Flexible office provider Orega is to open a new serviced office business centre at Ten Victoria Street in Bristol – its first in the South West – as it continues to roll out its distinctive, quality brand across the UK.
Completion of the deal in Bristol follows hard on the heels of Orega’s recent announcement that it is to open its first central London business centre in the autumn.
Orega has entered into a 10-year management agreement with Bristol-based developer Deeley Freed Estates for 27,000 sq ft at Ten Victoria Street in the city centre. The flexible office provider will, from November this year, operate a business centre from the ground, first and second floors of the five-storey building, for which it will pay an equivalent rent of £27 per sq ft per annum.
The building was redeveloped and extended in 2008/09 following the relocation of law firm Beachcroft LLP to Deeley Freed offices in Portwall Place, Bristol. The prominent building with its highly visible glass and brick frontage provides grade A office accommodation incorporating air-conditioning, LG3 lighting, suspended ceiling, full access raised floors and shower facilities.
Andrew Maltby of Deeley Freed Estates commented: “Orega’s distinctive brand perfectly complements the high-quality framework of our building, while its range of services and meeting rooms will provide enhanced facilities for the remaining conventional office accommodation available on the top two floors.”
Paul Finch, joint managing director of Orega, says: “Bristol has a stable regional office market which provides us with the same rationale for a new business centre as Birmingham and Manchester, where we opened last year.”
Paul – who is a Bristolian, having been born in Keynsham – adds: “Bristol has a lot of merits from a business perspective. As well as providing a sound regional base for financial and professional services, its relative autonomy creates a tighter market with greater levels of occupancy and fewer voids; one that is less prone to the vagaries of the property boom and bust cycle.”
The new development, in the heart of Bristol’s commercial business district, has good access to the M32 and is only a short walk from Temple Meads railway station to the south and Cabot Circus shopping centre to the north.
When the business centre opens in November, companies will be offered suites from 150 sq ft up to 4,000 sq ft on flexible terms and for immediate occupation. Orega clients will benefit from state-of the-art telephony and IT with features such as voice recording, auto attendant and call centre wallboard options, as well as the usual cleaning and reception services, while a full menu of other services will be available as required. The business centre will also have a range of conference and meeting rooms, and on-site parking.
Bristol is Orega’s ninth UK location. It has business centres operating in Manchester, Birmingham, Gatwick Airport, Chertsey, Staines, Slough and Wandsworth (in south London), and will open in Holborn, central London, in October.
Orega represented themselves in securing the deal; DTZ, Colliers International and King Sturge represented Deeley Freed Estates.
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