Listed UK real estate company Landsec plans to triple the size of its Myo flexible workspace brand across London this year.
Landsec said it intends to open three new flexible office locations, a move that will increase the size of the flexible office brand to over 210,000sqft before the end of the year, as part of a plan to grow the Myo brand in line with demand.
Before the year ends, the £11bn (€12.4bn) property group plans to open a 45,000sqft site at New Street Square, a 46,000sqft office at One New Change and The Forge site which will comprise 48,000sqft of space. A fourth site at Lucent, which will add 23,000sqft to the Myo portfolio is also being considered.
Marcus Geddes, managing director in charge of workplace at Landsec, said the Myo brand was “created as a direct answer” to the changing needs of office occupiers.
Geddes said: “The demand we’ve seen since launching on Victoria Street speaks to the value our customers find in the product, whether they’re small businesses at the start of their journey or established businesses looking for additional space or on-demand meeting and events spaces as they grow.
“With today’s commitment to triple our flexible footprint we make significant progress against our growth strategy, almost reaching our initial growth target in just two years, and we have plans to keep expanding.”
The new flexible offices will add to Myo’s existing 123 Victoria Street and Dashwood House sites, which are over 92% let, the company said.
In addition to the Myo brand, The London-listed real estate investment trust also offers the Blank Canvas and Customised workspace brands. In all, Landsec has a 24m sqft UK real estate portfolio comprising retail, leisure, workspace and residential hubs.
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