Coworking Firms Experience Major Growth In The UK
Major coworking firms’ portfolios in the UK grew by 22% last year despite increasing competition in the industry.
For example, WeWork’s footprint in the UK grew 30% last year despite having a turbulent year due to its scrapped IPO and the ousting of founder and former CEO Adam Neumann.
Additionally, IWG’s brand Regus opened its largest London location, taking up 80,000 square feet in Victoria.
“The shared offices industry continues to invest in new space on a very large scale, even as the market becomes more competitive,” said Dennis Ko, Boodle Hatfield partner. “It’s hard to overstate just how revolutionary this latest wave of shared workspace companies have been in the commercial real estate market over the past few years. They have fundamentally changed what people expect an office to look like, and what services and office should have.”
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