WeWork, the provider of flexible office space, has notched up its 50th location in London by signing a leasing deal on an office off Fenchurch Street.
The property at 1 Lloyd's Avenue is WeWork's 17th building in the City and was secured soon after WeWork agreed to lease the entire building at 12 Moorgate. The company will lease space across six floors at Lloyd's Avenue to 650 new clients. The company, which was founded in New York in 2010, has more than 400,000 members worldwide.
The new location is due to be opened in the fourth quarter of this year.
WeWork has grown from having 600 tenants, or 'members', in London in 2014 to more than 45,000 today and has plans to open a new 28,000 m2 office development near Waterloo station later this year.
Patrick Nelson, head of EMEA, Real Estate, said: 'I’m pleased to be announcing our 50th location in the capital with 1 Lloyd’s Avenue. Our community is at the heart of what we do, and this building will add numerous opportunities for our members to collaborate and network, especially as it’s situated near other WeWork buildings.
'Lloyd’s Avenue is moments from Fenchurch Street and nearby stations, and I’m certain our members will come to the building to participate in our events and collaborate with other members, from high-growth scale ups to enterprise companies who make up 30 percent of our global membership.'
PropertyEU editor Robin Marriott visited WeWork's Moorgate office at Fore Street for our March issue. Click here to read the full article.