Wework rival Knotel expands London presence with new City locations
Knotel, the flexible workspace rival to Wework, has snapped up a string of new City locations as it continues to expand its presence in the capital.
Read more: Wework rival Knotel secured unicorn status with $400m fundraising
The New York-based startup has signed an agreement with property developer Great Portland Estates to take over 82,000 square feet of office space at City Place House in Moorgate.
In addition, Knotel has secured four further London locations in St Paul’s, Farringdon, Old Street and Holborn.
“Established high-growth startups and enterprises alike in London have been very receptive to the flexibility of our tailored, on-demand and scalable workplace platform, enabling them to align their property and business needs,” said Tom Dugarin, Knotel’s UK general manager.
“We’re very pleased to continue our expansion in London in partnership with such a high quality landlord as Great Portland Estates at 55 Basinghall Street.”
Knotel, which achieved unicorn status after a funding round last month, has grown rapidly amid booming demand for coworking spaces.
The firm, which is targeted at large businesses rather than startups and freelancers, now has more than 360,000 square feet of space in the UK across more than 22 buildings.
Read more: Wework bond tumbles on delay to stock market float
Knotel will be hoping to take on rival Wework, which yesterday was forced to shelve plans for its stock market float after a frosty reception from investors.
Main image credit: Knotel