Housing association buys new offices at Flexspace

Countryside Properties PLC has completed the sale of one of its new office buildings at Flexspace, Upper Clapton, London E5 to The North London Muslim Housing Association (NLMHA).

Flexspace is part of Urban Hive, Hackney and offers brand new high specification office space on the fringe of the City of London, only three miles from the London Olympic site and Stratford City Regeneration Area.

The new NLMHA building, Flexspace 2, provides a total of 351 sq m (3,779 sq ft) of self contained accommodation arranged on ground and first floors with adjacent car parking. Also included within the sale is a ground floor retail unit, 108 sq m (1,162 sq ft), let to Assura Pharmacy Ltd.

The new occupiers at Flexspace join a new health centre overlooking an attractive landscaped public square and a Costcutter community supermarket. The development also includes eight industrial units totalling 2,134 sq m (22,960 sq ft) which were all forward sold to a variety of businesses.

Mark Chatham, Director of Countryside Properties said: “This sale shows that a divergent spread of different businesses is a valuable component in high quality urban regeneration. Flexspace benefits from the green environment of Lea Valley Park on its doorstep yet nearby Clapton Station is only 12 minutes from London Liverpool Street. It offers high quality new office accommodation on highly competitive terms.”

Flexspace forms part of a larger 13.33 acre mixed-use regeneration scheme that includes a major new residential community of 650 homes (affordable housing by Southern Housing Group and private housing by Taylor Wimpey) on the former Latham’s Timber Yard site just 10 minutes from Clapton Station.

Flexspace is located on Theydon Road, Upper Clapton, London E5 9BQ. The remaining Flexspace building provides 1,061 sq m (11,431 sq ft) of Grade A office accommodation in suites from around 185 sq m (2,000 sq ft). The property is available on either a freehold or leasehold basis.

Further information about Flexspace is available from Mark Chatham at Countryside Properties, see urbanhivehackney.com. For information about other Countryside Properties developments visit countryside-properties.com.