Co-working and startup office leviathan WeWork continues to expand in London. It’s latest accounts show that it has £2 billion of lease commitments in the UK (25 offices in London and two in Manchester) over the next 25 years, indicating it is upbeat about the prospects of the city post-Brexit.
However, rival office space provider Regus is less bullish, issuing a property warning recently amid signs London’s commercial office market could be hit by Brexit. Regus is valued at £1.9 billion, versus WeWork’s $20 billion, even though it has 5 times as much office space globally. Try chewing on that…
One startup co-working company making another type of bet is London’s TechHub. While the US-HQ’d WeWork expands in London, TechHub is taking the fight to the US by expanding to New York. The self-styled “global community for tech entrepreneurs” also has presences in India and Eastern Europe.
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