June 21, 2017
British Land has launched Storey, a new brand providing flexible workspace for businesses employing between 20 to 70 people and larger organisations seeking additional space on flexible terms. Created to fill a perceived gap in the London office market which customers say is not being satisfied, Storey provides offices for companies 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.’
British Land claims that 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 workspace can be branded with an individual company’s identity and will be supported by British Land’s property management arm, Broadgate Estates.
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 cover rent, business rates and service charges, 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 currently 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.