London, United Kingdom – January 17, 2023 – WeWork (NYSE: WE), the leading global flexible space provider, today announced it is expanding its footprint at 123 Buckingham Palace Road situated next to London Victoria station. The company will occupy the building’s fifth floor – boasting 30,000 rentable sq ft – in addition to its existing space on the second and fourth floor, which WeWork has operated since 2018. The expansion, due to open later this year, will meet the unwavering demand from companies, particularly enterprises with large workforces, who continue to seek class-A, flexible workplace solutions in well-connected locations across the capital.
Complementing its existing space in the building, as well as catering to emerging hybrid work trends, WeWork’s new floor will be a dynamic, mixed-use space designed for the modern workforce. From quiet nooks, conference rooms and collaborative spaces, to lounges and dedicated focus areas, the space will be home to companies of all sizes, as well as All Access and On Demand members, who prioritise centrally located workspace that offers functional, flexible and thoughtful design. The new space will boast a roof terrace, floor-to-ceiling windows for an indoor-outdoor effect, and will be flooded with natural light for an elevated office experience.
In 2022, WeWork 123 Buckingham Palace Road was the second most popular location for All Access bookings, behind WeWork’s flagship location at 10 York Road, Waterloo. And over the past year, the company saw WeWork All Access bookings at 123 Buckingham Palace Road increase by 59%*.
Peter Greenspan, Global Head of Real Estate, WeWork – “This expansion underscores the strong demand we’re experiencing from companies who are opting for commute-worthy workspaces that cater to employees’ shifting priorities, as they weigh up travel time with what they want to get out of their office visit. This is a strong indication of how workers are now thinking about the office – our most sought after locations are those within walking distance of major transport hubs, such as 123 Buckingham Palace Road, which is consistently one of our most popular in London.”
*January – November 2022. Due to seasonal work trends, December does not reflect accurate All Access demand.
WeWork (NYSE: WE) was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since then, we’ve become one of the leading global flexible space providers committed to delivering technology-driven turnkey solutions, flexible spaces, and community experiences. For more information about WeWork, please visit us at wework.com.