Co-working space provider Runway East has signed a 20-year deal with global investment firm Abrdn to open a new site in Bath. Kings Court, a Grade II listed building on Parsonage Lane in the city centre, is the flexible workspace company’s third site in the South West.
Runway East Bath, which covers 23,000 sq ft, will open in phases starting in the spring of this year.
The agreement is the second with partner Abrdn following a deal for Runway East Bloomsbury, a 45,000 sq ft joint venture.
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“It seems we’re collecting all the cities beginning with B! Bath joins Brighton, Birmingham and Bristol in addition to our sites in London,” said Natasha Guerra, chief executive of Runway East.
“Bath is internationally known for its UNESCO World Heritage status, it is regularly featured as one of the best places to live, work and visit - so we are thrilled to offer our services here.”
Edinburgh-headquartered Abrdn joins L&G, GPE, Peer Group and Soho Estates as landlords of Runway East sites. In Bristol, Runway East is the largest operator of flexible workspace.
Peter Tomley, deputy fund manager from Abrdn, said: “We’re really pleased to welcome Runway East to King’s Court, Bath. With a business model to create the best possible environment for startups and scaleups, as well as established businesses looking for more flexible office solutions, their product is a great addition to the city, playing both to the region’s growth agenda whilst also providing the fund with long term, durable income.”
Runway East was selected as the preferred partner by Abrdn given its knowledge of the South West market.
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Will Kinnear, founder of HEWN who advised Abrdn, added: “They are a great addition to the Bath market, their in-demand product is attune with the ambitions of the local council and the economy it wants to create and foster.”
Runway East, which is B-Corp certified, now has 13 spaces across London, Birmingham, Brighton and Bristol. Businesses using their space include household names such as Deliveroo, Dojo, and Grind.
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