WeWork Decides To Not Work On London Expansion

This isn't about Brexit (wink wink).

Just when you thought that Brexit couldn't outdo itself, it goes and makes a wildly aggressive real estate arbitrage tech startup rethink an expansion in jolly ol' London Town.


Per Bloomberg:

The New York-based company won’t proceed with a plan to lease 45,000 square feet (4,180 square meters) at the 7 Westferry Circus building, the people said, asking not to be identified because the matter is private. WeWork has also put on hold less advanced plans to lease space at a building due to be developed at the new phase of Canary Wharf, the people said. It’s the first time WeWork has cancelled a deal in the U.K. capital.

Apparently, sources are telling Bloomberg that Brexit is not a factor in WeWork's decision, but that's seems about as likely as Yahoo's sales price not being affected by Marissa Mayer's management techniques.

WeWork has 111 spaces in 30 cities around the globe and 11 in London. It does not have co-working spaces in Dublin or Frankfurt...yet.

WeWork Cancels Plan for London Canary Wharf Office Space [Bloomberg]