The Office Group (TOG), pioneers of the shared workspace in Britain, have agreed a 20-year lease for the former BBC base Brock House.
The site covers 28,000 sq. ft. of space and since its opening in 1908 housed the Philharmonic Hall, a cinema and most recently the iconic BBC. Now, under an agreement with landlords, Gascoyne Holdings, TOG will place their stylish and innovative stamp on this historic building.
Transforming the site, TOG will create private and co-working space for the modern day business with a strong focus on design and image. With each centre having its own individual style, the office’s appearance will be highly anticipated until its completion in 2020.
Founded in 2003 by Charlie Green and Olly Olsen The Office Group has become London’s largest privately-owned occupier of office space with a total of 236 employees across 34 sites. The acquisition of their latest building is only a symbol of their continued success and proof of a tireless business strategy.
Their sound understanding of modern day business needs has secured TOG licensees including technology giants Facebook and Google. Beyond the tech world, each centre’s unique design, tailored to the requirements and preferences of differing industries has delivered TOG a diverse portfolio of clients. The abolishment of ‘corporate carpets or house colours’ has made these offices extremely popular throughout London’s business world.
Gaining strength and profits year on year, the business saw an impressive revenue increase last annum from £43m to £69m as reported by the Evening Standard. It also reported that TOG foresee a £98m revenue for the upcoming financial year with this increasing to an eye watering £150m by 2019.
Moving forward the company anticipate more ownership, going into partnership with property companies and landowners. Currently TOG only owns 25% of its buildings with the rest simply leased. Green told the Evening Standard, “We want bigger buildings where we can provide more space and flexible licences,” he says. “The average length of stay across our entire portfolio is 24 months but in the newer buildings it is 32 months.”
In regards to Brock House, with such a high demand for office space in London’s West End, Londonoffices are keen to be able to introduce this amazing new centre to our clients.