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British Land has jumped on the flexible working wagon with its new brand Storey

Property developer British Land has launched its new flexible workspace brand this week as it looks to capitalise on shifting priorities and changing tastes in the commercial property market.

Storey is the developer’s flexible workspace offering which will provide ambitious and high growth businesses, as well as larger organisations, with flexible space within its current marquee developments.

Targeted at companies currently employing between 20 and 70 people, the new brand will be centered initially around its Broadgate, Paddington and Regent’s Place campuses, with those on flexible terms still benefiting from the amenities and facilities of the wider campus.

Chris Grigg, Chief Executive said that the new arm has been formed in reaction to changing trends in the workplace as political and economic uncertainty pushes more companies to shorter and more flexible leases.

He said: “By understanding the needs of ambitious SMEs and project teams, providing the right space for them and removing the hassle of running an office, it allows them to focus on their own businesses.

“We have the benefit of owning the buildings in which Storey will operate giving us much greater control of the service and experience customers receive, such as the quality of the technology and continuity of the Wi-Fi, one of the top frustrations identified in our research.”

According to British Land, 80,000 sq ft of flexible space is being fitted out with initial offices at 18-20 Appold Studios and 2 Finsbury Avenue at Broadgate, and at International House, Ealing Broadway.

The developer has also earmarked a further 80,000 sq ft to be opened under the Storey brand as the year progresses.

The launch of its new brand points towards the explosion in small businesses in the last decade or so, meaning big players such as British Land can no longer just look at the big players or the top end of the market.

Companies such as London-based Workspace Group and American giant WeWork have snared much of the market thanks to early bets on the need for well-equipped, flexible spaces along with a raft of smaller players offering more boutique offerings.

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