Geldards helps FOUNDRY create an innovative workspace revolution in The Eastbourne Beacon

Geldards helps FOUNDRY create an innovative workspace revolution in The Eastbourne Beacon

Geldards has advised FOUNDRY and helped achieve their vision of a ‘workspace revolution’ in the Beacon Shopping Centre in Eastbourne, a joint initiative with Beacon owners Legal & General Investment Management (LGIM).

FOUNDRY’S mission is to empower the local business community, giving them space to think differently.  Spread over two floors, it offers a range of office spaces, retail, meeting and hosting space so that entrepreneurs and micro businesses of Eastbourne and the wider area can flourish, helping to level up inter-regional inequalities when it comes to high tech, high quality working space.

Adam Walker, FOUNDRY’s Co-founder, has a vision  to create flexible, affordable, professional, vibrant mixed use venues for entrepreneurs.

Working with Legal & General Investment Management (LGIM) Real Assets, FOUNDRY Eastbourne is the first in a programme of such schemes that will be rolled out across the country. Future developments will focus on areas that haven’t previously been well served by local modern working spaces, each one tailoring itself  to the requirement and needs of the local market.

The FOUNDRY team together identify assets ripe for diversification and repurposing then retain full control by designing, building, curating, and operating the schemes. Work is currently underway on three initial sites and FOUNDRY members will have total freedom to move across between sites if they want to.

Working with Adam on this project, Geldards was able to bring its substantial retail and leisure expertise into play to support the unique FOUNDRY offering.

Hélène Maillet-Vioud Real Estate Partner at Geldards comments:

“Sharing space, collaborative working and unusual occupational arrangements is not unfamiliar to us.  Our team has worked on bespoke sharing and collaborative working arrangements for many clients in the public and educational sectors who, faced with similar circumstances, are seeking creative property solutions. What has been a little more unusual for us in this project is to be advising on a purely private sector driven venture. But when we saw the plans we knew it was an exciting and original opportunity and a wonderful chance to work with an innovator like Adam and his team.

Adam’s concept really brings together different elements of working and leisure space into a unique co-working and creative environment which we have been delighted to support. Working with Legal & General’s legal team at Gowling WLG to create the right framework for the scheme has also been a smooth process.  We look forward to working with Adam and the FOUNDRY team on future schemes and continuing to be part of the change”.

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