September
Auditors warn WeWork hubs face ‘uncertainty’
Even though the co-working giant’s US parent has emerged from bankruptcy with considerably less debt, its local loss-making operation faces “significant doubt”, its auditors say.
- Nick Lenaghan
July
- Exclusive
- Commercial real estate
Consolidation coming to co-working as Melbourne rivals merge
CreativeCubes, backed by Flight Centre co-founder Geoff Harris, has bought five Melbourne hubs from Workspace365 as it prepares for an offshore assault.
- Larry Schlesinger
June
WeWork’s exit opens opportunity for new co-working hub
The owner of 66 King Street in Sydney’s CBD has taken over the space from WeWork and decided to run his own co-working office there under a belief that he can do it better.
- Campbell Kwan
WeWork has emerged from bankruptcy. What’s next?
The company’s re-emergence from bankruptcy arrives at a time when demand for office space remains weak overall.
- Wyatte Grantham-Philips
May
WeWork’s no-drama new owner pitches turnaround
Low-profile software tycoon Anant Yardi sees “tremendous opportunity” in the co-working business after a turbulent bankruptcy.
- Amelia Pollard and Sujeet Indap
Co-working is moving to the suburbs
With hybrid work the new norm, the industry is betting on sedate suburban and small-town locations where employees of big companies go to escape their homes.
- Justin Fox
Accor readies Melbourne Airport hotel and co-working hub for take-off
The hotel offering of 464 rooms across two Accor brands – a Novotel and ibis Styles – will include a two-level co-working hub when it opens on July 1.
- Larry Schlesinger
April
WeWork cuts new restructuring deal that spurns Adam Neumann
If approved, a restructuring deal will allow the fallen co-working giant exit bankruptcy with less debt and a leaner, less expensive lease portfolio.
- Jonathan Randles and Steven Church
Adam Neumann and partners offer more than $766m for WeWork
The bid adds another dramatic chapter to the saga of the co-working firm and its charismatic founder, the subject of books, podcasts, a television series and a movie.
- Hannah Miller and Crystal Tse
January
Hub operators step up for 2024 after WeWork buckles
Hub Australia is going big with its CBD offerings to compete with major landlords such as Dexus, while others are focusing on the suburbs for safer returns.
- Campbell Kwan
December 2023
Workspace company BE Offices collapses in pandemic aftermath
The London-based office provider entered an administration application, the latest flexible workspace business to fold.
- Sabah Meddings, Lucca de Paoli and Jack Sidders
- Exclusive
- Commercial real estate
Australia’s first venue for exclusive London wine club’s about to open
Developer Ross Pelligra is counting on the country’s inaugural 67 Pall Mall to invigorate his closed 85 Spring Street office building in Melbourne’s CBD.
- Michael Bleby
November 2023
Loan to London building that WeWork rents is for sale at discount
The sale of the loan exposes the fault lines created by soaring interest rates, the steep costs of renovating older buildings and WeWork’s bankruptcy.
- Irene García Pérez, Lucca de Paoli and Libby Cherry
What WeWork’s failure tells us about beanbags in offices
The pandemic burst the illusion that people want to live at work and most companies now have a hybrid work policy, with employees coming to the office far less.
- Pravina Rudra
WeWork’s bankruptcy caps swift downfall for $US47 billion standout
From behemoth to bankruptcy, it’s been a wild ride for a start-up sometimes battered by forces outside its control – lockdowns and a slow return to offices.
- Amelia Pollard, Ellen Huet and Ethan M Steinberg
WeWork saga cost Son $18b – and his credibility
The fall of WeWork has shattered the Japanese billionaire’s standing as a shrewd investor with a legendary VC record.
- Min Jeong Lee
WeWork pledges to keep doors open at local hubs, but cut space
WeWork’s US bankruptcy filing is the latest move in its efforts to stay afloat as it juggles heavy debt and rental obligations with weakening demand for office space.
- Nick Lenaghan
WeWork files for bankruptcy amid office market downturn
The flexible-office-space venture, valued at $US47 billion at its peak, is facing the consequences of excessive expansion that left it with unprofitable leases.
- Updated
- Sujeet Indap and Eric Platt
October 2023
WeWork to close two Sydney offices
The company, which leases out flexible and short-term space it secures on long-term contracts, is being crunched by reduced office demand.
- Michael Bleby, Campbell Kwan and Mark Di Stefano
August 2023
Move aside WeWork, start-ups are making their own share offices
Businesses are coming together to create DIY co-working spaces, which function similarly to that of flatmates living together.
- Campbell Kwan