UK serviced office company, Orega, is set to open a new business centre at 9 George Square – a Grade A building in Glasgow, Scotland.
The new space adds almost 22,000 sq ft to Orega’s flexible workspace portfolio, which now spans 17 locations.
The new location has been secured on a 10-year management agreement and marks Orega’s first offering in Scotland’s central belt.
UK serviced office provider Orega has added 21,929 sq ft of serviced office space to its portfolio. The move will see Orega launch their second business centre in Scotland following the successful launch in Aberdeen’s Silver Fin Building last year.
With a prime location in Glasgow’s Central Business District, 9 George Square is sure to attract businesses of all sizes that will benefit from the extensive transport links. A classic period façade covers the building and by summer, 9 George Square will feature Orega’s modern office interiors.
The deal acknowledges the growth that both Orega and Glasgow’s serviced office market are experiencing.
Leigh Perl, director at landlord EPIC UK, commented: “The letting of three entire floors in a single deal represents a significant transaction and is testament to the desirability of 9 George Square, which now has 50% of its floors fully let.
“Demand for serviced office space continues to grow in Scotland, with companies requiring greater flexibility as freelance and contract working rises. As well as removing contractual and financial barriers for smaller companies, it is seen as key to attracting the new generation of talent, which places value on the creativity associated with coworking environments.
“Providing high-quality accommodation in a prime location, Orega’s new offering is sure to attract a diverse host of innovative firms to 9 George Square, and we look forward to seeing the contribution they will make to Glasgow’s business community.”
Robin Pugh, Real Estate Director at Orega, said: “We are extremely excited to be partnering with EPIC to deliver a best in class business centre at 9 George Square. Demand for shared workspace in Glasgow is increasing with greater flexibility being a key driver of our occupiers’ decision.
“We will provide high quality corporate grade workspace in a prime building in central Glasgow which will fill the current gap in the market.”
Flexible workspace specialist GKRE advised EPIC on the management agreement with Orega.
Commenting on GKRE’s involvement, Leigh Perl added: “GKRE are our go-to agency for all things related to serviced offices. Their expert advice and thoughtful approach was invaluable in dealing with the complexities of the management agreement.”
Douglas Green, a director of GKRE, said: “It was a privilege to work with Leigh and the EPIC team on this transaction. We were pleased to be able to add real experience to the high calibre team of agents on this project.”
Opening their very first Business Centre in 2001, Orega now operates in 17 locations in the UK and Europe, offering fully-serviced office solutions.
CBRE and Ryden represented the landlord EPIC UK, while Orega was represented by JLL.