INDUSTRY NEWS

Orega agrees lease for flexible office space

Serviced office company Orega has just agreed a ten-year lease for 20,000 square feet of space in Holborn. Orega, specialists in flexible office environments, has taken on the five-story centre at 16 High Holborn, which includes cleaning, catering, reception and telecommunications facilities. It will open in the last three months of this year.

Orega is hoping to achieve a return of £37 per square foot, and is paying £28.50 per square foot for the office space. London is just one of the cities in which the company operates, having opened centres in Birmingham and Manchester last year and having a total of seven developments in their portfolio.

A spokesman for Orega commented on the deal, ‘16 High Holborn fits the bill and is in an area of high prospective demand from legal and financial occupiers to whom the flexibility of our offer is likely to appeal.’