[bctt tweet=”WeWork is set to land £55.7 million (€62m) from the European Union after taking over the lease of the European Medicines Agency’s (EMA) former London headquarters.” username=”allwork_space”]
In light of Brexit, the UK’s pending departure from the European Union, the EMA has been forced to drop the £500m lease it had agreed in 2011 and is relocating to Amsterdam.
The EU’s draft budget for 2020 revealed it had allocated this figure in “financial inducements” for the new sub-tenant for the financial year 2019/20.
WeWork will take over 30 Churchill Place in Canary Wharf, London, under a sublet agreement. The space totals 280,000 sq ft, and once refitted, will create one of the world’s largest flexible office spaces.