Legal advice for the co-working space sector
Today’s businesses require flexible and dynamic office environments to create a professional, collaborative and supportive space, to attract and retain future talent, create competitive advantages and cut costs.
From business start-ups and growing SMEs to international corporations, there is now an established and growing demand for flexible offices which allow businesses to expand and contract their property requirements to suit business needs. These spaces include 24/7 access to meeting rooms, stylish business lounges, free Wi-Fi and managed receptions.
Options include long- and short-term flexible office contracts, hot-desking, coworking space and virtual offices to ensure providers can attract and retain businesses as their space needs change.
Lawyers ahead of the curve
What are the benefits for businesses of different sizes and who is leading the way? Read the Workspace Revolution feature in our Ahead of the Curve magazine:
We have long been advocates for co-working spaces
With expertise across a wide range of property matters, and the experience of acting for owners, operators and tenants, at Royds Withy King we saw the workspace revolution coming. We’ve been acting for flexible workspace providers since long before the concept gained the momentum it has today. Now, we see the market being shaped by the development in technology and tenants’ changing requirements and expectations.
We are familiar with the challenges that operating a co-working space entails, such as:
- advising on and negotiating heads of terms to ensure all commercial points are agreed up front
- advising on terms and conditions, membership agreements, virtual office terms and licences for the use of your workspace
- drafting and negotiating management agreements and joint venture arrangements
- advising on and negotiating revenue-linked leases
- advising on professional team appointments and fitting out contracts
- resolving property or construction disputes
- securing possession of office space and recovering debts
- all other aspects of operating a flexible workspace, including corporate advice, employment contracts, GDPR compliance and IP rights.
Royds Withy King is a Business Partner of the FlexSA (Flexible Space Association), the voice of the flexible workspace sector since 1989.
Space to grow: Orega (Management) Ltd
Orega are providers of serviced offices, virtual offices, coworking space and fully equipped meeting and conference rooms throughout the UK. Founded in 2001, the company has gone from strength to strength, growing it’s portfolio across the UK by close to 250,000 sq ft in the last 3 years.
Orega provide high class flexible space and find innovative ways to work with property funds and institutional landlords such as Aberdeen Standard Investments, Aviva Investors and British Airways Pension Trustees Limited and operate serviced office space within their buildings across the UK from London to Aberdeen.
We have acted from Orega since the company’s creation, advising on all aspects of their operation including terms and conditions, GDPR compliance, IP rights, debt recovery, employment contracts and corporate advice. We work closely with the Orega team on new site acquisitions from negotiating heads of terms to drafting the required management agreements or revenue-linked leases to advising on the procurement of the fitting out works.
One such recent acquisition is at 4 Longwalk Road on Stockley Park, near Heathrow where Orega agreed a new ten-year lease for 24,210 sq ft on the first floor of the grade A office scheme owned by Aberdeen Standard Investments.
“The serviced office market continues to be a rapidly changing but exciting environment to work in. We have worked with Royds Withy King since the company’s creation in 2001 when we acquired our first office centre. The depth of their understanding of our business and breadth of expertise the firm can offer has enabled us to maintain our position in the market.”
– Zach Douglas, Managing Director at Orega