Spacemade signs new close-to-home workspace following 92% occupancy rates across portfolio

Spacemade has signed a long-term management agreement to operate a new 15,000 sq ft flexible workspace in the heart of Putney – bringing its total of neighbourhood locations to 10 and cementing its reputation as the largest operator of close-to-home workspaces in London. The new site, set to open in 2023, is located at Dunward Properties’ Tileman House, 133 Upper Richmond Road, SW15.

Spacemade has seen an average occupancy rate of 92% across its portfolio, generating 28% above Estimated Rental Value (ERV). This upwards trajectory demonstrates a continuous occupier demand for working close-to-home.

The new location, which will open its doors in early 2023, will be the largest flexible workspace in Putney, with capacity for 300 members, and complement Spacemade’s portfolio of city centre spaces.

Spacemade, the first-of-its-kind operational partner for landlords looking to provide a bespoke flexible workspace directly to their customers, will deliver and operate the space on behalf of a private landlord.

The group sees strong opportunities in the Putney market – with its affluent population, convenient transport links to central London and excellent local amenities.

The new space is located less than 150 meters from Putney station and 300 meters from East Putney Underground station.

It will offer design and amenities typically only on offer in central London alongside meeting rooms and private offices for two to twenty people. High-quality amenities include Zoom rooms, phone booths, and unlimited artisan coffee. The space will also boast 3 outdoor terraces and a podcast studio to service the increasing local demand for recording facilities.

Jonny Rosenblatt, co-founder at Spacemade said:

“Our new location will bring the very best of central London designed and operated flexible workspace to Putney. Flexible working is here to stay and Spacemade is committed to giving occupiers access to both city centre and local workspaces while connecting them with the fast-expanding network of Spacemade hubs across the UK. Putney is a market we’ve been looking at for some time and this building represents an incredible opportunity to deliver the ultimate flexible workspace complete with all the facilities that small businesses and hybrid workers need to succeed.”

The group is the fastest growing platform of individually designed and branded spaces in the UK. So far in London this year, Spacemade has completed deals for spaces in Hackney Wick and Archway and launched Common Ground in Wimbledon and Backyard Co in Cricklewood.

Outside of London, Spacemade partnered with CBRE IM in Birmingham to deliver 27,000 sq ft of flexible workspace at 10 Brindleyplace – the largest office development completing in the city this year, adding to its growing portfolio of city centre spaces.