Workspace specialist signs 10-year deal at city centre site
Orega, the London-based flexible workspace provider, has increased its offer in Manchester to four locations after completing a 10-year deal at 1 Balloon Street.
The management agreement deal will create a high spec flexible workspace which will open this month.
The 26,000 sq ft flexible workspace has been newly refurbished and will provide more than 450 workstations.
The workspaces are designed to appeal to teams of all sizes, from five people to more than 100, and are over three floors of the building, on ground, first and second. In addition, there will be substantial collaboration, meeting and event spaces.
Balloon Street is in the centre of Manchester, just minutes from Manchester Victoria station and the Arndale centre, the biggest shopping centre in the city.
The workspace is designed to be a modern, flexible base for Manchester’s booming tech, finance and creative businesses, offering new design-led space that focuses on hospitality, a wide choice of different working zones, outdoor space, large meeting room suite, more space person than the industry norm, on-site shower and changing facilities, unlimited barista-quality coffee, and secure bike storage facilities.
Orega offers flex space from 18 locations across the UK and says it is the UK’s leading provider of flexible workspace under management agreements as opposed to leases.
Ben Hutchen, real estate director at Orega, said: “We have enhanced our exceptionally strong Manchester portfolio with Balloon Street, where our landlord partner has intelligently invested to provide a first class example of how the future of work will look.
“At Orega, we offer our landlord partners and occupiers a solution that monetises their space with a high-end office product and building amenity, while allowing them to retain control of their asset and brand. This is what our truly bespoke ground breaking new partnership model is all about.”
Jonathan Cook, director at CBRE, who advised the landlord, said: “Orega will make a fantastic addition to the building, satisfying the continuing demand from corporates seeking high quality flex space.”
Orega’s three other Manchester locations are at Arkwright House, King Street and Piccadilly.
CBRE acted jointly with OBI to secure the deal.