Flexible workspace provider expands in City of London with “striking” new location

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 workspace will soon be open for business. The 27,832 sq ft flexible workspace is currently being refurbished to provide around 520 workstations on the 1st and 2nd floors of the 16-storey building. In addition, there is substantial collaboration, meeting 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.

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.”

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.

By Matthew Neville – Senior Correspondent, Bdaily

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