.
*market independent research company