ThisWeekIn Coworking

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βœ… Future of Flex Survey (closes this week)
The Instant Group’s “Future of Flex” survey will close this week. Share your thoughts on the current Expand πŸ‘‡ state of the flexible workspace market. From the good to the bad and even the brilliant, your insights are critical. All feedback matters, is anonymous, and will help inform future strategies for the industry’s success.
πŸ—ž Week 34, 2023
πŸ”— Direct Link
πŸ“ˆ Data
⏱ 29 days ago.
πŸ‡ΈπŸ‡ͺ Swedish booking platform acquired
The Instant Group shares that they’ve acquired, the Swedish booking platform that has Expand πŸ‘‡ delivered 250M SEK in annual lease value to flex space operators.
_Now the release does note that yta would be part of Instant, but I assume they mean that it would be be rolled into the Worka group of booking platforms following the Instant + IWG Digital merger we’ve been tracking._
πŸ—ž Week 28, 2023
πŸ”— Direct Link
🀝 Market Moves
⏱ 71 days ago.
🌏 APAC flex group doubles size through M&A and partnerships
Chris Edwards shared that The Flexi Group have doubled in size in Singapore and Australia. The Expand πŸ‘‡ former is through the acquisition of two former Found8 sites, and the latter was through a partnership with Aussie developers like Hirsch & Faigen.
πŸ—ž Week 25, 2023
πŸ”— Direct Link
🀝 Market Moves
⏱ 92 days ago.
πŸ–οΈ Demand for flex in LA county still recovering
In a new data-set shared by The Instant Group. demand for flex space in LA County is up 6% in Q1/23 Expand πŸ‘‡ from the previous quarter, following a 9% drop in year of 2022 vs 2021.
Also noted was a dip in achieved workstation rate (cost-per-desk-per-month) dipped 9% since last quarter, after an annual increase of 7% in 2022. 85% of reported demand was for space for under 9 desks, with the remainder of inquiries were for up to 25 desks. Supply was also up 1%.
πŸ—ž Week 23, 2023
πŸ”— Direct Link
πŸ“ˆ Data
⏱ 106 days ago.
πŸ‡²πŸ‡Ύ APAC network prepares for Nasdaq listing
Emissary Capital shares that Common Ground is exploring an IPO on the Nasdaq as part of The Flexi Expand πŸ‘‡ Group.
Great to also get some insights from Erman Akinci and Juhn Teo about their journey building one of the largest coworking businesses in Asia.
πŸ—ž Week 21, 2023
πŸ”— Direct Link
🀝 Market Moves
⏱ 120 days ago.
πŸ‡¦πŸ‡Ί APAC network shares new Melbourne location
The Flexi Group shared a first look at The Hive – the newest space to join their Australian Expand πŸ‘‡ portfolio in Melbourne, in partnership with Hirsch & Faigen.
Who are Flexi Group? You may remember that I introduced them back in week 49, 2022 through a 3-way merger.
πŸ—ž Week 19, 2023
πŸ”— Direct Link
🀝 Market Moves
⏱ 134 days ago.
πŸ‡¬πŸ‡§ Flex occupancy hits 83% in UK
According to latest research by The Instant Group, flexible workspace locations in the UK achieved Expand πŸ‘‡ their highest ever occupancy levels, with overall occupancy at 83% and nearly half (42%) of spaces reporting 90% occupancy.
In the core UK cities of Birmingham, Manchester, Leeds, Bristol and Edinburgh flex vacancy rates have dropped between Q4 2021 and Q4 2022. While traditional office vacancy rates have increased in the same time period.
πŸ—ž Week 19, 2023
πŸ”— Direct Link
πŸ“ˆ Data
⏱ 134 days ago.
πŸ‡¨πŸ‡¦ Flex space demand, rates and occupancy all up in Toronto
The Instant Group share that flex space demand in Toronto is up 27% in 2022 over 2021. Broken down Expand πŸ‘‡ further requests for 1-2 desks was up 21%, 3-9 desks up 51%, 9-25 desks up 2% and 25+ desks up 47%. Following this demand, rates have gone up 8% YoY (year-on-year).
πŸ—ž Week 09, 2023
πŸ”— Direct Link
πŸ“ˆ Data
⏱ 204 days ago.
🌏 APAC consolidation continues with triple merger
A new APAC coworking brand Flexi Group announced a merger of The Hive, Common Ground and The Cluster Expand πŸ‘‡ under one umbrella. The combined group has 45 locations across Hong Kong, Singapore, Malaysia, Australia, Thailand, Taiwan, Vietnam, Philippines and Japan.
The firm, lead by Chris Edwards, is backed by cash from Singapore-based Catcha Group and Malaysia’s Emissary Capital.
πŸ—ž Week 49, 2022
πŸ”— Direct Link
🀝 Market Moves
⏱ 288 days ago.
πŸ‘ Landlord rolls out flex office program across Atlanta portfolio.
Brendan McGee announces his next chapter and that CP Group would be rolling out their own worCPlaces Expand πŸ‘‡ offerings across their Atlanta portfolio.
πŸ—ž Week 36, 2022
πŸ”— Direct Link
🀝 Market Moves
⏱ 379 days ago.
🌏 APAC ‘super group’ forms through merger
Under The Flexi Group, three brands (Common Ground from Malaysia, The Hive from Hong Kong and The Expand πŸ‘‡ Cluster from Australia) will come under one umbrella to boast 45 locations in 12 cities and nine countries in the Asia-Pacific region.
The brands will continue to run independently.
πŸ—ž Week 33, 2022
πŸ”— Direct Link
🀝 Market Moves
⏱ 400 days ago.
πŸ’¬ Steps operators are taking to meet the changing needs from flex
A panel of flexible workspace experts discussed what steps operators are taking to meet the changing Expand πŸ‘‡ needs of occupiers as we emerge from the pandemic.
On the panel were Jules Barker (WiredScore), Niki Fuchs (Office Space in Town), Natasha Morris (Landsec and Myo), Paul Orrock (Yardi), John Williams (The Instant Group), Jack Williamson (Workthere) and was chaired by Simon Creasey (Property Week).
Topics discussed: flex demand bouncing back, types of demand, ESG, technology, and the future of flex.
πŸ—ž Week 17, 2022
πŸ”— Direct Link
πŸ“° News & Views
⏱ 512 days ago.
πŸ‡ΊπŸ‡Έ Flex workspace demand is up 58%
Joe Brady from The Instant Group shares that the firm’s latest US Flexible Workspace Report has been Expand πŸ‘‡ released (behind an email-gate unfortunately) but does highlight some takeaways.
Miami bump in demand leads the rest at +143%, NYC and Chicago have yet to fully recover, new hubs like Tampa and Houston emerging and outpacing traditional hotspots. This shift is attributed to business migration, amplified by the pandemic.
πŸ—ž Week 15, 2022
πŸ”— Direct Link
πŸ“ˆ Data
⏱ 526 days ago.
πŸ‡­πŸ‡° New partnership brings 17k sqft space to Hong Kong
Kingsley Yu shares that real estate firm Chinachem Group and coworking space operator the Hive Hong Expand πŸ‘‡ Kong have launched a new 17,000sqft space through a partnership.
Some interesting insights from the story are that the group is funding the entire project investment, renovation work, as well as operating expenses of the space, and the operator (who run 21 locations across 7 countries in the Asia Pacific) will manage the day-to-day operations of the business and provide members with access to their other locations.
πŸ—ž Week 12, 2022
πŸ”— Direct Link
🀝 Market Moves
⏱ 548 days ago.
πŸ‡¬πŸ‡§ Merger to create 3.1M sqft flex office space provider.
CityAM shares that The Office Group and Fora plan to merge in a bid to become “the premier flexible Expand πŸ‘‡ workspace company in the UK and Europe”.
Although the deal still needs to get regulatory approval, the merger would combine 72 locations into one portfolio. No financial terms have been announced but Olly Olsen will become exec chairman and Enrico Sanna will become CEO of merged entity. Charlie Green will become president and oversee real estate & Katrina Larkin will be chief environment, social and governance officer.
πŸ—ž Week 11, 2022

🀝 Market Moves
⏱ 554 days ago.

πŸ”— IWG and Instant merge digital assets
The Instant Group and IWG announced an interesting investment-slash-acquisition-slash-merger this Expand πŸ‘‡ week. I break down the deal a bit here, but in short: Instant will continue to be run independently, a bunch of IWGers will move over, Β£320M ($421M) are being invested/paid to exiting stakeholders, IWG will transfer management of EasyOffices(.com), Meetingo(.com), Rovva and Worka to Instant, and there’s a plan to IPO the merged entity in 2023.
Quite fascinating! The distribution and discovery side of coworking is definitely getting interesting.
πŸ—ž Week 10, 2022

🀝 Market Moves
⏱ 561 days ago.

About TWIC

ThisWeekInCoworking.comΒ (TWIC) is a weekly newsletter summarizing the coworking celebrations, stories, market moves, tech updates and discussions you may have missed.

Newsletters are curated byΒ Hector KolonasΒ and made available for free via email or this website.

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