Spacemade signs for Hackney Wick hub in expansion drive
Flexible workspace operator Spacemade has inked a management agreement for a 58,000 sq ft creative campus in Hackney Wick, east London, in a move that will double the size of its platform.
The operator has signed a deal with Southern Housing Group to deliver a flexible workspace building, along with maker spaces for more than 800 members, at its mixed-use quarter at Dace Road, E3 (pictured).
The workspaces will sit alongside 144 mixed-tenure homes delivered by Southern Housing.
Flexible workspace operator Spacemade has inked a management agreement for a 58,000 sq ft creative campus in Hackney Wick, east London, in a move that will double the size of its platform.
The operator has signed a deal with Southern Housing Group to deliver a flexible workspace building, along with maker spaces for more than 800 members, at its mixed-use quarter at Dace Road, E3 (pictured).
The workspaces will sit alongside 144 mixed-tenure homes delivered by Southern Housing.
The news comes after the flexible space operator signed a management agreement for a 17,000 sq ft office in Archway, north London, in April.
The flexible offices, at 724 Holloway Road, N19, will provide capacity for 250 members. It will be divided into co-working space, a coffee bar and an event space on the ground floor. It will also offer private offices for two to 35 people on second, third and fourth floors, as well as private terraces.
The Archway location is owned by individuals associated with an Israel-based fintech business called Moneynetint.
The deals bring Spacemade’s “close-to-home” London workspace count to six. The operator said this will make it the largest operator of neighbourhood spaces in the capital, after opening its Cricklewood offices this month and Wimbledon workspace in May.
The business operates 100,000 sq ft of flexible office space across the UK, with another 100,000 sq ft in the pipeline. This will bring its total number of locations to 10, doubling its portfolio.
Spacemade said it is “well on track” to hit its target of opening 50 new flexible workspaces across the UK in the next three years.
Dan Silverman, co-founder at Spacemade, said: “Spacemade’s rapid growth trajectory clearly shows the traditional co-working model is being disrupted.
“We are receiving daily calls from landlords wanting to move away from leasing out their space to operators. Instead, they are seeking a partner who can work with them to create and operate a bespoke workspace that reflects the new, post-Covid world of work – whether that’s a creative campus in Hackney, a neighbourhood co-working space in Archway or a premium city centre office in Birmingham.
“As the largest operator working directly with building owners, our network across both city centres and suburban locations positions our landlord partners incredibly well to capitalise on the increasing demand for flexible ways of working.
“We are expanding our capabilities – with complex and innovative mixed-use schemes such as our partnership with SHG – and are very much at the heart of the shift towards operational real estate.”
The news comes after the operator partnered with CBRE Investment Management to deliver 27,000 sq ft of workspace at 10 Brindleyplace in Birmingham.
Other locations include The Loft, in Queen’s Park; Neighbourhood Works, a community-focused work hub in London Fields; and Park House, a luxury repositioning of a prime building in Leeds.
Daniel Watney acted for Southern Housing on the Hackney Wick deal, while HEWN advised Spacemade on the Archway agreement.
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Image: Spacemade
