A FLEXIBLE office operator is planning to expand its operations into Reading, after acquiring more than 16,000sq ft of office space in the town centre.
Impact Working will be based out of R+, a new building opposite Reading’s railway station. It is due to open in November.
The space will include 293 desks, four meeting rooms, six private phone booths, a wellness studio and more than 3,000sq ft of communal space.
Reading is Impact Working’s second location, and its first deal with a private landlord. It launched in 2020 with the Spectrum building in Bristol city centre.
The firm said that Reading is regarded as the beating heart of the Thames Valley, the fastest-growing region outside of London and headquarters to companies from all over the world, covering a wide range of sectors who are brought together in a connected business community.
As part of the Impact Capital Group’s end-to-end real estate lifecycle model, the Impact Working business arm is designed to provide a home to aspirational businesses of all sizes and is focussed on providing experience-led workspaces that promote social cohesion and employee wellness, whilst remaining conscious of the natural environment.
Despite launching during the challenging business environment of the pandemic, Impact Working’s first co-working space has thrived in the Bristol market and reached 78% occupancy within 12 months of opening.
Metric Real Estate advised Impact Working, and Brayfox Smith and Hatch advised Oval Asset Management to agree the lease deal.
Robert Whitton, Co-founder and group CEO 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.”
He continued: “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.”
And Mark Gregson, co-founder and CEO 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.”
