How will sale of LEO affect serviced office valuations?


Sale price of £475m is well below £700m sought two years ago, raising questions about values in the sector.

Queensgate Investments’ sale of the 38-property portfolio comes amid a co-working boom in London; serviced offices are poised to account for 30% to 35% of offices in the capital by 2030, according to flexible workspace adviser The Instant Group, and Japanese tech giant SoftBank is reportedly in talks to plough another $10bn (£7.7bn) into WeWork.

This flurry of activity raises the questions: why did LEO take so long to sell and what does the sale price mean for the valuation of the wider serviced office sector?

This is premium content

You must be logged in to view premium stories.

Gated access promo

Subscribe for full access

Take out a print and online or online only subscription and you will get immediate access to:

  • Breaking industry news as it happens
  • Expert analysis and comment from industry leaders
  • Unlimited access to all stories, including premium content
  • Full access to all our online archive

To get access to premium content subscribe today

Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts

If you are already a registered user or a subscriber you can SIGN IN now