UK Growth Helps Push Knotel’s Global Footprint Over 5M Sq. Ft.
Originally published in Property Week.
Knotel now has 27 locations in London, having launched in the UK capital as recently as April 2018. It ramped up its expansion in the final quarter of last year by adding 107,000 sq ft across five locations including 43,000 sq. ft. at 110 High Holborn and 12,000 sq. ft. at 189 Shaftesbury Avenue.
UK general manager Tom Dugarin said: “The flexible workspace market, though still in its infancy, has experienced significant overall growth this year. By operating in a capital efficient matter, and through our partnerships with owners such as Great Portland Estates, we’ve been able to dramatically increase our presence on the London market.”
Over the last year, Knotel has also expanded into new cities including Los Angeles, Paris, Boston and Dublin.
“Knotel is actively matching the growth of our portfolio with customer demand from the world’s largest companies, and we have built mutually beneficial partnerships with owners around the world,” said Jonathan Goldberg, Knotel’s chief investment officer.
“In Q4 alone, 33% of our global real estate deals were management agreements, which allow us to serve our clients quickly and in a more capital efficient manner while increasing income for our owner partners.”