Flexible workspace provider Runway East has agreed a 15-year renewal deal on its building in Bristol. The company signed the agreement with landlord Grosvenor for 47,000 sq ft at 1 Victoria Street.
Under the terms of the agreement, the businesses said they would work together to undertake “environmental and amenity upgrades” at the Bristol Bridge site.
The environmental improvements are part of a wider £35m programme of capital investments Grosvenor is undertaking across its regional office portfolio, it said.
The Bristol Bridge space has already been renovated and offers co-working and private offices for teams sized between one and 75 people. There are also break-out areas, meeting rooms and a private roof terrace and a riverside café and bar.
Natasha Guerra, founder and chief executive of Runway East, said: Our mission compliments Grosvenor’s vision on reducing emissions. As one of the first B-Corp flexible operators, we’re committed to creating the best place to work and being a responsible business committed to meeting net zero.
“Bristol Bridge is one of our longest-standing sites, which is hugely popular with members. We’re thrilled to be offering them longevity, supporting business as usual and maximising team bliss.”
The announcement comes just weeks after Runway East signed a 20-year deal with global investment firm Abrdn to open a new site in Bath. Kings Court, a Grade II listed building on Parsonage Lane in the city centre, is the flexible workspace company’s third site in the South West.
Fergus Evans, office portfolio director at Grosvenor, said: “There is a shortage of the best quality commercial space across the UK core cities. By extensively refurbishing our existing portfolio to create the best retrofit assets in the cities we operate in, we’re addressing this demand whilst simultaneously minimising our operational and embodied carbon impact.
“As one of the best flex office providers in the market, confirming Runway East’s recommitment to Bristol Bridge, marks a fantastic start to the year. As we do across the portfolio, we have been working proactively with Runway East to improve the environmental performance and amenity provision of the building.”
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