Major property companies and investors are increasingly backing co-working office ventures, as the valuation of new firms specialising in that market increases. The number of people who work from home has risen by more than a third since 2010, according to research firm IBISWorld. Private equity company Blackstone Group bought British co-working firm The Office Group last year, valuing it at £500m. Firms simply lease big blocks of space from landlords and subdivide it for smaller tenants and provide a range of office services. The continuing success of start-up WeWork is also driving many landlords to negotiate deals to lease space to the company.
Major property companies and investors are increasingly backing co-working office ventures, as the valuation of new firms specialising in that market increases. The number of people who work from home has risen by more than a third since 2010, according to research firm IBISWorld. Private equity company Blackstone Group bought British co-working firm The Office Group last year, valuing it at £500m. The continuing success of start-up WeWork is also driving many landlords to negotiate deals to lease space to the company.