Orega has expanded its flexible workspace at 20 Old Bailey in east London, securing the remaining third of the building’s fifth floor and taking its total space in the building to 25,409 sq ft.
Orega has expanded its flexible workspace at 20 Old Bailey, London EC4
The deal adds a further 9,700 sq ft to Orega’s existing space, increasing its capacity by around a third to 465 desks.
The flexible workspace provider plans to refurbish the space before opening it for new clients in April.
The expansion follows an agreement between Orega, landlord Barings and occupier OPEN Health, which previously occupied the remaining third of the fifth floor.
OPEN Health worked with Orega to reconfigure its footprint in the building and will move into newly refurbished space within Orega’s expanded flex offering.
Orega has maintained occupancy levels above 95% in its flex space at the building for several years.
Located in the heart of the City, 20 Old Bailey is close to transport links at St Paul’s and Bank Underground stations, while the City Thameslink and Farringdon rail stations are within walking distance.
The property features a central atrium alongside a reception space and modern office accommodation.
Orega real estate director Ben Hutchen said: “This deal is a win-win solution for all parties. The agreement demonstrates how flexible workspace can support changing business needs while maintaining continuity; Barings has avoided the letting void it would have faced if OPEN Health had left the building and Orega has been able to expand its flexible offering in a popular location.”
Orega chief executive Alan Pepper added: “I am delighted we have all been able to work together to find a solution that satisfies each of us.”
The company now offers flex office spaces at 25 locations across the country, eight of which are in London.
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