Management agreement sealed at Manchester’s Tootal Buildings
Flexible workspace provider, Orega, has completed a management agreement with Pictet and XLB at The Tootal Buildings in Manchester.
The high spec flexible workspace will be launched in December this year.
Orega will be providing 20,000 sq ft of flexible newly refurbished premium private workspace on a phased basis within the building, in space which is designed to meet the significant demand for sub-5,000 sq ft space within the city centre.
There will be generous shared spaces to support collaboration and privacy pods for those who need to work quietly. In addition, Orega will offer substantial meeting and event spaces.
The Tootal Buildings are in Manchester’s Knowledge Corridor in the vibrant neighbourhood of Oxford Road in central Manchester and are close to all major transport links such as the Metrolink at St Peter’s Square and Oxford Road train station.
The buildings have been awarded a Very Good certification from BREEAM for a sustainable built environment
The workspace offers:
- New reception, business lounge and café
- A wide choice of different working zones
- Award winning cycle and shower facilities
- Inner courtyard gardens and amenity space
- More space person than the industry norm
- Unlimited barista-quality coffee, ordered by iPad technology
- Secure sound proofing systems
It is the fifth flexible workspace that Orega has launched in Manchester and is hot on the heels of its completion of a 10-year management agreement to create 26,000 sq ft of high spec flexible workspace at 1 Balloon Street, which opens in September 2022.
Orega now offers flex space from 19 locations across the UK.
Ben Hutchen, real estate director at Orega, said: “With five flexible workspace centres in Manchester we believe we are successfully catering for the city’s booming businesses who are looking for a flexible way of working – a trend which we believe will become even more in demand with the current economic and political uncertainty and reluctance of businesses to be tied into long leases.
“Our ground-breaking management agreement model allows our landlord partners the opportunity to make the most of their high end quality office space whilst allowing them to retain control of their assets and brand.”
Tony Lawson, partner at XLB. said: “This recent letting is testament to the importance occupiers place on providing the right environment for their staff and business. The Tootal Buildings provide a beautiful place to work, it has an active tenant community and strong underlying ESG credentials.”
Jonathan Cook, director at CBRE, who advised the landlord, said: “Orega will make a fantastic addition to the tenant mix at the Tootal Buildings – with a solid proven track record in Manchester, they are the ideal flex operator to satisfy demand from occupiers who want to benefit from the St Peter’s Square interchange, massive talent pool in the micro-location and also Tootal’s huge transformation programme that XLB and Pictet have undertaken, providing best in class amenity.”
Ed Keany, of Edwards & Co, advised XLB and Pictet alongside joint agent CBRE.