You can split and join the string, but why not use substrings? Then you only end up with one split instead of splitting the string into 5 parts and re-joining it. The end result is the same, but the substring is probably a bit faster.
string lcStart = "Some Very Large String Here";
int lnSpace = lcStart.IndexOf(' ');
if (lnSpace > -1)
{
string lcFirst = lcStart.Substring(0, lnSpace);
string lcRest = lcStart.Substring(lnSpace + 1);
}