Hubflow acquires 37 Lombard Street as it expands London office portfolio

Flexible workspace provider Hubflow has acquired the freehold of its 37 Lombard Street site in the City of London as part of a strategy to combine workspace operations with ownership of the properties it occupies. The company has also confirmed plans to open more than 25,000 sq ft of additional flexible workspace across two central London locations, at 60 New Broad Street and 71 Queen Victoria Street, next month. Hubflow said the acquisition of 37 Lombard Street represents the next stage of its London office expansion strategy and a move towards an owner-operator model that differs from the lease-based approach adopted by many flexible workspace providers.

The Lombard Street building, which Hubflow already operates as its flagship location, provides self-contained offices for teams of up to 30 people alongside coworking facilities and meeting rooms. The freehold has been acquired through a dedicated investment vehicle established with Hubflow’s investment partners. The company said the structure would provide long-term capital for further expansion.

Hubflow is now considering further property acquisitions across central London as it looks to increase both the number of workspaces it operates and the real estate assets it owns. The strategy comes as flexible workspace operators seek to capitalise on changes in corporate occupier requirements following the widespread adoption of hybrid working. Hubflow is targeting the premium end of the market, betting that demand for higher-quality, hospitality-led flexible space will continue to grow.

Chief executive Gary McCausland said the Lombard Street deal was “a significant milestone” for the business and reflected its belief that combining workspace operations with selective property ownership could provide a stronger long-term model. “For many years, operators have focused on leasing buildings, but we believe the future lies in combining exceptional operations with selective ownership of outstanding real estate,” he said. McCausland added that the company remained confident in the prospects for London’s office market and intended to continue investing in locations across the capital.

The acquisition and openings at New Broad Street and Queen Victoria Street form part of Hubflow’s stated ambition to build one of the UK’s leading premium flexible workspace businesses, with further central London acquisition opportunities currently under consideration.

I can also make this more like a Workplace Insight news story, with a sharper intro and more context around the flex-office and London property markets.