News

'World's largest' co-working space to open in London

29 Sep 2015 by Jenny Southan

Located in Moorgate, WeWork's serviced office will span eight floors, with capacity for 3,100 members.

The co-working space will open in November at 1 Fore Street, making it the fourth property in London from the US company. There are also WeWork sites on the South Bank, at Aldgate Tower and in Spitalfields.

The 15,420 sqm Moorgate location will feature breakout-areas with bean-bag chairs and hammocks, comfortable lounges for meetings, communal working and dining areas, private phone booths, bike storage and showers.

It is designed for startups and entrepreneurs who need a hot desk or office but also an environment that helps them make connections, receive mentoring and find investors.

WeWork says: “The overriding ideal is that members collaborate. A member can use any WeWork space in the world, access an internal social network of 30,000 individuals, attend bespoke social events and top it up with unlimited free beer.”

Member companies include Amazon, SkyScanner, SoundCloud, KPMG and Farfetch.

According to WeWork, more than 30 per cent of its members have done business together, and its international sites (it has more than 50 co-working spaces in 16 cities in four countries) also serve as a handy base for business travellers.

Commons membership starts at £30 a day for access to the facilities, while Full-Time membership is divided between desks (starting at £325 per month) and large private offices (starting at £650 per month).

Rates include wifi, cleaning, payment processing, IT support, payroll, legal support, web hosting and cloud storage, as well as access to daily activities such as “lunch and learns”, one-on-one business mentoring, yoga and meditation classes, technology talks, life coaching sessions and wine tastings.

WeWork was founded by Adam Neumann and Miguel McKelvey in 2010. The company is estimated to be worth US$10 billion with 700 employees worldwide.

wework.com

Jenny Southan

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