A new 45,000 sq ft site flexible work space will open in the heart of the West End in a signal that London’s hybrid work trend is showing no signs of cooling.
Runway East, (RWE) already has five spaces across London, including sites in Borough Market and Shoreditch – and will open a new one thanks in part to the capital most popular and new route.
Its latest site will be opened in Holborn at 24-28 Bloomsbury Way, signing a joint venture partnership agreement with the current leaseholder communications giant WPP and landlord Abrdn.
It is understood that WPP is leasing the space due to less workers commuting into the office on a full time basis.
Prices for a private office in one of its London offices can start from £540 per month, with added VAT.
The venue will offer space for teams of 4-100, as well as a 120-person event space, a break out space and over 40 meeting rooms, phone booths and a boardroom for up to 20 people.
“The opening of the Elizabeth Line has only made it more accessible – with over 45 per cent of working aged Londoners able to commute there within 45 minutes – making it one of the easiest places to commute to.” shares Natasha Guerra, chief executive of Runway East.
“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 like ours to create in-demand offices for smaller businesses.”
Hybrid working was made popular by the pandemic when it was encouraged by governments to stay inside and limit interaction with people.
However, despite businesses fully reopening the trend has remained with staff still largely splitting their time between the office and home – with many reporting that the balance has improved their wellbeing.
The trend of flexible office spaces, that employers can rent out, was made popular by trendy office space provider WeWork, which brought draft beers and onsite baristas to London office culture.