Global flexible office specialist The Instant Group has acquired Property Solutions Africa (PSA), a specialist provider of managed offices in South Africa.
The Instant Group said it purchased the firm to expand its footprint and develop its business across the African Continent.
South Africa is one of the fastest growing markets globally for coworking and other forms of flexible workspace, including managed offices with demand increasing by 49% year-on-year since 2019 and coworking space accounting for 1.6% of total office stock in the region in 2022.
Tim Rodber, CEO of the Instant Group said: 'Demand for support from both occupiers and suppliers of workspace is rapidly increasing across the African continent. The acquisition of PSA allows us to respond to the demands of these businesses and provide innovative workspace solutions that meet their needs. We very much look forward to supporting Kieron and his team grow across the region.'
PSA is a multi-disciplined real estate advisory firm, recognised as having pioneered occupier service lines in South Africa and Sub-Saharan Africa. The team has more than 28 years of experience and has successfully delivered in excess of 250 000 m2 of flexible workspace products for multi-national clients across Africa.
PSA is led by Kieron Murray. PSA has worked with clients such as Amazon, GSK, Phillip Morris, Eversheds, RELX-LN, H&M, Intelling, and PPS on real estate deals in more than 24 locations across sub-Saharan Africa.
Said Murray, director, PSA: 'Businesses venturing into Africa require expert guidance spanning office search through to delivery of workspace. Our extensive market experience combined with The Instant Group’s flexible marketplace allows us to bring international support to clients across African markets meeting the growing demand for flexible workspace.'