London’s flexible office workers shift to four days a week December 16, 2024 Workers in London’s flexible office space have increased the number of days at their desk, despite sentiment that Londoners were unlikely to return to pre-covid working patterns. Three quarters of workers in flexible offices now use the working space at least four days a week, according to fresh data from Knight Frank. This comes amid [...]
City rents rise as return to the office drives up demand for prime locations December 3, 2024 Available office space in London’s most sought-after areas has slumped to near record lows as businesses continue to reverse pandemic-era working from home rules. According to global property consultancy Knight Frank, availability in newly constructed office buildings has fallen to 0.3 per cent in the West End Core – which includes Mayfair and St James’s [...]
Wework: UK firm owes almost £840m to bankruptcy-hit US owner November 28, 2024 The UK arm of troubled US co-working startup Wework lost almost £150m in the year before its parent company filed for bankruptcy. The division suffered a pre-tax loss of £147.9m in 2023, according to newly-filed accounts with Companies House. The latest figure comes after the arm racked up a pre-tax loss of £122.6m in 2022. [...]
Workspace: London flexible office firm’s profit up despite low occupancy rates November 22, 2024 Flexible office provider Workspace has continued to see an uptick in demand for lettings despite a slight downturn in occupancy rates. The business, which manages millions of square feet of office space across London, saw a 4.3 per cent boost in underlying rental income, bringing it to a total of £60.2m. In line with “good customer [...]
Plans worth £200m revealed by Imperial College London and Bruntwood SciTech November 20, 2024 Imperial College London is to build a life sciences and deep tech development worth over £200m in the west of the capital after partnering with Bruntwood SciTech. The university has earmarked land at its White City Deep Tech Campus after signing an agreement with the joint venture between property group Bruntwood, Legal & General and [...]
IWG buoyed by workers returning to the office November 5, 2024 Hybrid workspace platform International Workplace Group (IWG) has reported an uptick in revenue boosted by strong growth in its managed and franchised properties. Revenue grew by two per cent in the three months to 30 September, 2024, on a year-on-year constant currency basis, the company told markets this morning. The firm grew revenue at its managed and [...]
Howard de Walden opens leading Healthtech hub November 1, 2024 The Howard de Walden Estate has taken a notable step in its healthcare innovation strategy after it announced its £52m investment in a new Healthtech hub centred on Hale House. Partnering with Spacemade, the flexible workspace provider, Walden said it aimed to make the Harley Street Health District the leading global destination for health technology [...]
Law firm DWF extends Walkie-Talkie lease to 2034 October 22, 2024 Sir Nigel Knowles’ legal and business services firm DWF has extended its London office lease for 10 years, as the firm reconstructs its floor for flexible working
Workspace: Lettings strong but occupancy declines with clients vacating October 15, 2024 Leading provider of flexible office spaces Workspace reported strong lettings in the latest quarter, but saw some of its bigger clients quit as occupancy declined. The firm said it completed 296 lettings in the second quarter of 2024, generating £7.4m in annual rental income. The London-based firm’s like-for-like occupancy rate however dipped by 0.7 per [...]
Lessons in growth from East London’s meteoric rise October 10, 2024 What we can learn from the astonishing ascendancy of East London from a wasteland to the fasting-growing, hippest area of the capital