Workspace provider Orega has completed work on a new flexible workspace area at 70, Mark Lane London.

The scheme includes 17,832 Sq Ft of workspace as well as 520 workstations on the 1st and 2nd floors of the 16-storey building. The project also includes additional, collaboration, meeting and event spaces. Other features include, on-site shower and changing facilities as well as secure bicycle storage.

70 Mark Lane is home to a total of 170,000 sq ft of office space, and is located close to Fenchurch Street Railway Station, in the traditional heart of the insurance industry within the city.

The new project marks Orega's sixth workspace to be opened in London. The company now operates flexible workspaces across 24 locations within the UK.

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Commenting on the project, Ben Hutchen, Real Estate Director at Orega, said: "As new working practices evolve in the City, with hybrid working becoming the norm, many corporate occupiers do not need the volume of space they needed previously. By offering our joint venture Management Agreement, Orega can provide an alternative solution to corporates with excess space, allowing them to retain their brand whilst giving them the flexibility to take back space should they need it down the line. We are seeing an increasing number of large occupiers considering this route."

Commenting on the impact of the scheme, Lynsey O'Keefe COO of Orega added: "We see great opportunities for flex space in the City of London, and we now have six flexible workspace centres in London as a whole. We believe we are successfully catering for the demand from businesses who are increasingly looking for a flexible way to occupy property; a trend which we believe will continue to be in demand with the current economic uncertainty and reluctance of businesses to be tied into long leases, whilst requiring high quality 'state of the art' property. We are excited about the space we are creating at Mark Lane and believe it will launch well."