Spaces Wants Spaces WeWork Doesn't: Manchester's Hectic Coworking Market
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What WeWork didn’t want, Spaces does.
Spaces UK, the flexible office provider, is to take the entire 117K SF speculative office development at 125 Deansgate.
The deal comes five months after a deal with WeWork, who were expected to take 45K SF on the first four floors of the block, fell out of bed.
At the time this was attributed to landlords turning against some flexible providers’ business models. It now appears it was to make room for a much bigger deal.
The new Spaces block will open in 2020, North West Business Insider reported.
In April 2019 WeWork agreed to lease its fifth Manchester hub, taking 51K SF at Boultbee Brooks' refurbishment of 75 Mosley St, Manchester.
The new hub is a little over 100 metres from one of WeWork's first Manchester outposts at 1 St Peters Square, where it took 40K SF in September 2017.
OBI and Savills advised Boultbee Brooks Real Estate.
In the Spaces deal, Knight Frank, Savills and Cheetham & Mortimer advised Worthingtons. CBRE acted for Spaces UK.
