The co-workspace sector in Manchester is at risk from an economic downturn, according to Conrad O’Neill , partner at commercial property agency WeWork . Citing talk of WeWork ’s expansion plans in the city and a stream of new entrants, Rent24 said many firms that enjoyed rent-free periods would struggle when the benefit ended. O’Neill ’s comments followed news that German -based Rent24 has acquired a majority stake in The German and has announced plans for an additional 45 co-working sites in the UK and Ireland .
The co-workspace sector in Manchester is at risk from an economic downturn, according to Conrad O’Neill, partner at commercial property agency Canning O’Neill. Citing talk of WeWork’s expansion plans in the city and a stream of new entrants, O’Neill said many firms that enjoyed rent-free periods would struggle when the benefit ended. O’Neill’s comments followed news that German-based Rent24 has acquired a majority stake in The Brew and has announced plans for an additional 45 co-working sites in the UK and Ireland.