Member Article

Knotel Leases second major tranche of London office space in less than a month

Company acquires a further 62,029 square feet across five locations in the Capital

London 2 November 2018: The fastest growing flexible office provider, Knotel, has signed another series of lease agreements in Central London totaling 62,029 sq. ft in five locations, including Baker Street and Tottenham Court Road.

The new London office agreements include a 14,075 sq. ft space across the first two floors of a Baker Street property, 7,430 sq. ft across two floors on Great Titchfield Street, and 9051 sq. ft in St John Street Gardens, spread across three floors.

Knotel is also leasing a huge 23,078 sq. ft on a single floor of a building in New Cavendish Street and an 8395 sq. ft space on one floor in Tottenham Court Road. Knotel’s latest deals follow hot on the heels of an announcement last month that it has closed a $60 million round of funding, bringing the company’s total backing to $160 million. The latest funding round was led by Norwest Venture Partners, whose Managing Partner Jeff Crowe took a seat on Knotel’s board as part of the deal.

Amol Sarva, co-founder and CEO of Knotel said: “Our fulfillment of our promise to be in even more London locations before the year was out shows we’re serious about the UK market. Data shows that the UK has the largest share of the global flexible office market, a market that is currently at an inflection point and is set to take off in the next few years. We intend to be at the forefront of that growth in key cities such as London and beyond.”

This continued acceleration of growth means Knotel now operates in 100 locations in New York, San Francisco, London and Berlin, and has more than doubled its real estate footprint in the past six months to a current total of over 1.7 million square feet. The company is on track to exceed $100 million in revenue run rate by year end with mature locations operating at 90% occupancy.

This was posted in Bdaily's Members' News section by Maria Loupa .