For all the buzz around WeWork, you could be forgiven for thinking the American giant had invented the concept of flexible offices.
However, London-based Workspace has been quietly providing similar services for years. Its brand may not have WeWork’s cachet, but it has not made WeWork’s eye-watering losses, either.
Workspace operates 64 properties in London housing more than 3,000 different businesses, which typically sign leases of about two years, with an option to leave after six months. Crucially, Workspace owns the freeholds. The company made a pre-tax profit of £137.3m last year.
Flexible office providers thrive in a market where a steady stream of businesses are starting up and growing, but the flexibility that attracts start-ups (not to mention the ubiquitous fake grass and beer