NEWS & INSIGHTS

Our overview of speaker interviews, Property Week office real estate news and other relevant market information.

Knotel forms management partnership with Great Portland Estates

Knotel has agreed to manage 82,000 sq ft of office space for Great Portland Estates (GPE) in Moorgate, London. READ MORE>

​Knight Frank predicts Edinburgh office shortage

Edinburgh’s growing popularity as a tourist destination is creating a looming shortfall of office space in the city, according to Knight Frank. READ MORE>

FORE Partnership secures first tenant at Windmill Green

Technology business Interact Software has become the first tenant to sign up for an office at new Manchester office building...READ MORE>

From flexible boom to bust?

OneEleven’s decision to review its UK plans could be a sign of things to come. The way flexible office providers are expanding has all the hallmarks of a frantic land grab. READ MORE>

Instant Group acquires Incendium Consulting

Clients are demanding more choice across their office portfolios as they grapple with growing their businesses in a fluid political and economic environment. READ MORE>

Do WeWork’s special-purpose vehicles pose a risk to landlords?

We often see special-purpose vehicles (SPVs) created to acquire properties, as it enables the ultimate owners of the vehicle to shield their parent company or other interests. READ MORE>

Yardi coworking think tank: how to build a flexible brand

With more property companies launching flexible workspace brands, Property Week and Yardi put together a panel of industry experts to identify the secrets of success in a highly competitive market... READ MORE>

Numis to open 50,000 sq ft office in Gresham St Paul’s

Investment bank Numis has taken the top three floors of new City of London office building Gresham St Paul’s. READ MORE>

Knotel raises $400m as firm’s London expansion drive continues

Knotel has raised $400m (£330m) in a funding round that gives the fast-growing flexible office provider ‘unicorn’ status. A year after entering the London market, Knotel already has 63 locations...READ MORE>

KPMG to open technology innovation hub at Circle Square

Bruntwood SciTech has signed KPMG up to its Manchester scheme Circle Square, where the big four advisory firm will open a tech innovation hub next month. READ MORE>

Interview with Justin Harley, Yardi


Cushman & Wakefield Coworking UK Report 2019

Since 2018, flexible workspace operators have accounted for the largest proportion of take-up in Central London (18%). This shows how the flexible workspace industry has become a vitally important component of the Central London office market. READ MORE>

JLL’s head of EMEA flex space quits to set up own flex firm

Dan Brown, JLL’s head of flex space, has left the firm less than a year after the team’s creation to set up his own independent consultancy. READ MORE>

Boutique Workplace to open largest office yet

“With demand for our product continuing to soar, this acquisition opens up a new and interesting market for us,” said Daniel Wheble, chief executive of The Boutique Workplace Company. READ MORE>

Blackstone agrees $4.5bn Dream deal

Blackstone has agreed to buy Dream Global REIT in a $4.7bn deal – less than a week after the US private equity firm raised $20.5bn for its latest real estate fund. READ MORE>

Take-up in flexible office sector continues to grow

Flexible workspace will account for at least 5.5% of London’s office stock by the end of the year, according to a new report from Cushman & Wakefield (C&W). READ MORE>

WeWork’s New York flotation plans hang in the balance

Following this week’s request from SoftBank – WeWork’s largest external investor – to shelve the group’s IPO plans following a lack of investor appetite, the listing now hangs in the balance. READ MORE>

Tenant engagement app HQO makes Paris debut

“Tenants have a new set of workplace expectations, and leading owners and operators are embracing technology in order to create a data-driven tenant experience,” said HqO’s chief executive and co-founder Chase Garbarino. READ MORE>

Birmingham leads surge in regional serviced office take-up

Serviced office take-up in the six largest regional cities outstripped the rate of growth in London in the first six months of 2019 to hit almost the same level achieved in the whole of 2018, new research by BNP Paribas Real Estate has revealed. READ MORE>

Fora CEO Enrico Sanna On Prop​Tech And Flexible Workspaces

A shift in workplace culture and owner attitude, coupled with the use of tech to enhance operations, has resulted in the evolution of the office market into a services-led business...READ MORE>

IWG brings in administrators to close Brum serviced office

An IWG subsidiary has appointed administrators to close an underperforming serviced office in Birmingham, in a move that once again puts the spotlight on its use of special purpose vehicles (SPVs). READ MORE>

Goldman Sachs buys Croxley Park in £400m deal

Goldman Sachs has bought Croxley Park business park from Columbia Threadneedle for a price believed to be around £400m. It is understood that the income strip deal...READ MORE>

​Palm Capital sells Edinburgh office building for £27m

Private equity firm Palm Capital has sold the 1 Waterfront Avenue office building in Edinburgh to the Bank of London & The Middle East for £27m. READ MORE>

Interview with BizSpace CEO, Gareth Evans


Interview with Uncommon co-founder Tania Adir

Walk into flexible workspace provider Uncommon’s Liverpool Street office and you will immediately notice two things. The first is the lush green surroundings...READ MORE>

Hana launches first three London locations

CBRE’s flexible workspace provider Hana has launched its first three UK locations in the capital. READ MORE>

Cushman & Wakefield appointed as agent at 101 Embankment

MMA Holdings has appointed Cushman & Wakefield as the joint letting agent at 101 Embankment in Manchester. READ MORE>

Regional REIT to be net buyer of property in 2019

The company made a £25.9m portfolio purchase of six offices in Birmingham, Bristol, Cardiff, Chester, Glasgow and Manchester last month...READ MORE>

MJ Hudson inks 17,000 sq ft letting in the City

Asset management company has agreed to take a 17,000 sq ft office at 1-3 Frederick’s Place in the City of London. The firm will take the full five floors of the Grade II listed building owned by The Mercers’ Estate and occupy the building at the beginning of 2020. READ MORE>

Mayfair Capital purchases Bonhill building from L&G

L&G has confirmed the sale of 15 Bonhill Street to Mayfair Capital for £112.5m. READ MORE>

WeWork under offer on 12 new offices in London and Glasgow

A week after WeWork filed the prospectus for its much-anticipated initial public offering (IPO), Property Week can reveal that the flexible office behemoth is under offer on a dozen new centres, totalling 330,000 sq ft. READ MORE>

​Spaces continues London expansion with Victoria opening

Workspace provider Spaces has opened an 80,000 sq ft site in Victoria, offering 1,500 workstations over seven floors. The company recently announced that it will also be opening centres in...READ MORE>

ION takes new offices at 10 Queen Street Place

ION Trading has acquired new office space at Riverscape, 10 Queen Street Place, London. The software group has signed leases for parts of the first and second floors. READ MORE>

Sony confirms move to Liverpool's Echo Building

The business is set to take 65,000 sq ft of the former newspaper headquarters, where it will be moving to from the 50,655 sq ft Sony Building in ...READ MORE>

Look back face forward - Real Estate 2019 market trends

KPMG’s Real Estate team reviews the landmark deals completed in 2018 – and considers what the coming year is likely to deliver. READ MORE>

Proptech arbnco selected for Los Angeles net-zero carbon emission accelerator

Scottish proptech firm arbnco has been selected to take part in a business accelerator that will help Los Angeles, California, in its efforts to get to net-zero carbon emissions. READ MORE>

Interview with Daniel Wheble, The Boutique Workplace Company

Ten years ago, moving office was something occupiers did out of necessity rather than choice. READ MORE>

Avison Young Mid-Year Global Office Market Report

Demand for office space remains strong despite economic uncertainty. The second half of 2018, in particular, posted some of the strongest activity on record across the U.K.’s top 10 markets. Outside of London, Barclays...READ MORE>

Is proptech the next bubble market?

With money pouring into proptech, what risk is there of a new bubble developing? Or are we simply seeing...READ MORE>

UBS Asset Management’s Triton Property Fund disposes of £59m Shoreditch office

Jonathan Hollick, Triton’s portfolio manager, said: “Following four years of strong performance, the property has more than delivered its business plan. READ MORE>

​Venture X to make European debut at Chiswick Park

US coworking provider Venture X is to open its first European office after taking 13,998 sq ft of space at Chiswick Park in west London. Venture X has struck a deal with estate management firm Enjoy-Work...READ MORE>

Uber has appointed agents to help it find a new office in London.

Property Week understands the taxi app business has instructed CBRE to find it an office in the City or City fringe of around 70,000 sq ft. READ MORE>

Aviva Investors and Brookgate bag final tenants

Aviva Investors and Brookgate have secured three new lettings at 50/60 Station Road in Cambridge. The deals complete the leasing of the 156,000 sq ft of Grade A office space ...READ MORE>

Alpha buys Bristol office for £73m

Alpha Real Capital has bought the Temple Quay House, Bristol for £73.35m for one its long-income funds. READ MORE>

CBRE hires new head of South East offices investment

CBRE has appointed former Savills director James Delliere to lead its South East team. Delliere, who joins as executive director, is replacing Mark Routledge, who left CBRE earlier this year....READ MORE>

Brockton Everlast and Quoinstone buy Old Street office building for £106m

Brockton Everlast and Quoinstone Investment Management have bought Old Street office building Telephone House for £106m in an off-market deal. READ MORE>

Deutsche mulls office closure

Deutsche Bank is reviewing its occupation of Landsec’s Zig Zag building in Victoria, London, just two years after moving in, Property Week can reveal...READ MORE>

LBS refinances trio of London offices with BentallGreenOak

The developer said the new facility, which replaces a previous debt facility with Cheyne Capital, would enable it to hold on to the assets, each of which was developed using...READ MORE>

British Land confirms Bank of Montreal letting

British Land has confirmed that Bank of Montreal has committed to take 60,000 sq ft at its 100 Liverpool Street scheme. READ MORE>

Colliers and Impey win Pyramid appointment

Eamar Developments UK has appointed Colliers International and Impey as joint letting agents at the Pyramid office building in Stockport. READ MORE>