Blackstone Buys Majority Stake In The Office Group
Leading investment firm, Blackstone, recently bought a majority (75%) stake in UK based flexible workspace provider, The Office Group. The deal now values TOG at a staggering $640 million and will accelerate the workspace provider’s growth.
Get the full scoop and Adam Greenwald’s take on why this is big news for the industry here.
British Land Releases Details About Its Flexible Workspace Brand
About a month ago, property group British Land announced the launching of a new flexible workspace brand in the UK. Earlier this week, British Land released more details about Storey, the newly formed flexible workspace brand. According to their website, their first few location will be located in the Broadgate and Ealing Broadway areas. The company also stated that 80,000 square feet of workspace is already being fitted out.
WeWork To Open First UK Location Outside Of London
A recent article claims that WeWork has signed its first lease agreement in the UK outside of the city of London. According to Place North West, “WeWork is to base its first UK operation outside of London in No. q Spinningfields”, Manchester. It has signed a 60,000 square feet location.
Read more details about WeWork’s upcoming Manchester location here.
Mark Dixon Sells £94.2m Of IWG (aka Regus)
Mark Dixon, founder of serviced office giant Regus, has sold a total of £94.2m of IGW’s shares. According Costar, “Estorn has agreed to sell 27,300,000 ordinary shares of 1p each of the company, which are held indirectly by Dixon.” The sale will leave Dixon with about 25.2% of International Workspace Group shares to his name.
