Editor: The sad saga of WeWork is a shame.
WeWork has changed the office market for the better, forcing property owners to up their games.
Office buildings are better as a result of the innovation, design and energy that serviced office providers such as WeWork, The Office Group and IWG have brought to the commercial office market.
Walking into the new WeWork in Waterloo only a few weeks ago, I felt as though I was in communist utopian commune – everything was provided. The world was a happy, colourful place – a bit like a future Labour government (please no).
Sadly – as anyone is taught from a young age – if you spend way more than you earn, the party eventually stops.
WeWork has fantastic cashflow – once restructured, it should come back. Or landlords will benefit from the hundreds or thousands of tenants who will need space as a result of the difficulties.
Interesting times ahead.
Ross Freedman, director, Lonic