Coworking – London Market 2016Presented by Pier Paolo Mucelli @ Social Workplace

Coworking: Open Plan / Event Spaces / Services / Networking

Coworking in London: Evolution/History

eOffice Soho opens 6,000 sq.ft. in heart of Soho in April 2002The Hub opens at Angel in 2005More independent operators open ‘08Workspace Group launches Club Workspace in 2010The Office Group launches ClubRooms in 2011Canary Wharf launches Level 39 in 2013SohoHouse opens SohoWorks in 2014WeWork opens first London centre in Soho in 2015Regus buys Spaces (NL) and opens in Oxford Street in 2015MarkTech Holdings (Camden Town) launches Interchange 2015 (84k sq.ft.)

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1. Public Spaces / Hotels / Coffee Places / Transport Hubs

British Library (and Biz & IP Centre)University Incubators/Accelerators

- London City Incubator- Imperial Incubator (22,000 sq.f.) - Accelerator London in Shoreditch (London Metropolitan)

Innovation Centres- Digital Entreprise Greenwich (21,000 sq.f.)- London BioScience Innovation Centre

Hoxton Hotel – (Holborn-Shoreditch)Club Zetter by Zetter HotelTimberYard (3 locations)Train Stations (The Office Group)Airport Lounges (Regus)

2: Member’s Clubs / Business ClubsSoho House / Shoreditch House (’96-’10)

Mixed concept / Leisure/Business. Launches SohoWorksThe Hospital Club (2002)

Contemporary, media focused, Covent GardenOne Alfred Place (2010)

10,000 sq.f. in West EndThe ClubHouse (2012)

10,000 sq.f. in Mayfair x 212 Hay Hill (2014)

MayfairClub Café’ Royal (2015)

Part of Hotel, PiccadillyNeueHouse (2016-2017)

From New York, opening end of year in LondonAnd many more… around 50 clubs in Central London

3: Tech Corporate / AcceleratorsMozilla Spaces (2012)

10,000 sq.f. in Covent GardenGoogle Campus (2012)

25,000 sq.f. in East LondonTelefonica – Wayra (2012)

10,000 sq.f in West EndCisco – Idea London (2014)

In TechCity with UCLMicrosoft Venture (2014)

In collaboration with Central WorkingAccelerate Places (Hammersmith) by VC Blenheim Chalcot (2015)Rocket Internet – Oxford StreetFounders Factory – Kensington – 200 startupsCoocon Network - China

70,000 sq.f. of flexible office space in 2017

4: Property Companies/Landlords

Level 39 (Canary Wharf). 20,000 sq.f. of flexible office space for Fin Tech market, in the heart of Canary Wharf. Expanded to additional 2 floors, now 80,000 sq.ft.

Market Tech (Camden Town). Launched Interchange and 2 other coworking spaces in Camden Town, 84,000 sq.ft.

Workspace Group - Club Workspace (2012). 16 coworking spaces

Brockton Capital – Launching coworking spaces in 4/5 of their buildings in 2017 (30,000/50,000 sq.ft)

5: Business Centres / Services offices extension

Regus – Lounges (2010)Street Level lounge concept in Berkeley Square (rolling out in other cities too). Acquired SPACES (opened in Oxford Street in 2015)

The Office Group - ClubRooms (2011)Opening coworking space in several of their buildings

Pavillon (2011)Boutique high quality serviced office (3 centres), with coworking element

Servcorp (2014)Entered London in 2012 and introduced lounge/coworkingelement

WeWork (in London 2015)Entered London in 2015 and opened 10 centres in 15 months

6: Independent Coworking OperatorseOffice (2002) First coworking space in Europe (Soho) 4 spacesThe Hub (2005, 2008, 2011) Social focus 3 spacesThe Trampery (2009) in East London, media focus 4 spacesTechHub (2011) Tech focus (Hoxton Mix (2010) Tech, East London, 3 spacesTechSpace (2012) - 4 spacesInnovation Warehouse (2011) 10,000 sq.f. ClerkenwellCentral Working (2012) Lounge, F+D, MR, West End, E. LondonCo-Work (2011) 6 spacesHuckletree (2013) 2 spacesHeadSpace (2013) 2 spacesRainmaking Loft (2013) 1 Space in C.LondonSecond Home (2014) 1 space in East LondonRunway East (2015) 1 Space C LondonWork-Life (2015) 2 spacesThe Collective (2014) 3 spacesAnd many more (+150 coworking spaces now in London, +100 independent

Recent Funding in the Sector

[ IN THE UK ]The Office Group: £43million (2010)Second Home: £6 million (2014)Huckletree: £2.4 million (2015)The ClubHouse: £1 million (2015)TechSpace: +£1 million (2016)

[ IN THE USA]WeWork: USD 1.4 billionGalvanize: USD 18 million (2014)Serendipity Labs: USD 8.5m (2015)NeueHouse: USD 25m (2015)

Some Trends

Landlords launching their own coworking concepts or collaborating with operatorsWeWork opening very large centres in a record time in key world citiesImportance of the brandLarge operators: +10,000 sq.ft. spacesMore funding in the sectorBuyers market (more and more options for clients)Dependence on startups / tech market – bubble?East London now expensive, new areas like South/North/West London emergingNew business models, online providers/surplus space/residential coworking (Vrumi…)Cowork / CoLiving