News • 03/11/2023
RE-DEFINED partners with former WeWork Executive, David Kaiser, to bolster step-in solution for owners of struggling flex workspaces
Partners sign their first deal and have begun operating a 35,000 sq ft building in the City of London.
RE-DEFINED, a MAPP company and integrated flex workspace provider, has announced a partnership with Platformspace, the firm co-headed by David Kaiser, the former head of Real Estate, UK & EMEA at WeWork, and Dan Cohen.
With landlords across the UK being faced with the reality of having to take back the keys of well occupied and highly intensive co-working centres, the new partnership, which brings a combined wealth of expertise and extensive industry connections, will specialise in offering landlords a transparent and accountable solution to rapidly stabilise their asset, ensure the necessary H&S and compliance measures are in place, retain and grow occupancy and take responsibility for the day-to-day running of these operationally demanding workspaces.
By combining the expertise and track record of RE-DEFINED, MAPP and Platformspace, the group will have the resources and scale to assist owners at unit, asset or portfolio level, delivering bespoke strategies that specialise in transitioning assets away from a short-term co-working model towards a more investment-grade unit mix, with a diverse income profile.
Collectively, the team has successfully met the workspace needs of multiple sectors, including specialised life science labs, enterprise grade managed workspaces, serviced offices, creative spaces and podcast & film studios.
RE-DEFINED have signed their first agreement with SRE London at 12 Moorgate, previously let to WeWork, and are in detailed discussions on a number of other buildings in the capital. The building is around 35,000 sq ft and primarily comprises whole-floor fitted and managed units, with a ground and lower ground floor amenity space. The RE-DEFINED and MAPP team will be stepping in to manage the entire asset, with the core strategy being to retain existing occupiers and ensure the building remains compliant and operational during the transition period following WeWork’s exit. At least one occupier has remained in-situ with limited disruption and an immediate new contract is being signed directly with the owner.
Oliver Meyers, Founding Partner at RE-DEFINED, said:
“With this partnership, we have an unparalleled network of landlord relationships which will help us offer our unique and accountable flex product to building owners finding themselves at the mercy of sudden lease withdrawals by struggling co-working operators.”
“In spite of market turbulence, the value that the inclusion of managed space brings to assets is indisputable and the sector is earmarked for strong growth. We are excited to be offering a safe pair of hands to any landlords navigating this tricky period and will support them to transition their flexible workspaces into a commercial success.”
David Kaiser, Founding Partner at Platformspace, said:
“I’m delighted to be joining a team that fuses flex-focused technology and operational capabilities with MAPP’s renowned community building, sustainability and property management credentials. Accountability and transparency will be cornerstones of our offer, enabling us to become a trusted partner for landlords looking to modernise their buildings and broaden their offer to create a flexible range of letting options for today’s increasingly agile businesses.”