Demand for flexible workspace in Central London accelerating, says LABS

Flexible workspace provider, LABS has signed four new occupiers for Victoria House and LABS House in Holborn, and Hawley Wharf, Camden. 

The deals total a record 45,000 sq ft of occupied workspace and marks the first two tenancies for Victoria House, the landmark building acquired by LABS just six months ago.

Joining the 420 businesses and 5,700 members currently operating from LABS workspaces across the capital, include growing media company Moonbug Entertainment, alongside a global asset management firm, an information and consulting technology company and a recruitment business. Each of the tenants will benefit from high quality, modern office space, designed with ample natural light and greenery to support health and wellbeing throughout the day. 

Matt Watts, CCO of LABS, says: “We are thrilled to have undertaken these four signings at a time when all eyes are on the new normal and the future of the office. These deals support that the demand for physical office space is still strong and that companies need to stay connected to facilitate growth and preserve their company culture.”

Dotan Weiner, COO of LABS Collective, says: "As owners and operators of our buildings, we are committed to creating flexible and engaging environments, enabling people to innovate, connect and thrive. We are invested in the London market for the long term and have put extensive measures in place to future-proof our spaces and ensure our tenants, members, and new businesses are provided with long-term workplace solutions.”

During Covid-19, LABS implemented enhanced safety measures across its spaces including increased sanitation, greater social distancing, reduction in physical touch points, and new plans for increased bike storage and shower amenities, to ensure a safe commute and return to work.

John Robson, COO of Moonbug Entertainment, says: “We have seen phenomenal growth as a company since we launched two years ago and have outgrown our current space sooner than we expected. We are thrilled to have found a great office space within the LABS development that offers us the flexibility we need as we enter the next stage of our journey, in an excellent location."

All four companies will move into LABS in the next three months.