London, 2017-Jun-21 — /EPR Retail News/ — British Land has launched Storey, a new brand providing flexible workspace for ambitious and growing businesses as well as larger organisations seeking additional space on flexible terms.
Created to fill a clear gap in the London office market which customers say is not being satisfied, Storey provides offices for companies employing between 20 and 70 people who have outgrown co-working space and whose needs have evolved. Storey also suits existing or larger office customers seeking project or shorter term space on top of their core requirements.
Storey will operate within British Land’s existing London assets, predominantly at its Broadgate, Paddington Central and Regent’s Place campuses. These have a critical mass of office customers and offer the ideal environment for ambitious organisations looking to grow. Storey customers will be able to access facilities traditionally reserved for larger organisations and automatically benefit from the broader campus environment where a focus on wellbeing also supports growth and productivity.
Storey will add to the evolving mix of these campuses, where additional retail and leisure uses have been introduced to adapt to modern workplace trends. All three campuses are on key London transport hubs, with Crossrail due to arrive at Paddington Central and Broadgate soon.
Storey’s simple and flexible workspace can be branded with an individual company’s identity. Supported by British Land’s property management arm, Broadgate Estates, it will ensure a seamless and reliable service. Space can be fully tailored to customers’ needs, with leases adaptable to their individual circumstances.
Chris Grigg, Chief Executive, British Land, said: “British Land concentrates on three core principles: understanding our customers so we can respond to their needs; creating great environments both within our buildings and their broader environments; and using our scale, expertise and long-term outlook to deliver value across our portfolio.
“Not only does the combination of these differentiate us, it also led us to develop Storey for a different customer base. By understanding the needs of ambitious SMEs and project teams, providing the right space for them and removing the hassle of running an office, it allows them to focus on their own businesses.
”We have the benefit of owning the buildings in which Storey will operate giving us much greater control of the service and experience customers receive, such as the quality of the technology and continuity of the Wi-Fi, one of the top frustrations identified in our research.”
Leases will be simple, jargon-free and all-inclusive, covering rent, business rates and service charges, secure, fully backed-up WiFi, reception service, cleaning and maintenance and office furniture. Storey will offer shared facilities including showers, bike racks, shared kitchen areas and meeting and collaboration space.
80,000 square feet of flexible workspace is already being fitted out. An additional 80,000 square feet of space has been earmarked for a further wave of Storey openings over the rest of the year.
The initial Storey locations will be at 18-20 Appold Studios and 2 Finsbury Avenue, both at Broadgate; and at International House, Ealing Broadway.
Notes to Editors
About British Land
Our portfolio of high quality UK commercial property is focused on Retail around the UK and London Offices. We own or manage a portfolio valued at £19.1 billion (British Land share: £13.9 billion) as at 31 March 2017 making us one of Europe’s largest listed real estate investment companies.
Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles – Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance.
Our Retail portfolio is focused on Regional and Local multi-let centres, and accounts for 48% of our portfolio. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 49% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 46 acre redevelopment opportunity where we have plans to create a new neighbourhood for London.
Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. Our industry-leading sustainability performance led to British Land being named a European Sector Leader in the 2016 Global Real Estate Sustainability Benchmark for the third year running.
In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over a period of five years.
Further details can be found on the British Land website at www.britishland.com.
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Source: British Land