Flexible workspace operator Runway East has signed a joint venture partnership agreement with the current leaseholder and the landlord, abrdn, to deliver more than 45,000 sq ft of flexible office space at 24-28 Bloomsbury Way, WC1.
The building has been refurbished and fitted out by the landlord and is due to complete this summer. It will be open to Runway East members in winter 2023.
Once complete, Runway East Bloomsbury will have space for more than 800 members, including start-ups, SMEs and satellite corporate offices. The building will provide space for teams of four to 100 people, a 120-person event space, a garden, around 40 meeting rooms, phone booths and a boardroom for up to 20 people.
Natasha Guerra, chief executive of Runway East, said: “There has been a fundamental shift in how we use space, and our deal is responsive to that change as businesses consolidate the space they need and collaborate with businesses such as ours to create in-demand offices for smaller businesses.”
The deal was brokered by flex/jv specialist Douglas Green of g8 Consult, who said: “This deal demonstrates both the strong demand for great buildings and the possibilities of the repositioning of older office stock into the flex marketplace.”
Runway East, which is a B Corp certified flexible workspace provider, was founded in 2014. The company, which is led by Natasha Guerra, was initially a hub for tech entrepreneurs and has grown to nine spaces across London, Bristol and Brighton. Businesses using its space include Deliveroo, Matches Fashion and Louis Theroux’s Mindhouse Productions.
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