- US flexible workspace franchise brand, Serendipity Labs, is entering the UK market for the first time.
- The firm has announced a landmark deal with Newable Flexible Workspace, a consultancy and investment service for the sector.
- Under the agreement, Serendipity Labs and Newable plan to open and operate at least 25 Serendipity Labs locations across the UK.
Leading upscale US workspace provider Serendipity Labs and Newable Flexible Workspace have announced a landmark deal to launch the established flexible office brand in the UK.
The announcement marks Newable Flexible Workspace becoming the exclusive area development partner for Serendipity Labs, with plans to open and operate at least 25 Serendipity Labs locations across the UK.
Founded in 2011, Serendipity Labs operates a network of upscale, hospitality-infused workplaces offering shared and dedicated workspaces, meeting venues and work lounges in over 37 locations in 29 markets across the United States. The company has an ambitious U.S. and international growth strategy, at a time when the flexible office sector in Europe alone is expected to grow by up to 30% every year over the next five years, according to a recent report by JLL. Meanwhile, in London, 18% of take up since January 2018 was by flexible office operators*, with this figure predicted to continue growing.
Newable Flexible Workspace is operated by Newable, the leading provider of money, advice and space for the SME community. Newable Flexible Workspace delivers and manages a range of branded flexible office solutions for every type of location and occupier.
Delivered via management contract agreements and/or franchises, all workspace solutions benefit from the common Newable Flexible Workspace platform, from demand generation, to building management and compliance through to account reporting, yield optimisation and planning.
By adding Serendipity Labs to its portfolio, Newable will be able to offer upscale workplace solutions for large corporate occupiers that follow its standards for compliance, design and staffing. As with other Newable workspaces, they will offer Serendipity Labs to asset owners through franchise and contract agreements.
Brett Million, Strategic Partnerships Director at Newable Flexible Workspace comments: “Being the delivery partner for such a prestigious international company like Serendipity Labs reflects our ambitious growth plans – with a shared vision to shake up the UK’s flexible workspace market. We’re changing the way people look at workspace, from fresh-out-of-the-box start-ups to budding SMEs and larger corporates. Together, we will provide hospitable and inspiring places that allow these businesses to grow, while generating long-term value for asset owners who are looking to benefit from the combined expertise, brand equity and network that this deal will bring.”
John Arenas, Chairman and CEO of Serendipity Labs comments: “We selected Newable Flexible Workplace to develop the Serendipity Labs network in the UK because of its proven ability to deliver value to office property owners and to flexible office occupiers. Adding our upscale, enterprise class co-working brand to its set of offerings will allow Newable to address the needs of top asset owners with a trusted four-star flexible workplace experience.”
*Coworking 2019: the UK Flexible Evolution Continues – Cushman & Wakefield report