JLL advises WeWork on Birmingham acquisition
As 55,000 sq ft taken in the city
JLL’s Birmingham office agency team has advised WeWork on the acquisition of its first space in the city.
WeWork has taken three floors at 55 Colmore Row and will occupy the ground, third and fourth floors of the building. Fit-out will begin within weeks, with plans to be open in the final quarter of the year.
Birmingham becomes the fifth UK city for WeWork to offer space in, following London, Manchester, Cambridge and Edinburgh.
Kelvin Craddock director – Tenant Representation at JLL said: “55 Colmore Row is a prime location for WeWork’s first Birmingham office, and will be the perfect home to welcome their first customers in the city later this year.
“Businesses are gravitating to a more flexible and co-working office spaces, and we expect the quality of WeWork’s offering to be a big hit in Birmingham, as occupiers big and small are attracted to the unique working environment offered.
JLL’s latest research on flexible space shows that the flexible office market has more than doubled in size across Europe since 2014 and is predicted to grow by up to 30 per cent, per year over the next five years.
Mathieu Proust, general manager WeWork UK and Ireland said: “I’m excited to be continuing to grow our presence in the UK – our second largest market worldwide – where we’re home to a flourishing community of over 45,000 members.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.