International real estate advisor Savills today announced the launch of Workthere in the U.S. Workthere combines a website listing technology (workthere.com) with specialized brokerage service that helps businesses find flexible, coworking and serviced office space around the world.
A completely free tool and service for occupiers, Workthere enables any business or individual to search for space, compare options and shortlist those they would like to tour. Local experts then provide the occupier with personalized advisory and negotiate pricing and terms on their behalf. Workthere covers the entire flexible workspace market, including well-known brands such as WeWork, Regus and Servcorp, as well as local and regional operators and niche spaces such as labs and incubators.
Workthere first launched in the U.K. in 2017 and has now expanded to seven countries globally, with local teams to service clients in Singapore, Germany, France, Ireland and The Netherlands. As the largest coworking and flexible office market, New York is the first U.S. city to launch Workthere, which will be rolled out to other cities throughout the year. The U.S. Workthere team is led by Dom Harding, head of Workthere Americas, and Ted Skirbunt, director of Workthere Americas.
Patrick McGrath, chief information officer and head of client technologies at Savills Studley, comments: “This is an exciting development that complements Savills continuing evolution as an industry leader in technology and innovation, proactively adapting to shifts in global occupier trends. Workthere provides a unique offering, with the capability to advise any business on their workspace requirements, from an individual looking to acquire a coworking desk or a global business seeking project space or expansion to a new territory.”
Workthere has already helped a variety of U.S. businesses establish a presence in London and Europe, including RX Bar, White Opps and Harman International.
Coworking costs in New York are among the highest in the world, driven by incredibly high demand from occupiers. According to Savills 2019 Tech Cities report, the average coworking cost for a desk in a private office in New York City is $950 per month, surpassed in the U.S. only by Boston ($970) and San Francisco ($1,050), where the supply-demand imbalance is more acute.
Cal Lee, global head of Workthere, adds: “We are witnessing a new era of disruption in corporate real estate. Demand for flexible office space continues to grow globally and we are thrilled to launch Workthere in the U.S. Our ambition is to be the go-to brand for any business looking for flexible workspace around the world. With local experts on the ground in each city as well as a leading listing platform and the data and insight that provides, we are even better positioned to deliver the very best service to our growing client base.”
Harding noted: “Flexible workspace occupiers face more choices than ever before, driving the need for a tech platform and advisory service to help them navigate a new, complex and rapidly diversifying market. Workthere fills this void, helping companies find the right space and negotiate solutions that enable their businesses to thrive.”