The Office Group and Fora to merge in deal that would see 3.1m sq ft of office space
The Office Group and Fora have announced plans for a merger, in a bid to become the “premier flexible workspace company in the UK and Europe.”
The deal is subject to regulatory approval but the combined group would comprise 72 premier locations totalling 3.1 million sq. ft.
A combined portfolio would cover London and Cambridge, Oxford, Reading, Bristol, Leeds, Berlin, Frankfurt, and Hamburg – with the two firms eyeing expansion into other European cities.
The firms did not disclose the financial terms of the proposed merger.
The Office Group’s co-founder Olly Olsen will become executive chairman of the new company while Fora co-founder Enrico Sanna will become CEO.
The Office Group’s co-founder Charlie Green will become president and oversee all aspects of real estate, while Fora co-founder Katrina Larkin will be chief environment, social and governance officer.
Olly Olsen said the merger came at a time when more businesses have been embracing flexible working, with a “strong strategic and cultural fit” between the two firms.
He added: “We have seen a clear and growing need from corporates for better quality environments, with great amenities, beautiful design and that are easily accessible.
“The combination of our businesses would ensure that we are best placed to meet this growth opportunity in both the UK and Europe, offering existing and potential members even greater choice.”
Bosses have been “increasingly recognising that the workplace is no longer a commodity, but rather a space that can be used to actively drive improved productivity, collaboration and the wellbeing of their teams,” Enrico Sanna added.
He continued: “The combined portfolio of TOG and Fora will meet this need and evolving expectations, offering high quality and flexible locations that are design-led, with a range of services and amenities that are conducive to enhanced employee and business performance.”