Flexible working operator Impact Working has taken more than 16,000 sq ft of space at Reading’s R+ building.
Impact Working, part of Impact Capital Group, has signed a deal with Oval Asset Management to open at the 104,000 sq ft building in Blagrave Street in November.
Its space includes 293 desks, four meeting rooms, six private telephone booths, a wellness studio, and more than 3,000 sq ft of communal space.
The deal is only Impact Working’s second venue. The firm launched in Bristol in November 2020 when Capital Group bought the Spectrum building for £20 million.
Despite launching during the height of the pandemic, its Bristol operation reached 78 per cent occupancy within 12 months.
Robert Whitton, co-founder and group chief executive of Impact Capital Group, said: “Reading is the perfect location for Impact Working’s second flexible office. The Thames Valley is the UK’s true ‘turbo-region’ with an array of significant resilient sectors, from life sciences to tech.
“We hope to attract some small and growing companies that share Impact’s values-based culture and address some of society’s most important challenges.
“Our partnership with Oval is testament to our journey in contributing to positive change in the working world and beyond.
“Our business model has been designed to respond to the demands of the flex space market where sustainability, inclusivity and positive employee experiences are at the heart of the design.”
Mark Gregson, co-founder and chief executive of Impact Working, said: “Our growth strategy is focused on creative, green and tech-friendly cities, with a real sense of community.
“Reading delivers this in abundance. Our first deal with esteemed landlords like Oval Asset Management will be critical for us to meet our key objectives in the coming years.”
Rob Thain, asset manager at Oval Asset Management, said: “We are very pleased to welcome Impact Working to R+ with so many synergies connecting our two businesses.
“Adding flexible working facilities to the building’s roster further strengthens our offering and enriches the local amenity.”
Metric Real Estate advised Impact Working, and Brayfox Smith and Hatch advised Oval Asset Management to agree the lease deal.
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