Orega expands at 70 Gracechurch

Orega has taken a further 37,000 sq ft at 70 Gracechurch Street, EC3. The management agreement for the 4th and 7th floors will add to the 50,000 sq ft on the 2nd and 3rd floors already operated by the serviced office provider. Orega said its existing space was at 95% occupancy. The new workspace, which will provide 650 workstations, will be design-led and focused on hospitality. Orega chief executive Alan Pepper said: “We will now be managing more than 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 is the third management agreement Orega has secured in the City, following 28,000 sq ft at 70 Mark Lane, EC3 and 36,000 sq ft at 51 Lime Street, EC3 in August. Orega now runs more than 220,000 sq ft of flex space across seven locations in London, with a total portfolio of around 605,000 sq ft across the UK. Pepper added: “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. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews Image: PR