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How will flexible workspace grow in Birmingham? Through smaller hubs with landlord-partnered operational agreements, if an agreement between landlord Hines and flexible workspace provider x+why is a guide.
The deal, which replaces a previous arrangement with WeWork for the same building, marks a new phase in the city’s serviced office market. Long-term leases of the kind WeWork signed are out, and landlord-funded operational agreements are in.
X+why will open its first out-of-London hub after the signing with Hines, operating from the 40K SF first, second and third floors at 6 Brindleyplace, Birmingham.
As part of the agreement, Hines and x+why will invest jointly in the new facility, which will provide space for hot desking and private offices.
X+why currently operates four locations in London: Chiswick, Spitalfields, Midtown and Whitechapel.
A fit-out of the new facility will begin shortly and is scheduled to open for the first time at the start of 2022.
The arrival comes a year after WeWork scaled back its plans for Birmingham, leaving it with just one hub at 55 Colmore Row.
WeWork signed up for 97K SF at 6 Brindleyplace in June 2019 but just over a year later moved its members to the 55K SF hub at 55 Colmore Row. It also abandoned plans to convert Louise Ryland House into a third 81K SF Birmingham outlet.
“We have seen increasing demand for flexible workspaces from companies of all shapes and sizes, particularly since the onset of Covid-19 as companies readjust and plan ahead for the future of their working environments," Hines Managing Director for Asset Management Raj Rajput said. "Our Tailored Workplaces offer at Brindleyplace has seen huge interest, and having x+why here will complement our other occupiers."
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