The Office Group (TOG) and Fora have agreed a merger with the aim of becoming the premier flexible workspace company in the UK and Europe.
While the financial details of the deal have not been disclosed, the combined group will comprise 72 premier locations totalling 3.1m sq ft across London, Cambridge, Oxford, Reading, Bristol, Leeds, Berlin, Frankfurt, and Hamburg.
The enlarged group also has plans to expand into other European cities.
TOG co-founder Olly Olsen will become executive chairman, Fora co-founder Enrico Sanna will be chief executive, while TOG’s Charlie Green will become president. Katrina Larkin will be chief environment, social and governance officer.
Current TOG and Fora tenants include bp, GSK, Ocado, AMC, Adobe, British Fashion Council, Tortoise Media, among many others.
Olsen said: “The strong strategic and cultural fit between our two businesses and the supportive market dynamics, as more businesses embrace flexible working, make this merger an exciting proposition.
“We have seen a clear and growing need from corporates for better quality environments, with great amenities, beautiful design and that are easily accessible. The combination of our businesses would ensure that we are best placed to meet this growth opportunity in both the UK and Europe, offering existing and potential members even greater choice.”
Sanna added: “The combined portfolio of TOG and Fora will meet this need and evolving expectations, offering high quality and flexible locations that are design-led, with a range of services and amenities that are conducive to enhanced employee and business performance.”
Property Week (David Parsley) - https://www.propertyweek.com/finance/tog-and-fora-reveal-merger/5119395.article