Serviced Office providers MWB have announced the acquisition of a new centre in the heart of the Bank area. Following on from our article of 1st August entitled “The Serviced Office Market Around Bank Tube Station” which discussed the competitive nature of the Bank and surrounding areas, plus the difficulties faced by the market with the impending recession, Easy Offices wanted to know more about MWB’s choice of location for the new Serviced Office building. I wrote to Jamie Vine, Business Development Director for MWB, and asked for a further insight into the new centre, situated on Clements Lane.
Ceri Jones: The financial industry would seem to be one of those hardest hit by the current recession, why have MWB decided to open a centre in the Bank area at this time? Was there a specific motivation behind the new centre opening?
Jamie Vine: “We are in the process of opening a new centre in Bank as we believe the demand for flexibility will remain buoyant in this uncertain economic climate. Occupiers do not want to commit to long term liabilities when they do not know where their business will be in 6,12 or 18 months time. Demand for our other city locations has remained strong and we are confident that our new Bank location will be attractive to prospective occupiers.”
CJ: What kind of clientele is MWB expecting to accommodate at the new centre in terms of business type, i.e. media, design and etc.?
JV: “We are seeing increased demand from organisations in or related to the financial services sector in addition to our regular client footprint of front office, client facing organisations.”
CJ: I can see from the pictures that it is a period building; can you tell me a little about the interior refurbishment of the property? What has been the approximate overall expenditure of the project?
JV: “St Clements House is a grade II listed building and will provide over 400 workstations across 6 floors. In excess of £3m is being invested in sympathetically updating and refurbishing the building. A grand reception area is being created which will provide an unbranded contemporary environment in which to greet clients and visitors. The centre will also offer 4 meeting and conference rooms, open plan space on 5th floor with own reception area, and a client server room which will offer secure climate controlled space for IT Hardware.”
CJ: Finally can you tell me anything at all about the new offices which you think may be of particular interest to our readers, what makes your new facility unique?
JV: “The location is next to St Clements Church, made famous by the children’s nursery rhyme. Our serviced offices are within close proximity to Bank and Monument underground stations, and there’s also a range of gyms within a five minute walk as well as a comprehensive selection of bars and restaurants. We also be using a unique theme throughout the building that reflects the history of the City of London”
MWB’s newest property promises to make for an exciting addition to the Bank Serviced Office portfolio, offering flexible leases to companies who may be looking for an alternative to longer term traditional leases. The building will be opening its doors officially on 10th October, should you be interested in discussing the centre in further detail, or arrange a viewing, please give us a call on 01932 834 720 or CLICK HERE to view the property and its facilities in further detail.