Breaking Property News – 30/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.

 

Will Yardi’s multi-million gamble on WeWork the former £37Bn Unicorn pay off?

The word is that Adam Neumann the enfante terrible and former co-founder is unlikely to be the new owner of WeWork as it emerges out of the gloom of its present bankrupt state. Yardi now looks well positioned to become a majority shareholder of the company with a new 60% stake, shored up by an injection of £269m together with capital injected by other parties.

If this restructuring is waived through in late May Softbank would look to hold over 15% of the equity of the phoenix company. But the bigger question I feel is – in a different time and place WeWork was a £37Bn Unicorn, at a time that many companies had hyper-inflated ticket prices.

In some ways Yardi is in so deep that following through with this deal is better than any alternative plan, but there is still a huge mess with regard to landlord liabilities and perhaps more crucially has the world spun on, and is work itself still morphing into a more liquid asset type?

Everyone has to work, but is the WeWork model going to in the next decade be the de facto operating model? I have my doubts, but by June 2024, many stakeholders are going to be pulling out all the stops to ensure it just might be.

 

Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X

Andrew Stanton

CEO & Founder Proptech-PR. Proptech Real Estate Influencer, Executive Editor of Estate Agent Networking. Leading PR consultancy in Proptech & Real Estate.

You May Also Enjoy

Breaking News

First-time buyers get more market town for their money in the Midlands

Leek, West Midlands is the most affordable market town for first-time buyers, at an average £191,359 Immingham, Yorkshire and the Humber most affordable for all buyers, at £176,918 Overall, average house price in market towns now £363,456, up 5% in the last year and 24% in the last five years First-time buyers paying an average…
Read More
Breaking News

Placemaking around rail is a winning blueprint

The Government has announced that around 40,000 new, high-quality homes will be built on surplus railway land, as the Transport Secretary, Heidi Alexander, unlocks brownfield sites across the country for development. Richard Beresford Chief Executive of the National Federation of Builders (NFB), said: “The Government has a chance to set a new standard in placemaking…
Read More
Rightmove logo
Breaking News

Rightmove: Average two-year and five-year fixed mortgage rates now level

Rightmove’s daily mortgage tracker shows that the current average two-year fixed mortgage rate is currently level with the average five-year fixed mortgage rate.   Both the average two-year fixed rate, and five-year fixed rate are currently 4.52% Prior to July 2025, the last time this was the case was in September 2022 before the mini-Budget…
Read More
Breaking News

UK Homemovers Relocating Over 50 Miles

UK Homemovers Now Relocating Over 50 Miles as Buyers Seek Better Value Beyond the City The latest research by GetAgent Exchange, a platform enabling estate agents to monetise out-of-area applicant leads, has found that UK long-distance movers are now relocating an average of 52 miles from their original location, rising to over 80 miles in…
Read More
Breaking News

Beach hut values soar by as much as 100%

The latest research from over-50s property specialists, Regency Living, reveals that it’s not just demand for bricks and mortar that is pushing up house prices in Britain’s most desirable coastal locations, with the average price of a beach hut soaring by as much as 100% in some seaside towns. High cost of coastal homes England’s…
Read More
Breaking News

Revealed: the most lucrative shared living postcodes

New research from COHO, the HMO management platform, reveals that the shared living market in England & Wales generates an estimated monthly rental income of £1.4bn. But which postcode areas are creating the most income from shared living? How much are HMOs making in your postcode? Find out here COHO has analysed the estimated number…
Read More