Flexible workspace provider Yours signs three new deals in quick succession as office demand returns
Managed workspace operator Yours has signed two new clients and renewed with another, as the demand for flexible office space in Central London grows with the easing of pandemic restrictions on office workers.
TaskRabbit, the online marketplace that matches freelance labour with local demand, has taken 1,600 sq ft on a two-year lease at 67-69 Cowcross Street, a US tech firm has also committed to a 2,775 sq ft new EMEA HQ at an undisclosed location, and Eve Sleep, the mattress and sleep wellness company have renewed their 5,850 sq ft lease at 29 Kentish Town Road.
Yours, the joint venture between Work.Life and global property adviser Knight Frank, is a leading provider of managed office solutions. Yours is an operating partner for landlords, enabling them to offer a bespoke fitted and fully managed office space, without having to build their own team to do so. Yours has spaces across Central London, covering West End, City and everywhere in between, offering suites ranging from 2,000-10,000 sq ft.
For tenants, Yours provides office space that is tailored to their requirements and then managed for them throughout their occupation. The model removes both the capital expenditure costs associated with fitting out office space, and the burden of procuring and managing in-demise services, allowing tenants to focus their capital and effort on their core business.
Interest in central London workplaces has rebounded strongly as the vaccine rollout has progressed and the Government continues to ease restrictions, with firms planning their return to offices and post-pandemic office needs. Tours booked at Yours spaces in Q2 2021 increased 60 per cent in comparison to Q1 and offers increased six-fold in the second quarter of 2021 compared to the first.
James Nicholson, Director at Yours and a Partner at Knight Frank, says: “As businesses’ demands shift in the post-Covid landscape, we’ve started to see increased demand for flexible office solutions, and this is translating to an uptick in enquiries, offers and deals on Yours spaces. The majority of the demand we have seen in the last quarter has been focused on our sub-5,000 sq ft spaces, but the larger requirements are also now starting to appear with real intent as Coronavirus restrictions come to an end. Our core target markets are businesses upgrading from flexible serviced offices, but not ready to take on the burden of managing their own space, and larger established firms looking to incorporate more flexible real estate solutions into their portfolios.”
David Kingham, Head of Tenant Sales at Yours, says: “It’s an exciting time to be working with these fantastic growth businesses. Helping our clients design, deliver and run their perfect workspace is something we are incredibly passionate about and we cannot wait to welcome them into their new homes. Although the modern workplace has changed greatly, it now feels more engaging, productive and collaborative than ever before."