WeWork Checks Into Birmingham Base No. 2
Exactly a fortnight after it emerged that WeWork's first Birmingham hub would be 55K SF at U.S.-owned landlord Nuveen's 55 Colmore Row, the coworking giant has signed for a second, this time at Newhall Street.
WeWork has agreed a deal with Louisa Rylands House landlord Euro Property Investments Limited and expects to open for business in spring 2020, Midlands Business Insider reports.
WeWork is to open over seven floors at the 81K SF block which was being promoted as an aparthotel or hotel venue as recently as last year.
The move confirms anecdotal evidence that the tide has turned on the recycling of older office premises for other uses, thanks to a surge in demand from office occupiers, particularly in the flexible workspace sector.
Flexible office accommodation accounted for 29% of the total 2018 office take-up but is expected to be substantially higher in 2019.
The latest hub is a short walk from their first at Colmore Row, and equally short distances from other hubs believed to be close to agreement at Brindleyplace, Paradise Circus and Snowhill.
WeWork are among a host of coworking and flexible workspace operators now scoping the Birmingham office market: rival The Office Group said it is looking for around 150K SF.
