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WeWork doubling down on UK expansion

WeWork Cos.' executive vice president of real estate, Patrick Nelson, told Property Week that the company plans to double the size of its U.K. business in 2018 and double it again in 2019.

The coworking space provider has 19 locations in London and another 10 in the works.

Over the past month the company has leased more than 380,000 square feet of space across four schemes in London, Property Week said. It recently opened its first regional office in Manchester.

The publication said WeWork's space take-up strategy has shifted from leasing to outright acquisitions of buildings. The company agreed to buy three London office locations in 2017, and Nelson did not rule out further purchases, the report noted.