Malaysia-based asset manager Permodalan Nasional Bhd. signed a deal with WeWork Cos. to lease a more than 130,000-square-foot office and retail building in London to the flexible workspace provider, The Star Online reported.
The two parties agreed to a 20-year lease for the entire office space across eight floors of the prime Aviation House building in the Holborn district. The new deal may lead to the refurbishment of the asset, which was constructed in 1991 and has not been renovated for 20 years, the May 25 report noted.
WeWork operates 24 sites in London so far, with over 26,000 members.
