HIGH-QUALITY design-led workspace is to open in Central Milton Keynes this summer when refurbishment of Elder House next to Milton Keynes Central railway station is complete.
Flexible workspace operator Co-Space has signed a profit share lease for its third UK site at Elder House in Milton Keynes. The company has taken 19,000 sq ft of the 70,000 sq ft property on a 15-year lease and aims to open private office and co-working space as well as a new cafe and business lounge.
The plans are part of the landlord’s work, already under way, to transform the building pictured below.
Co-Space already has premises in Stevenage and Reading which are running at near full capacity, said founder and chief executive William Stokes. “We are excited to be growing into a new space and location. Milton Keynes’ economy is growing, particularly in the IT, tech and consultancy sector, and we are geared to support these businesses via a strong hospitality offer and connectivity.
“We look forward to partnering with the landlord to create high-quality, design-led workspace that will enable Elder House to attract occupiers looking for short or long term deals, no matter their size.”
Milton Keynes is regarded as one of the hot spots of office activity in the South East. Co-Space has moved to open in Elder House after its centres in Stevenage and Reading became more than 90pc full.
“Located next to the mainline station, it is a superb home for enterprise,” said Will Kinnear, founder of commercial property agency HEWN which specialises in advising on flexible workspace and acts on behalf of Co-Space “Milton Keynes is booming, it has one of the highest rates of new businesses in the UK, with a colossal 42.7 per cent survival rate.”
Work has already began at the site and it is expected to be open and operational by the summer.
Premises elsewhere in Elder House are available via the agents Avison Young and Louch Shacklock.