8 Bishopsgate: Reinsurance firm buys 50,000 sq ft of new City of London tower January 14, 2024 One of the City’s newest skyscrapers, 8 Bishopsgate, is filling up with new tenants as a reinsurance firm has taken up two-and-a-half floors. SCOR will occupy 50,000 square feet of the new tower in the heart of the Square Mile, which is 51-storeys, 204-metre tall, and the 10th largest in the capital. The reinsurance provider [...]
SoftBank aiming to buy back Arm stake ahead of high-stakes New York IPO August 14, 2023 SoftBank is reportedly in talks to buy back the remaining 25 per cent stake in Cambridge-based chip designer Arm its own investment unit established in 2017. In a strategic move ahead of Arm’s impending float in New York, Japanese tech company SoftBank is looking to regain Vision Fund’s quarter stake in order to fully own [...]
Wework unsure over long-term liquidity due to how Covid-19 changed the way we work January 6, 2021 Flexible office space giant Wework has raised concerns over its long-term future after the Covid-19 pandemic sparked a dramatic shift to remote-working. The company said today that it has sufficient liquidity to “mitigate the near-term uncertainty associated with Covid-19”. However it said the key judgements in relation to approving the company’s accounts as a going [...]
Wework sells control of China arm for $200m in global pullback September 24, 2020 Wework is selling control of its Chinese division to one of its investors, in a deal that further reduces the office space provider’s global presence after the coronavirus pandemic worsened its financial troubles. Private equity firm Trustbridge Partners will pay the company $200m (£157m) for majority ownership of the unit, as Wework retreats from a [...]
Britain on a ‘downer’, says IWG boss as firm mulls US listing February 11, 2024 The boss of IWG has branded Britain as being on “bit of a downer” as the company continues to mull over a potential switch from a UK to a US listing. Mark Dixon, who founded the flexible working firm formerly known as Regus in 2016, said that the UK economy “looked very sluggish from the [...]
We need to build houses for renters as well as owners August 31, 2022 Adam Neumann, for better or worse, was at the forefront of a revolution of how people viewed the office. Now the former WeWork founder has turned his attention to a different kind of real estate, as cities around the world struggle with overheated rental markets. Before WeWork, Neumann first wanted to start a co-living concept, [...]
Workspace profits jump as demand for flexible offices grows November 21, 2023 Workspace completed 583 lettings during the half year, with occupancy levels remaining largely unchanged at at 88.7 per cent.
Soho House: Waiting list for Kendall Jenner favourite reaches record high ahead of Manchester, Sao Paolo and US openings May 10, 2024 Soho House's memberships jumped 10 per cent to 261,571 in the fourth quarter ahead of openings in Manchester, Sao Paolo and the US.
Value of serviced office providers’ portfolios drops £1.4bn after Covid April 4, 2022 Goliaths in the office space sector have taken their first hit as the value of their property portfolios has dropped. The value of the largest serviced office providers’ estates have fallen to £24.3bn from £25.7bn in the previous year, according to law firm Boodle Hatfield. Since 2017, the value of office space providers has leaped [...]
London gets new West End flexible work space as Elizabeth Line brings in hybrid commuters July 4, 2023 A new 45,000 sq ft site flexible work space will open in the heart of the West End in a signal that London’s hybrid work trend is showing no signs of cooling. Runway East, (RWE) already has five spaces across London, including sites in Borough Market and Shoreditch – and will open a new one [...]