Orega, the flexible workspace provider, has completed another new Management Agreement to create further high spec flexible workspace at 70 Gracechurch Street, EC3.  The new space will open in January 2024

The 37,000 sq ft of flexible workspace will be newly refurbished to provide around 650 workstations on the 4^th and 7^th floors of the building. In addition, there will be substantial collaboration spaces and meeting room services.

Orega already has management agreements in the building and operates 50,000 sq ft. of flex space on the 2^nd and 3^rd floors. The scheme has been hugely successful to date and is consistently at 95+% occupancy. Orega plans to manage the new space in a similar successful way.

The new space means Orega will therefore be managing over 87,000 sq ft of flex space at Gracechurch Street, a testament to how successful it has been with its current flex space in the building.

70 Gracechurch Street is a 200,000 sq ft building located in the heart of the City, just minutes from Bank tube station. It is close to many local amenities including restaurants, coffee bars, gyms and retail and is situated next to the historic Leadenhall Market, one of London’s oldest marketplaces. 

The new workspace is designed to be a modern, flexible base for the area’s professional and financial businesses, and will offer 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

The new space will help consolidate Orega’s offering of flexible workspace in the City.

Orega recently announced the acquisition of 27,832 sq ft at 70, Mark Lane, EC3 and approx. 36,000 sq ft at 51, Lime Street EC3 in August. The expansion at Gracechurch Street therefore is the third management agreement it has announced in the City in the last three months.

The company now offers flex space from six locations in London, where it now runs over 220,000 sq feet of space out of its total portfolio of around 605,000 sq ft across the UK. It is the UK’s leading provider of flexible workspace under Management Agreements (as opposed to leases).

Ben Hutchen, Real Estate Director at Orega, commented: “Given the changing nature of working patterns, high quality flex space in London is increasingly popular. Latest research from the Instant Group* shows that occupancy rates in London are higher than average, as are occupancy rates for higher end quality space.

Our current space at Gracechurch Street has been in high demand, particularly post the pandemic. We are excited about the opportunity to operate further high-quality state of the art flexible office space in this prestigious location.”

Alan Pepper, CEO at Orega added, “We will now be managing over 87,000 sq ft of flex space from Gracechurch Street, a testament to how successful we have been with our current flex space in the building. This latest announcement means Orega’s London portfolio represents over 36% of our total portfolio and illustrates our belief that despite current uncertain market conditions, the demand among London businesses for high end quality flexible workspace remains high.”

Allsop advised the corporate occupier on the management agreement.

*The Instant Group has also forecast that by 2030 the flexible workspace market will have grown by over 500% and make up at least 25% of the UK office market”.

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The billionaire Issa brothers, Mohsin and Zuber, with the backing of TDR Capital, are said to be in negotiations with Australian firm Macquarie Asset Management regarding a sale.

The deal would see Macquarie purchase the ground rent leases of around 50 Asda stores, with a clause allowing the supermarket retailer to reassume control of the sites at the end of the 50-year term.

Asda would then be able to pay lower rents at these stores while raising higher amounts of equity.

The Issa brothers acquired the Asda estate from Walmart in 2021 in a deal worth £6.8bn, however some £2.75bn of debt was included in the transaction.

In March, it was reported that the billionaire brothers were eyeing the sale-and-leaseback of the entire Asda estate, worth £8.6bn.

The supermarket retailer then disposed of 25 stores to American investor Realty Income in a sale-and-leaseback deal worth £650m.

Asda recently reported an increase in sales during the second quarter, which the supermarket said reflected the “strength” of its customer proposition.

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Commissioned by West Berkshire Council and developed by Alliance Leisure working in partnership with Myrtha Pools and Universal Civils & Build through the UK Leisure Framework, the new outdoor facilities include a 50 metre, Olympic length outdoor swimming pool, a splash pad and fun slides, beach hut style changing rooms, a sun terrace and a relaxation area, all of which are fully accessible.   

Greg Walker, Business Development Manager at Alliance Leisure, says: “It’s fantastic to see so many people enjoying this amazing space again. There has been a lido on this site since 1870 so it’s part of the local DNA.  

“The original pool was affected by ground water levels, which, over the years, undermined the integrity of the structure and became increasingly expensive to maintain. Now that the pool has been re-engineered with the benefit of modern-day learnings and technologies, families will be able to enjoy the many physical, mental and social benefits of this amazing facility for generations to come.” 

It is forecast that the new facilities, opened on the 21^st August 2023, will accommodate 50,000 attendances each season. 

Kevin Burns, UK business development manager at Myrtha Pools, says: “Like most lidos across the country, modern technology is affording leisure operators the chance to redevelop and plan for the future. 

“The new pool benefits from our precision engineered chromium-rich steel technology, which futureproofs the lido for decades to come, both in terms of ongoing maintenance costs and sustainability savings. This project is a prime example of how existing facilities can be renovated and improved upon, without beginning a new build process from scratch, which is increasingly important as council’s and leisure operators look to optimise budgets.” 

In addition to attracting more visitors to the facility through the inclusion of the splash pad, main pool, slides, residents will now also enjoy an extended season. 

Greg Walker explains that this is thanks to the redesign of the pool. He says, “By shortening the pool from 72 metres to 50 metres and reducing the depth from a maximum of 2.8 metres to a profile from 0.9m to 1.58m, pressure on the structure has been reduced and maintenance demands have been eased. This means the facilities can now be operational from April right through to the end of September. This not only extends access to this amazing community provision, but has created a more sustainable financial proposition.” 

Adding to this, Martin Davies, Director at Universal Civils & Build, says: “We have been privileged to manage this project almost from inception, through detailed design and build, to final delivery. This has not been without its complications imposed by budget, timescales & engineering complexity but has been a great challenge. We have used the in-house ground solution & piling teams of our Group to support us, which alongside Myrtha Pools has allowed us to jointly create a wonderful community facility.”

The UK Leisure Framework, owned by Denbighshire Leisure LTD (DLL) has supported many community leisure development projects from full scale multisite leisure centre new builds to 3G pitches and pump tracks. Speaking about this project, Jamie Groves, Managing Director, says: “This is exactly the kind of project we launched the Framework to support. The Northcroft lido has been a part of the community’s landscape for more than a century and it’s fantastic to secure its future for many more years to come.  

“This was a technical project that required a high level of specialist expertise. Through the UK Leisure Framework we were able to engage expertise at all levels of the supply chain and feed this back through a single point of contact, Alliance Leisure. This helped to mitigate any risks that could threaten the budget or timescale of the project and ensured a smooth transition from concept through to launch.” 

Janine Lewis, West Berkshire’s Executive Member for Public Health, Culture, Leisure, Sport and Countryside added, “Working in partnership with Alliance Leisure, we’ve breathed new life into a much-loved facility and created a model that will enable thousands of residents and visitors from far afield to enjoy the pleasures of outdoor swimming and other water activities for many years to come. We can now all celebrate the success of this project together.” 

Moving forwards, Everyone Active has been appointed under a ten-year term to manage the Northcroft Leisure Centre and Lido as part of a wider leisure management agreement with West Berkshire Council. 

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Crawley Borough Council has approved Panattoni’s planning application for Panattoni Park Crawley, which comprises two facilities of 134,012 sq ft and 65,660 sq ft on a 10-acre brownfield site on Fleming Way in the established industrial area of Manor Royal Business District, close to Gatwick Airport and junction 10 of the M23.

They will provide direct access to the affluent consumer markets of London and the south east. Manor Royal is a proven last mile and distribution location, with occupiers including Amazon, DPD, Evri, Parcelforce, Royal Mail, UPS and Yodel. Grocery occupiers include Ocado and Tesco.

Panattoni is expected to start construction at the end of September 2023 with a 12-month programme of demo and build, the speculative development is expected to reach practical completion in Q4 2024.  The facilities will be built to a BREEAM sustainability rating of ‘Excellent’ and an EPC rating of ‘A’, with many sustainability features, such as electric vehicle charging points and 15% roof lights, incorporated into the development.

Panattoni Park Crawley will be the third development start for Panattoni this year south of London, joining a 452,469 sq ft last-mile logistics development at Burgess Hill and a 268,063 sq ft development in Brighton.

David McGougan, Development Director at Panattoni, said: “Panattoni hopes to commence construction Q4 2023 and this will be the third site development in the southern sites we have commenced in the last 3 months, reflecting our confidence and strength of the south coasts’ logistics market.

This location within the Manor Royal Business Park offers tenants excellent place to service London and south east markets”.

Letting agents are JLL, Savills and Hollis Hockley.

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Building upon over 12 years’ experience working in the Cambridge Technology sector for leading semi-conductor designer, ARM Holdings, Marchini Curran will be assisting Abcam with identifying strategic opportunities to improve its existing laboratory and production facilities at the Biomedical Campus, Cambridge.

This new appointment complements Marchini Curran’s ongoing role as lead architects and designers for Oxford Science Enterprises (OSE), working on the regeneration and retro fitting of the former Clarendon shopping centre building into new flexible research and laboratory facilities.

The OSE labs in Oxford will provide world-class laboratory and serviced incubator accommodation,

a steppingstone for the burgeoning university spin-out sector. The laboratories are conveniently located for postgraduate researchers, on the doorstep of Oxford’s renowned Universities and Colleges.

Back in Cambridge, Marchini Curran has also provided architecture and interior design services for Napp Pharmaceuticals at the Cambridge Science Park, Qualcomm semi-conductors at the Cambridge Business Park, and The Judge Business School in the heart of Cambridge University.

The Abcam opportunity builds upon Marchini Curran’s previous experience working in the Life Sciences arena where they were lead architects and designers of the Joseph Banks Laboratories for the University of Lincoln, at the Lincoln Science and Innovation Park.

With an estimated 1.8 million square foot shortfall of high-specification laboratory space identified within the ‘Golden Triangle’ region of Cambridge, Oxford and London, there is much opportunity on the horizon.

Marchini Curran Associates are excited by the prospect of growth within the Life Sciences sector and hope to expand their profile in the Cambridge, Oxford and London regions and capitalise on their expertise to deliver both new build and retrofit opportunities.

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St James Quarter has announced that the latest phase of the development will reach completion this November as W Edinburgh is set to open its doors at the new lifestyle district in Scotland’s capital. 

Located in the eastern part of Edinburgh’s city centre, St James Quarter first opened to the public in 2021 and is being delivered by Nuveen Real Estate. The 1.7 million sq foot development is a masterplan in urban placemaking and comprises of world-class retail, dining and leisure destinations as well as 152 New Eidyn residential apartments by Native Land; in addition to delivering nine new public squares and 1,600 car parking spaces.  

The launch of W Edinburgh marks an important milestone for the development as it is the centrepiece of St James Quarter and will complete the renewal of this eastern part of Edinburgh’s city centre. 

W Edinburgh encompasses three buildings including the Ribbon Building, James Craig Walk and the Quarter House. Each of its 199 rooms and 45 suites, many with outdoor terraces, offer a new perspective on the city.  

The hotel’s top floors will bring energy and flair to Edinburgh’s lively social scene. Highlights include W Lounge, SUSHISAMBA restaurant, Joao’s Place cocktail bar and terrace, chef’s table and outdoor terrace. The unique rooftop W deck also offers the finest unfettered 360-degree views of Edinburgh and beyond.   

Ed Webb, Director of Development Management at Nuveen, said: “We are excited for the launch of W Edinburgh at St James Quarter as it is the centrepiece of the development and completes the renewal of this eastern part of the city centre.  

“W Edinburgh will be the second hotel to open at St James Quarter and will add to a number of fantastic retail, dining and leisure destinations already on offer. The addition of SUSHISAMBA within the hotel will also further enhance the experience for all who visit.   

“We’re proud to be a part of the city’s growth and look forward to seeing W Edinburgh become a vibrant hub for both visitors and locals alike.”  

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About St James Quarter  

St James Quarter is Edinburgh’s largest development in a generation – a new 1.7 million sq ft masterplan in urban placemaking. Comprising 850,000 sq ft of retail space, St James Quarter complements the city centre’s retail circuit with John Lewis, Zara, & Other Stories, LEGO, H Beauty, and Kurt Geiger to name a few, it is also home to an enticing mix of new restaurants, cafés and bars including Duck & Waffle and Gordon Ramsay Street Burger. St James Quarter also includes a boutique five-screen Everyman Cinema, a luxury aparthotel brand Roomzzz, comprising 75-rooms; and 152 New Eidyn residential apartments by Native Land; in addition to delivering nine new public squares and 1,600 car parking spaces.  

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The survey of over 1,000 UK consumers, commissioned by Sirius Property Finance, asked consumers about their shopping habits and how frequently they headed to their local high street. 

When asked how often they visit, 32% stated that they rarely head to their high street, while a further 10% don’t visit at all. 

This reluctance to visit their bricks and mortar high street is largely a result of online retail options, with 54% saying they are likely to look to purchase something online before heading to their local retail outlets.

And while 21% say that the internet is simply more convenient, other common reasons for avoiding the high street include limited parking availability (24%), a poor variety of shops (22%), and high prices (14%). 

These factors mean that the most common reason to visit the high street is not general retail, but instead supermarkets and grocery shopping, which 27% say is their main reason for visiting. 

19% say they make the trip to take advantage of cafes, bars, and restaurants, while 15% say it’s for health and beauty services such as hairdressers and nail salons. 

A further 15% say they’re looking to make clothing and fashion purchases, 12% are in the hunt for home and decor outlets, 6% are visiting for entertainment such as cinemas, and 4% are shopping for electronics and technology products. 

This means that, in total, just 32% are visiting the local high street for retail purposes, while services and experiences account for the remaining 68%. 

When asked what would tempt them to visit the high street more often, general retail is once again trumped by other priorities. 

21% say that more free parking areas would be a significant draw, while 17% say they’d like to see more local and artisan markets and craft stalls. 

10% want more green spaces and gardens, and another 10% are looking for more in-store incentives and experiences.

Other things that could tempt people to spend more time on their local high street include pop-up shops and temporary exhibitions (9%), outdoor seating and communal areas (9%), regular events like concerts or festivals (9%), pedestrian-only zones (8%), and interactive technology installations (1%).

Head of Corporate Partnerships at Sirius Property Finance, Kimberley Gates, commented:

“We’ve seen a substantial shift in consumer behaviour in recent times and so the decline of the high street is by no means the fault of property developers, nor is it exclusively their responsibility to try and breathe life back into physical, local retail districts, but they certainly have an important role to play in the rejuvenation. 

When looking to ensure the future good health of the high street, commercial developers can look towards the things that people say they want – improved infrastructure, attractive outdoor areas and a more diverse range of outlets. 

When the high street was born, it had no direct competition. But with the arrival of shopping centres and online shopping, the high street must now find a way to offer something that the internet cannot

This means experiences, community, socialising, pride in the local area, and an understanding that today’s consumers have plenty of options. They need to be given a reason to frequently visit the high street and our commercial developers can play a big part in achieving this. When they do, the benefits for local communities and economies will be enormous.”

Survey results

Full survey results can be viewed online, here

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Purchased by the Corrigan family in 2002, Brookfield House has been the home to Leeds-based businesses for the last 21 years. Currently undergoing an extensive renovation, the office space is set to open in September 2023 and is already signing up new customers ahead of its launch.

Located next to Brookfield Court on Selby Road, the renovation of Brookfield House will create access between the two impressive red-brick office buildings, and will feature new office space, an open plan kitchen, a new reception and additional meeting space including two new meeting rooms and a 16-person boardroom available to the public for corporate bookings.

Oliver Corrigan, Managing Director at WorkWell, said: “Brookfield House has proudly been a part of the WorkWell portfolio for many years, and my family has personally farmed the area for 50 plus years, so we’re thrilled to be able to create a greater future for the building while respecting its incredible past.

“At WorkWell we’re proud to offer a different way of working with Leeds businesses. Our approach is not just about offering an office space with four walls. Each office park within our portfolio perfectly balances aesthetics with functionality, to create a purpose-designed office space which aligns with our member’s company values and purpose.”

Designed by northern-based creatives, Ekho Studio, the former manor house will combine impressive aesthetics with performance-enhancing technology and will feature 9,000 square feet of workable space set amongst 100 acres of accessible countryside.

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Yorkshire-based construction company, Henley Stone Restoration & Remedials Ltd, part of the Henley Group, is restoring the traditional brickwork on a 19^th century Grade II listed building complex, Rutland Mills, in Wakefield. The restoration and repair project will honour the 200-year-old architecture to transform the derelict building into a world class creative hub, Tileyard North.

Once a thriving textile mill adjacent to the contemporary Hepworth Gallery at the edge of the river Calder, the 9,300sqm historical industrial complex has been derelict for 20 years and many of the spaces have significantly deteriorated.

Award-winning restoration and remedial expert, Henley Stone Restoration & Remedials Ltd, has been appointed to oversee the restoration required to return the Grade II listed building to its former glory, honouring its original fabric and the region’s industrial heritage.

The extensive work includes complete façade restoration, structural alterations and strengthening, as well as repairs to the existing building. Alongside Furness Brick & Tile Co Ltd and HSRR, Henley Group has identified replacement brick and mortar samples that match sensitively to the existing 19th century brickwork.

Tom Cardoe, Head of Restoration at Henley Group, commented: “We’re proud to bring decades of restoration and remedial expertise to the regeneration of Rutland Mill, a landmark project which will significantly enhance the local economy – it will be The Battersea Power Station of the North”.

“By carefully repairing and restoring the building’s fabric, we will bring this historical site back to its former glory and breath life back to this once forgotten part of Wakefield. Regeneration projects bring immediate benefits to the local area and these are the kind of projects we pride ourselves on.”

Led by developers City & Principal, Stainforth Construction, architects Hawkins Brown and project manager, Opera, the site will become a thriving cultural hub with facilities for music and digital studios, start-ups, creatives, and the local community. The scheme will also create educational space, a hotel, food and drink and facilities complementary to the Hepworth Gallery.

Adam Standeven, Contracts Manager at Stainforth Construction, said: ‘It’s great to work in collaboration with a local Wakefield Restoration company, especially one that always provides a professional service, with a team who have an incredibly positive attitude towards delivering top quality work on this heritage project.”

Rutland Mills is the final stage in completing a ten-acre regeneration plan that is revamping Wakefield’s riverside. The wider plan converts the space into a mixed-use, inclusive, creative, and cultural cluster with world-class facilities.

The first phase of works, comprising of four buildings across 60,000sqft, for several uses including a work and education space, event space, bistro café and gin bar, and a central courtyard, was completed in December 2022. The new central courtyard allows for breakout activity at the ground floor, as well as providing the opportunity for large scale events, such as music and food and drink festivals. The second will be completed phase by the final quarter in 2024.

For more information on Henley Group, visit: https://www.henleystoneremedials.co.uk

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The announcement follows swiftly after Gateshead Council’s planning committee approved revised plans for the 61,440 sqm riverside scheme. Design amendments included re-location of the 344-room dual branded hotel to an adjacent site and the subsequent creation of an urban park utilising the remaining space which will create a pedestrian link from the Millennium Bridge up to Hawks Road.

Enabling works have been taking place over the last two years and Lendlease plan to make a start on site later this year.

With a GDV of £150 million, The Sage International Conference Centre will be delivered in the first phase of the scheme and will include 5,720 sqm state of the art exhibition space, 2,520 sqm adaptable meeting space, 17 conference rooms and a banqueting suite. The first phase will also include the hotel and urban park. On completion The Sage International Conference Centre will be operated by ASM Global.

Lendlease is an international real estate group that has delivered convention, event and entertainment facilities both in the UK and globally. The company brings global expertise and learnings from similar projects including the SSE Hydro (now the OVO Hydro) in Glasgow, Scotland, and the International Convention Centre in Sydney, Australia. The business is committed to creating lasting legacies and delivering new jobs, skills and sustainability initiatives on every project.

David Cadiot, Executive General Manager of UK Regions for Lendlease, said: “Lendlease has a track record of building, designing and project managing some of the world’s greatest sporting and entertainment venues. We’ll bring the know how to create an exceptional venue, one which local people will be hugely proud to have on their doorstep.”

The revised plans for the relocated hotel were granted planning permission in March 2023. Russell WBHO has been appointed as contractor on the £48m building, which will be operated by Accor under its Novotel and ibis brands. The delivery of The Sage ICC will be followed by The Sage Arena which will also be operated by ASM Global and which will be completed under a separate construction contract.

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