Runway East, (RWE) the fast-expanding flexible workspace operator, has signed a joint venture partnership agreement with the current leaseholder and their landlord Abrdn to deliver over 45,000 sq ft of flexible office space at their surplus offices in 24-28 Bloomsbury Way, London. Following a major refurbishment and fit out this summer, it will be open to Runway East members in Winter 2023.
Once complete, Runway East Bloomsbury will be home to a community of over 800 members, from startups to SMEs and satellite corporate offices. The building will offer space for teams of 4-100, as well as a 120-person event space, a secret garden, break out space and over 40 meeting rooms, phone booths and a boardroom for up to 20 people.
“Bloomsbury, part of Midtown, has a strong established office market, it is home to global household brands in the legal, creative and design sector. The opening of the Elizabeth Line has only made it more accessible – with over 45% of working aged Londoners able to commute there within 45 minutes – making it one of the easiest places to commute to.” shares Natasha Guerra, CEO 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. ”
The deal was brokered by flex/JV specialist Douglas Green of g8 Consult, who commented: “I am delighted to have completed another significant transaction for RWE in Central London. This deal demonstrates both the strong demand for great buildings and the possibilities of the repositioning of older office stock into the flex marketplace.”
Mark Kleinman of James Andrew International, who acted for the leaseholder, said: “We were approached by a number of flex operators for this building and our choice of partner ultimately was determined by Runway East’s commitment to the project, business plan and reputation”
Bloomsbury is home to the largest museum in the UK, the British Museum, as well as a number of educational institutions including UCL, University of Law and SOAS. It is also the literary heart of the UK, and home to the world-renowned Bloomsbury Publishing.
Just 6 minutes’ walk from Tottenham Court Road tube and 4 minutes from Holborn tube, the building is only moments from the enviable restaurant and nightlife of the West End and Soho. It is also in close proximity to Kings Cross station, and sits within the tube network of the Central, Northern, Piccadilly and Elizabeth lines.
Runway East is a B-Corp certified flexible workspace provider, which has been operational since 2014. Led by Natasha Guerra, it was initially a hub for tech entrepreneurs, creating space and facilitating growth and team support. It has now grown to 9 spaces across London, Bristol and Brighton. Businesses using their space include Deliveroo, Matches Fashion, Louis Theroux among other household names.
