Flexible workspace provider Hubflow has acquired the freehold of its flagship site at 37 Lombard Street as it pursues an owner-operator expansion strategy in London.
The company has also confirmed plans to open more than 25,000 sq ft of workspace across two further City locations next month.
The new sites at 60 New Broad Street and 71 Queen Victoria Street will expand Hubflow’s central London portfolio, with additional acquisitions under consideration.
The 37 Lombard Street transaction was completed through a dedicated investment vehicle established with Hubflow’s investment partners. Financial terms were not disclosed.
OWNER-OPERATOR STRATEGY
The Lombard Street building provides self-contained flexible offices for teams of up to 30 people, alongside coworking areas and meeting rooms.
Rather than relying solely on leases, Hubflow intends to acquire selected properties in established London business districts while continuing to operate and expand its flexible workspace business.
The company believes combining property ownership with workspace operations will provide greater control over its buildings and create longer-term value for customers and investors.
Its expansion reflects confidence in demand for premium, hospitality-led offices as occupiers increasingly seek flexible agreements, higher-quality facilities and improved employee experiences.
“Building for the longer term.”
Gary McCausland, CEO of Hubflow, says: “This acquisition marks a significant milestone in our strategy. For many years, operators have focused on leasing buildings, but we believe the future lies in combining exceptional operations with selective ownership of outstanding real estate.
“We are building a business for the long term, investing in landmark buildings, creating exceptional workplaces and establishing a portfolio that delivers lasting value for our customers, our investors and the cities in which we operate.
“London remains one of the world’s greatest business destinations. We have tremendous confidence in its future, and we intend to continue investing in the very best locations across the capital.
“The acquisition and our two new sites are important steps towards our ambition of creating one of the UK’s leading premium flexible workspace businesses.”
Hubflow is continuing to assess further acquisition opportunities across central London as it grows both its operational estate and property investment portfolio.
