- Flexible workspace consultant, GKRE has advised on the successful letting of a London property to The Boutique Workplace Company.
- A new flexible workspace format for the 19,000 sq ft property will provide 310 workstations for Ealing’s growing business community.
- To date, GKRE has advised on the acquisition and sale of over 1million sq ft of office space on behalf of clients solely in the flexible workspace sector.
Flexible workspace specialist GKRE has advised the owner of Saunders House in Ealing, West London, on the successful letting to The Boutique Workplace Company. The 19,000 sq ft property will provide 310 workstations for Ealing’s growing business community when it opens later this year.
Given the flexible workspace market’s rapid growth and the sheer number of operators, with over 1,400 in London alone, the building owner understood the importance of the growing sector and specifically approached GKRE as the flexible workspace specialists to find the right operator for the premises. Using GKRE’s extensive operator relationships and detailed market knowledge, The Boutique Workplace Company were selected and a 10 year lease on the whole of the premises was agreed.
Saunders House is a 1960s office building located at 52-53 The Mall. The building is well located, in close proximity to Ealing Broadway tube station, which will benefit from the Elizabeth Line due for completion in late 2020.
This deal marks a further phase in The Boutique Workplace Company’s growth and reflects the increasing popularity of the firm’s offer. The Company is a leading provider of design-led workspace set within smaller, self-contained properties, and its portfolio of 34 centres includes some of the market’s most stylish and well-designed flexible offices.
Planned new workplace features in Saunders House will include a member’s lounge, breakout spaces, a private car park and a roof terrace. The building will be fully operational and ready for occupation in the Autumn of this year.
The flexible workspace market has delivered very strong growth in recent years. In 2017/18, more than 21% of all commercial office leases in London (2.5m sq.ft.) went to flexible workspace operators. There are now around 5,400 flexible workspaces across the UK.
Will Kinnear, Director at GKRE, commented: “As the UK’s specialist flexible workspace agency we were delighted to advise the owners of Saunders House on the letting of the entire property to The Boutique Workplace Company. GKRE were appointed specifically to introduce and negotiate terms with a flexible workspace operator and The Boutique Workplace Company were a perfect fit for the premises.”
Daniel Wheble, CEO of The Boutique Workplace Company commented: “With demand for our product continuing to soar, this acquisition opens up a new and interesting market for us. Our workplace in Wimbledon has similar demographics, so we believe this location will perform well and deliver a cost-effective but stylish solution to occupiers in the area.”