abrdn the owners of The Urban Building on Albert Street in Slough have signed a Management Lease Agreement with Socius – a flex workspace operator who work in partnership with property owners.
The 14,000 sq ft space which covers the part ground and first floors has been signed for five years. As part of the acquisition, Socius plan to redesign and upgrade the existing space to provide in-demand workspace in Slough. HEWN were brought in by abrdn to provide strategic support and negotiate the agreement.
Will Kinnear, Director at HEWN comments: “The flexible workspace market is booming, aided by the pandemic and flexible working practices, but the challenge for landlords and property owners is marrying the right asset and operator. This is an exciting deal which will bring forward quality workspace in Slough, appealing to a range of users.”
“We’re excited to be working with Socius at The Urban Building in Slough” says Cameron MacKay, Senior Asset Manager at abrdn, “we are committed to working with operators on flexible workspaces to diversify our portfolio and provide these valued spaces within the communities we operate in.”
Having operated in the flexible office sector for 20 years, Steve Finnegan, Managing Director at Socius adds: “We’re looking forward to getting stuck in and working with abrdn on this prominent asset in Slough. Socius are launching new flex space to attract a diverse client base and elevate the overall offering within the building. The flex space market is an incredibly exciting place right now, especially where building owners and asset owners are entering this space, Socius is that partner who are building such relationships.”
Work has already begun at The Urban Building, with the doors opening to clients in April 2022
