Flexible office firms push ahead with growth in competitive market February 3, 2020 The UK’s biggest co-working office firms grew rapidly last year, despite operating in an increasingly competitive market. Shared office providers grew their portfolios by 22 per cent in the last year, as major players such as Wework expanded into new global markets. The value of Wework’s UK portfolio jumped 30 per cent from £3.05bn to [...]
Build it better: How the office of the future can help save the planet January 23, 2020 Climate change is the headline topic in Davos this week, where business leaders and politicians have gathered for the World Economic Forum. Activist Greta Thunberg told the gathered elite that their inaction over the climate was “fuelling the flames by the hour”. While many may dismiss her warnings (President Donald Trump earlier urged leaders to [...]
Wework sells software firm Teem as it slims down after float fiasco January 22, 2020 Wework today said it has sold management software firm Teem as the troubled coworking company offloads fringe businesses after its botched initial public offering (IPO) last year. The sale to digital workplace solutions provider iOffice came as Wework also offloaded its minority stake in coworking startup The Wing. Wework said the deals, whose values were [...]
Will the office become redundant in the 2020s? January 6, 2020 According to a survey by the Trade Union Congress, the number of people who regularly work from home in the UK has increased by 27 per cent over the past 10 years. As more and more companies acknowledge the benefits of flexible working, the technology enabling it continues to advance, offering remote workers improved connectivity. [...]
Trellis tower: London’s second-tallest skyscraper gets green light after planning battle November 25, 2019 Plans to build London’s second-tallest skyscraper, the Trellis, have been given the nod after a three-year planning war. The tower, whose real name is 1 Undershaft, will be 1,000 feet tall when completed, standing just 17 feet shorter than the Shard. Read more: Was Sadiq Khan right to reject plans for the Tulip tower? After [...]
Wework lays off 2,400 employees in Softbank-led efficiency drive November 21, 2019 Wework today confirmed it will lay off roughly 2,400 employees around the world as the company launches a drastic bid to cut costs and shore up its business. A Wework spokesperson said the cuts were part of the company’s efforts to focus on its core business and “create a more efficient organisation”. Read more: New [...]
City Moves for 20 November – Who’s switching jobs at Allsop, Baker McKenzie and Saga? November 20, 2019 Today’s City Moves includes Allsop, Baker McKenzie and Saga Allsop Leading property consultancy Allsop has appointed Jamie Hopkins to its board as non-executive director. Jamie is the former chief executive officer of Workspace, a leading provider of business space, having served in the role since 2012. Scott Tyler, senior partner at Allsop, said: “We are [...]
Wework rival IWG boosts revenue as franchise business expands November 5, 2019 Wework rival IWG boosted revenue in the third quarter as the flexible office space provider built momentum with its expansion plans and international franchise business. IWG reported a 9.4 per cent increase in revenue to £692.3m in the three months to 30 September, driven by the Europe, Middle East and Africa (EMEA) and US markets. [...]
Exclusive: Flexible office space firm Central Working falls into administration October 23, 2019 London-based flexible office space group Central Working has collapsed into administration. The co-working business, which hosts 1,850 companies across 11 sites in the UK, has appointed administrators from independent advisory firm Quantuma. Read more: Softbank seizes control of Wework in deal making Adam Neumann a billionaire A letter to tenants seen by City A.M. said [...]
New builds: Homes on the market in London this week, from a former modernist office in Croydon to luxury flats in Mayfair October 18, 2019 Brunel Street Works, Canning Town From £375,000 for a one-bed Brunel Street Works, a 975-home development in Canning Town, is being launched by Linden Homes this weekend. The one, two and three-bed apartments are part of a wider regeneration project which will also bring new shops, workspace and a hotel to the area. Residents will [...]