WeWork’s Collapse Will Cause Massive Losses In The U.K. And Australia, Too
Allwork
SEPTEMBER 2, 2023
The City of London has the densest concentration of coworking locations anywhere in the world. In Australia, WeWork is reported to have leased 15 locations totaling 100,000 sq. m. (equivalent to around 350,000 sq. ft.), with leases as long as 15 years. The outstanding rent commitments for the remaining life of these leases is an estimated £3 billion sterling for the U.K. market and A$900 million in Australia.
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