Fidelity International Acquires Prime London Property from WeWork

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Fidelity International has acquired 99 Queen Victoria Street in London from the struggling coworking giant WeWork. The investment into the London property is the debut investment for its Article 9 Fidelity Real Estate Climate Impact Fund, according to PropertyEU.  

The acquisition, sold at approximately £48 million — a 31% discount from the initial asking price — reflects a strategic move towards sustainable and flexible workspaces for the firm. The property is reported to undergo extensive renovations starting in early 2024 — with completion expected in 2025. The goal of the renovations is to enhance energy efficiency, incorporate modern amenities, and provide clear and simplified floorplates

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This move by Fidelity International is suggestive of a trend in the commercial real estate industry, where investments are being made that cater to an increasing demand for sustainable, flexible, and employee-centric workspaces.  

The integration of green spaces and a focus on energy efficiency aligns with broader industry trends towards a more sustainable and environmentally friendly workforce. The accommodation at 99 Queen Victoria Street is poised to create a workspace that not only meets the current demands of the workforce but also contributes to the long-term sustainability goals of the city.  

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Fidelity International’s acquisition and planned refurbishment of WeWork’s 99 Queen Victoria Street is not only in response to the current demands of the workforce but also aligns with long-term sustainability goals. 

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