Nottingham is set to welcome a host of new coworking spaces following a £5 million-plus investment in the city’s creative quarter by real estate firm, Perrymead Estates. The work is set to begin with the launch of its flagship Stoney Street Studios.

Perrymead has pivoted its offering to better support East Midlands businesses in a post-COVID climate. Its new Stoney Street Studios venture, in the heart of the Lace Market, launches as the Government shifts from its work-from-home mandate to allow a return to the office from 19 July 2021.

Perrymead Estates already has a multi-million property portfolio, which includes the Lace Market’s Garage Studios office complex.

The first premises to open its doors will be Stoney Street Studios, which has been three years in development and involved a £2.5 million renovation spend.

A further project planned for the Creative Quarter will launch a destination business club office space in Nottingham, featuring a restaurant, bar, and accommodation, in a projected investment of £3.4 million.

Those plans will take shape incorporating feedback from Stoney Street Studios, which has already secured a number of tenants from the city’s burgeoning creative sector.

Dating from 1845, the Stoney Street building blends original features with modern design. Purchased in 2016, Perrymead Estates has undertaken its own construction, predominantly using local personnel and suppliers. 

The launch of the coworking space in Nottingham is long-awaited, having faced delays due to the pandemic. It offers:

  • High speed internet (1GB)
  • High specification fit-out with bespoke kitchen and coffee bar
  • Hardwood furniture
  • LED lighting
  • Smart access control
  • CCTV security and on-site management
  • Private lockers and shower facilities
  • Audio and visual facilities

Stoney Street Studios is the third project in the Lace Market by Perrymead Estates, since 2015.  Kayes Walk Residences, comprising eight apartments, was the first investment in the area totalling £1.4 million. Garage Studios, a development of eight offices, was the second, replacing the Lizard Lounge nightclub and adding a further £1.1 million of investment. The serviced offices in Nottingham can accommodate more than 30 tenants and will offer flexible options including quarterly contracts and ‘ad hoc’ membership for drop-in hot desking.

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