Ministry of Sound, the multimedia entertainment business behind the renowned London nightclub, is eyeing regional city centre sites for the launch of a new co-working operation.
The group behind the Elephant and Castle club, which was the first venue to bring American house music to the UK when it opened in 1991, is in talks with developers in Manchester and Birmingham about potential 40,000-50,000 sq ft locations for the concept.
It is understood the group is looking for refurbishment opportunities such as historic buildings or warehouses.
Co-founded by Lord (James) Palumbo of Southwark, who remains the majority shareholder, the group has expanded into other divisions, including live events, music publishing and brand partnerships. The company is run by chief executive Jonathan Bevan.
Ministry of Sound started a co-working operation at its office adjoining the club at 103 Gaunt Street, SE1, last year. The group currently rents out 50 desks aimed at people working in the creative or music industries.
The company would be the latest in a series of new flexible workspace operators to emerge over the past year in response to demand from occupiers. Flexible office space demand in UK regional cities at least doubled last year, with Manchester and Birmingham seeing the largest increases, according to Savills.
John Duckworth, managing director of flexible workspace specialist Instant Group, said: “The opportunity for Ministry of Sound to leverage its brand and loyal client base by opening co-working spaces is an astute move.
“The ability to attract the creative industries with a focus on quality of location is critical as they have driven so much business growth across the UK in recent years.
“We expect to see more established brands deliver customised spaces this year with workspaces tailored to user needs and a greater variety of amenities.
“It is very interesting also to see lifestyle brands focusing on the working environment, and over time we think this will see the evolution of the workspace market as end users begin to reconsider what they expect from office space.”
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