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Sector
Financials
Size
Large Cap
Market Cap £6.56bn
Enterprise Value £10.33bn
Revenue £757.0m
Position in Universe 137th / 1849

Fitch Ratings: EMEA Rated REITs' Limited Exposure to WeWork-type Flexi-Offices

Tue 20th August, 2019 3:29pm
(The following statement was released by the rating agency) Fitch Ratings-London-August 20: European office property companies that we rate have a low exposure to WeWork or other specialised flexi-office providers, Fitch Ratings says. This limits their risks as we expect these third-party space providers to promptly negotiate their rents in case of a property market downturn, more so than other renters. Some real estate investment trusts (REITs) develop their own flexi-office propositions, which allow them to meet growing demand and gain a greater control over terms and tenant relationships. By way of illustration, flexible-office providers in London accounted for over 15% of central London office space take-up in 2017 and 2018. About 5% of total office space in London is let to flexi-office providers.