WeWork, a leading provider of co-working space, has opened an office space in Manchester.
Speaking at a BusinessCloud meeting in Manchester in February 2018, Will Lewis of OBI Property said that this was a” game-changer” for Manchester office space.
He described WeWork as “disrupters”, although in a positive sense, meaning office property landlords in Manchester need to respond to this competition. He went on to note that the startup and tech-oriented businesses attracted to the WeWork co-working model are demanding high office standards and facilities.
Michelle Rothwell, founder of property regeneration group Watch This Space, summarised what co-working tenants require:
“Occupiers want personality and the added extras that come along with it which is what we enjoy providing at Watch This Space. Companies want to work alongside like-minded people in environments that help to stimulate growth and focus on the wellbeing of their employees.”
WeWork’s new office space at No. 1 Spitalfields welcomes business of all sizes, from one person set-ups to Fortune 500 companies. WeWork offers the flexibility of short-term agreements and a number of plans, from dedicated desks, guaranteed workspace and private offices, to custom designed workplaces. Amenities include fast broadband, refreshments, communal areas, bike storage and 24-hour access. WeWork members at the new site can use any of the other WeWork office spaces located in 64 world cities.
To compete with co-working companies like WeWork, Manchester landlords need to offer more flexible leases and upgrade their facilities to the high standards many companies demand, and for which they are prepared to pay high rents.