Grovesnor to build 300,000 sq ft workspace portfolio

Grosvenor Property UK is building a 300,000 sq ft flexible and fitted workspace portfolio by transforming around 20% of its existing office properties across London and other major cities.

Meeting a rise in occupier demand for premium flexible and fitted offices backed by a distinctive service, Grosvenor has opened 18 new locations in the past year, taking its total portfolio to around 135,000 sq ft across 20 sites, with each leasing ahead of expectations.

In London, Grosvenor’s aim is to create exceptional flexible office spaces which are easy to occupy and ideal for modern hybrid working.

The market for flex alone has grown to 15% of the UK’s office market and demand continues to expand as businesses increasingly move towards shorter leases and service-led space.

Across the rest of 2024, Grosvenor expects to add eight further flexible locations in London and two fitted spaces in Manchester, increasing the portfolio by approximately 46,000 sq ft. 

James Raynor, CEO at Grosvenor Property UK said: “The flight to quality is as true for flex as it is for traditional office space.

“We see a significant opportunity in bringing together the right teams, products and services to deliver a premium offer that provides occupiers with the choice and flexibility that they are looking for.

“Our experience at 25EP, and significant demand for our new locations, shows that we can successfully create an atmosphere and collaborative opportunity for businesses that can’t be replicated in a home working or conventional office setting.

“Flex and our ongoing investment in new products and services that meet changing occupier needs is a core part of our growth strategy.

“We’re moving quickly and, by the end of this year, we expect to have delivered over half of the space dedicated to this plan.”

Leave a comment