Thursday 07 March 2019 8:15 am | Updated: Monday 03 June 2019 1:06 am

Runway East plugs £1m into 1,000-person startup hub in London Bridge

London startup workspace provider Runway East has announced plans to double the size of its existing South London hub to accommodate 1,000 workers.

The firm told City A.M. it will spend £1m on the expansion, in response to high demand from companies in the area looking to grow.

The London Bridge site was only launched four months ago, but Runway founder Natasha Guerra said the firm has been overwhelmed with requests for space.

Located on St Thomas Street, the building will include access to a roof terrace, options from flexible hot-desking to customisable private offices, and a 'startup toolkit' of support provided by Runway East.

"Startups are increasingly looking south of the river to find workspace solutions for their teams that provide them with the services, connections and opportunities they need to grow, as well as commuting convenience, and that’s what attracted us to London Bridge," said Guerra.

"We opened the first phase of Runway East London Bridge with 80 per cent occupancy on day one, both significantly exceeding our expectations, and demonstrating how attractive the area is for startups seeking tailored community-led workspace.

"The second phase will double our capacity in London Bridge and, we believe, make us the largest startup-focused space in south London."

Searches for office space in south London have risen 25 per cent in the last year, with the average desk price in hipster east London being £65 more expensive than in the south, according to data from office search platform HubbleHQ.