The world’s biggest industry player WeWork recently received a David Kosky and Elliot Gold, cofounders of Work.LifeFran HalesCoworking is a booming business, with demand continuing to outstrip supply.
Beneath the hospitality element of coworking, it is very much a property business, and without the best locations and the right deals, operators can come unstuck.
The company’s success has been based on a unique partnership-based property strategy for landlords and hospitality-focused offerings for members that has seen it work with some of the U.K.’s largest institutional landlords.
Kosky had previously worked in finance, working for a London based asset management business, while Gold, who’d started his career in management consultancy, had moved to the public sector and the U.K. government’s Start Up Loans scheme.
While most operators were focusing on taking larger amounts of space, potentially impacting property investment values, they focused on smaller locations with ground floor frontage that would enable them to animate landlords’ buildings without impacting investment values.
Kosky says: “We could see that more and more landlords wanted to have flex operators in their buildings.
The adoption of coworking by the larger institutional landlords, looking to operators like Work.Life to animate their buildings and attract bigger, traditional occupiers into the buildings, is becoming a major trend.