Following its early success in High Holborn, flexible office provider Orega has ramped up its presence in London with the launch of a striking new business centre in Hammersmith, its third in its planned expansion in the capital and its largest to date.
Orega has signed a 10-year management agreement with Halcrow for a total of 34,000 sq ft at 3 Shortlands in the heart of Hammersmith, west London. It will occupy floors four and five in the unusual cross-shaped building where it will pay an equivalent of £32.50 per sq ft under the terms of the management agreement.
The business centre, providing a total of 400 workstations, will open on 1 March next year, complementing Orega’s growing UK portfolio of real estate operated under its management model.
Zach Douglas, joint MD of Orega, comments: “3 Shortlands is a fantastic addition to our growing network of business centres and represents a major step forward in our strategy to develop a portfolio of quality sites in London. It perfectly meets all our exacting requirements for a well-run business centre and has a number of other attributes such as an on-site gym, secure parking and excellent communication links to both central London and Heathrow airport.
"We believe that the London market still has untapped potential for high quality, flexible office space in certain locations and are continuing to pursue new signings, more of which are likely to conclude in the first quarter of 2012."
Halcrow, a planning, design and management services company owned by CH2M HILL, has a 99-year lease on the 10-storey building in Hammersmith, which includes such international tenants as Cathay Pacific, Gulf Air and Royal Bank of Scotland.
The newly refurbished, air-conditioned business centre at 3 Shortlands will have a separate Orega reception area and a range of fully fitted meeting and conference rooms. Business centre clients will also benefit from the building’s 24-hour managed access, secure car parking and concessionary rates to the Virgin Active gym and swimming pool on the ground floor.
Prominently located close to Hammersmith Road and within sight of the A4 Hammersmith Flyover, 3 Shortlands is just minutes from the underground and bus station and close to overland train services via Kensington Olympia. It is adjacent the Novotel hotel and is a short walk from the Broadway Shopping Centre.
Strutt & Parker advised Halcrow on the 3 Shortlands deal; Orega represented itself.
Elsewhere in London, Orega opened a business centre at 16 High Holborn in October 2010, which was fully occupied within six months, and has a well-established site in Wandsworth.