New flexible workspace given the greenlight in London
A leading workspace provider has completed a new management agreement to create a new area in the heart of the capital city.
Orega, the flexible workspace provider, have teamed up with Willis Towers Watson (WTW), a company which specialises in HR and risk-management consulting, to create a new workspace at 51 Lime Street in London.
The new development is 36,000 sq ft, with the vast number of workspaces being located on the 6th and 7th floors of the 27-storey tower. As well as providing spaces to work, the building will also be equipped with a terrace, meeting and event spaces and a restaurant.
’51 Lime Street is an iconic building, and we are excited about the opportunity to bring market premium flex space with everything to meet today’s working needs,’ Lynsey O’Keefe COO of Orgea said. ‘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.’
Due to open at the end of this year and designed by Norman Foster, the building is located in the centre of the city across from the Lloyd’s building, which is surrounded by coffee bars, restaurants, gyms, and hotels, making the area more desirable to the general public.
However, according to research from the Office of National Statistics (ONS), which was published in February 2023, 16% of adults in the UK reported that they work from home and only 28% reported both working from home and travelling to work over the period of September 2022 to January 2023.
These statistics show that since the Covid-19 pandemic, more people have returned to work in-person, suggesting there may not be a necessary need for a new workspace in the city.
Against this backdrop, as the cost-of-living continues to squeeze people’s budgets, people may not want to pay the extra cost of travelling to a workspace and paying for things such as food during the day if they do work from home.
Image: Pedro Lastra
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