Coworking isn't just a phenomenon that is growing in capitals and larger cities, but rather a trend that seems to be working it's way across all of Sweden and and all types of buildings. DoSpace has since it's inception in 2017 established itself as a strong leader in regional cities across Sweden, totaling 9 open sites in Linköping, Norrköping, Jönköping, Gävle and Örebro and with 3 more locations in the works. In todays interview we meet Niclas Söör, founder and CEO of Dospace, to talk about their vision of giving all companies access to a great office.

As our digital interview starts, Niclas appears on my screen in a vibrantly yellow phone booth. It's looks playful, yet professional. Drottningen, DoSpace first space in Gävle, is his place of work for the day. Niclas is in Gävle for a short two day stint. As you can imagine, running a coworking business that focuses regional cities requires quite a bit of travel.

The origin of DoSpace

Niclas tells me that the idea for DoSpace originated from his time spent in Linköping Science Park during his studies at Linköping University (note: we actually studied there at the same time, the Science Park was a pretty sweet spot to hang out in). While doing some extra work in the Science Park, he was given a glance at what the office industry looks like. As a millennial having grown up with a plethora of plug and play services such as Spotify, Niclas explains that the idea of leasing a space and having to set everything up yourself was a foreign concept.

At the same time, Niclas was nearing the end of his studies and had his mind set on looking for a job at one of the larger engineering companies. Through his work in the Science Park Niclas instead met many smaller companies and liked the idea of being part of a smaller team. There was one problem - Niclas felt like he would be giving up a lot of nice perks such as an awesome office, lots of colleagues, and every day nice-to-haves like an AW.

All of the above was the seed to the quite simple concept - why shouldn't all companies, regardless of their size or resources - be able to have a nice office? A great office shouldn't be reserved for enterprises, and it shouldn't be hard. From that seed DoSpace was born, and the mission to spread access to great offices to SME's across Sweden.

DoSpace is all about the office experience

We continue to talk about what makes a great office and touch on the topic of how lease term flexibility has long been a key driver and a primary talking point for the industry. Niclas argues, which I tend to agree with, that even though they offer flexibility, their key goal and reason for being is to level up the office experience and offer something that the business themselves can't create. He makes the point that the moat for offering shorter lease terms is quite low for property owners, but creating a great product is an entirely different enterprise.

One great example of how DoSpace puts this into practice is the reason for his current visit to Gävle; he's onboarding DoSpace first Chief Experience Officer, Mia Langborg. Much like a software company spends time on their user experience, designing websites or apps that are easy and great to use, a coworking space needs to dig deep on the overall experience of their sites and how their tenants interact with it. Mia will have a holistic responsibility set that spans across the entire office experience, making sure that someone is putting thought and effort into making sure it all works together.

For Niclas, creating a great product is a balancing act that weighs the importance of the space itself, the service, and the community itself. They focus their efforts on being reasonably good within all 3 instead of going all in on one. It's really all about the details Niclas says, like how the digital experience combines with the physical experience in for example hygiene factors such as accessing the space and booking meeting rooms. In the end the approach is similar to that of the hospitality industry who long have realised that it's the sum of all the small details that make the experience.

A typical DoSpace site, as they call it, is built primarily to cater to private offices which is 85% of their customer base. The typical client is a regional team that leases 5 to 10 desks, have roughly 10 employees in the city, and a presence across all of Sweden.

Catering to larger teams through memberships and partnerships

As Nordic Coworking focuses this fall on the ever continuing expansion of the coworking market towards larger clients, Niclas and I talk about how DoSpace is tackling the enterprise game. On DoSpace's website they showcase a success story with the consulting company Castra as a part of their Enterprise Membership offering. They also have an upcoming project together with property owner Mannersons that specifically targets leasing out fully serviced larger offices.

Niclas tells me that their foray into offering larger solutions has been entirely market driven. The business segment isn't large, consisting of only a handful clients, but enquiries are coming in from the market and growing larger over time. Seeing as many of DoSpace clients have regional teams across the country and oftentimes traveling salespeople, offering access to a network of offices across different cities can provide real value. With that being said, Niclas admits that even DoSpace network of offices is still too small to really tap into that potential market.

Castra is such an example of a client that has bought memberships allowing almost 100 employees full access to DoSpace sites. They started out with a small office for a regional team, grew within DoSpace and placed their regional headquarters there, and finally expanded to offering all employees/consultants memberships.

Another exciting venture is Jungfrun, a collaboration project with Mannersons fastigheter that goes live in Norrköping next year. The premise is that DoSpace will establish a coworking space as usual in the property, but also work together with Mannersons to lease out half or full floors (30 or 60 desks), fully serviced but with traditional leases. The offices will be available to rent with or without furniture and services, and access to the coworking space is included in the lease.

The takeaway that I thought was most interesting is not the space itself but rather the philosophy behind the product. Niclas tells me that DoSpace will be the sole client facing entity, no matter the amount of service that the tenant chooses in the private floors. The thought being that for a combined offering of a traditional space and coworking to work, you need to have it fully integrated into one product and have one supplier to deal with. Trying to sell 3 different solutions from 2 different suppliers is tough, so it's better if one actor coordinates the entire experience.

This type of a setup is part of a larger trend where coworking operators provide services to traditional property owners, helping them activate or generate more value from their properties by incorporating flexible products. Operators can expand their footprint and client base without necessarily taking on more lease risk, and owners get access to a service layer that is hard to replicate without a large organisation. It's easy to imagine that if this model catches on it will enable the coworking market to grow even faster as investment cost and risk for expansion are drastically reduced.

Running a coworking business in regional cities

Even though DoSpace isn't alone in their markets, the competition is markedly lower than in Stockholm and at the moment not on Niclas list of worries. Coworking competition usually comes from local competitors who only exist in that city. As usual the largest competition comes from traditional offices, of which Niclas means that it's not uncommon for local property owners to offer short term leases to their tenants, making it even more important for DoSpace to deliver a great product.

On the other side of things, sourcing spaces from property owners is getting easier. Local property owners nowadays not only know about coworking but have a grasp of what it is, and the days of being a coworking missionary are coming towards an end.

Coworking, and specifically a DoSpace type of concept, require extensive tenant improvement investments and high running costs due to the level of service involved. I ask Niclas if the fact that office rents are comparably much cheaper than in larger cities dampens their ability to offer a high end product, as the additional costs quickly can become substantial in comparison to the base rent. DoSpace has according to Niclas taken this into account and adjusted the level of amenities included to fit the market that they are active in. For example, it's a little bit tougher to include breakfast every day and gym services than it might be in Stockholm.

2023 is a growth year for DoSpace and more is to come

Things are looking up when viewed from the financial side of things. Niclas tells me that 2023 will be a growth year where their revenue is projected to increase by 60% to 50msek, and that they for the first time will turn a profit. In 2022, DoSpace group revenue was 31msek up from 25msek, with a loss of 2.5msek compared to a loss of 5.3msek in 2021.

To achieve these results they have paid close attention to their occupancy rates, costs, and not given themselves much slack for new openings. They currently stand at over 80% room occupancy including their new openings, even achieving 85% occupancy at the time of opening at one of their newest locations.

At the moment DoSpace has 2 new locations set, one in December and another next year. After that their plan is to continue opening 2-3 sites per year both in existing markets and new markets. Their current priority is growth and primarily expanding their geographic footprint across Sweden, and continue cooperating with House Be to create the largest possible network of coworking spaces in Sweden. They are excited to do more deals like the one with Mannersons and also increase their conference business.

When asked about risks Niclas sees the availability of great spaces as their biggest threat. Not only is it hard to find spaces, but in the current financial climate the willingness or even capability of landlords to invest in fitouts for a new space has noticeably declined, a hard problem for DoSpace to overcome.

My time with Niclas was exciting as I get to learn more about how the coworking market differs from Sweden's larger cities. It seems as if the challenges are similar across the country, but one can't help but wonder what direction property owners across the country will head in the future. Will they continue to lease out traditionally, will they lease out to operators, or will collaborations become more commonplace? Compared to the huge CRE companies that dominate in Stockholm who set central flex strategies, it would seem natural that a more fragmented market will appear as the long tail of landlords make their own strategic decisions.

About DoSpace

Founded: 2017 in Linköping

Number of employees: 20

Current number of locations: 11 in 5 cities

Total footprint: ca 10 000m2

Stockholm, November 9: Revelop's self-developed co-working concept, C/O Workspace, following its significant success in Gothenburg, is set to expand with a new facility in Mölndal.

Introduced at the beginning of 2016, C/O Workspace was launched to cater to the growing demand for flexible office solutions. Since then, C/O has evolved into a smart, premium product with a strong focus on sustainability and is operated independently.

Last year, C/O opened its first facility in the Gothenburg area at Hisinge Hus, marking its first venture outside the Stockholm area. In just one year, this 700 square meter facility with nearly 70 workspaces is fully leased.

"The rapid occupancy of our first Gothenburg C/O facility confirms that our strategy is on point and that the market is ready for more," says Gabriel Andersson, Business Area Manager at C/O. "Encouraged by this success, we have decided to establish another facility in Gothenburg."

The new facility is scheduled to open in the first quarter of 2024 in the Hästägaren 3 property in Mölndal. The C/O Workspace in Mölndal will span almost 800 square meters, featuring 25 office rooms and shared spaces. With this addition, C/O Workspace will encompass 12,800 square meters across six properties.

"We are thrilled that our customers in Gothenburg appreciate our C/O facilities, which also highlights the significant demand for affordable, high-quality premium offices close to residential areas," Andersson adds. "We believe many will value our all-inclusive concept, which simplifies cost management. The property we are establishing in Mölndal is perfectly suited for C/O."

Revelop operates with a pronounced ESG strategy, transforming properties from 'brown' to 'green.' C/O Workspace contributes to extending the life of buildings and revitalizing them. Sustainability permeates the entire concept, from repurposing and efficient space utilization to charging stations and digitalization, enhancing efficiency for tenants.

WeWork, one of the world's largest coworking operators and a trailblazer in the industry has announced it's chapter 11 filing on November 6th, 2023. WeWork Inc. and certain of its entities filed for protection under Chapter 11 of the U.S. Bankruptcy Code, and intend to file recognition proceedings in Canada under Part IV of the Companies' Creditors Arrangement Act.

According to the company's press release on the matter, WeWork's locations outside of the U.S. and Canada are not part of this process. WeWork's franchisees around the world are similarly not affected by these proceedings.

WeWork has been instrumental in progressing the coworking market to where it is today. When they entered the Stockholm market in 2019, they made a splash larger than had ever been seen before and jolted the Swedish coworking market forward into new frontiers. Their 2 offices in Stockholm are some of the best pieces of office space that Stockholm has to offer, and its long been a tenant favorite. What happens now is anybody's guess, but we wish them the best in some trying times ahead.

Caroline Stjernberg's post on LinkedIn reassuring their commitment to the Swedish market. Link to the announcement.

Ben Wright from the Instant Group on what it means for other operators:

The coworking and serviced office market continues to thrive with high occupancy levels. Our latest report in Q2 2023 discussed how the leasing of the substantial supply added in 2022 was underway at full speed. After the significant supply increase in 2022 and 2023, occupancy has recovered and is now stable at historically high levels.

A closer look at the data shows that net leasing has been dominated by a few of the largest operators. Compared to Q1 2023 (6 months), we see a 10% increase in leased square meters, which, along with price increases that occurred during the year, indicates that the market is heading towards over 20% growth in turnover this year as well.

Meanwhile, there is a noticeable slowdown in the number of advertised new establishments. As of today, there are only 15,000 sqm in upcoming facilities for 2024 and beyond. Many operators who have previously been expansive in Stockholm have significantly reduced their expansion rate. During Q3, we see cautious signs that the establishment rate is picking up again, but it remains at low levels.

Some of the latest openings:

• Convendum Drottninggatan Stockholm - 4000 sqm
• Convendum Sundbyberg Stockholm - 4120 sqm
• Fabege CoW Arenastaden - 1436 sqm
• Spaces Old Town Stockholm - 3000 sqm
• Arena Läppstiftet Gothenburg - 3144 sqm

Turnover of the coworking market in Stockholm Now that all annual reports have been received, it is confirmed that 2022 was a big year for the serviced office industry with 34% growth in turnover and a significant reduction in the collective loss.

As coworking continues to grow in the Nordics, one thing is for certain, everybody is vying for larger and larger tenants. An inevitable fact if coworking is set to grow from 5% to 30% of the office market, as there simply aren't enough smaller companies. One could make the argument that the market is quite saturated already within the segment of 1-10 person teams, as today it's become the norm for teams of that size to choose coworking.

For that reason, we thought it would be fun and inspiring to shine a spotlight on what different actors are doing in their chase for bigger deals. As new ground is broken operators are forced to think outside the box and push the boundaries of their products, their sales process, and even what coworking is. Convendum, Sweden's by far largest coworking operator, has the best track record so far in catering to enterprise teams.  To top that off, they recently made a big splash by breaking the news that they signed a contract to provide office management services for Klarna, in Klarna's own office.

Today we sit down with their COO Oscar Limbäck to discuss an exciting new product line, something we haven't seen a coworking operator do in Sweden, namely the launch of Convendum Enterprise.

Later on in the article Oscar dives into the details of Convendum Enterprise. For now, it's enough to know that their launch includes 3 products:

• Convendum Enterprise Office Management - Convendum services enterprise clients in their own offices
• Convendum Enterprise Memberships - Enterprise clients can purchase Convendum memberships by the hundreds
• Convendum Enterprise Consulting - Consulting services regarding how to best utilize the office

Has Convendum been dominating the large team game?

Since their inception Convendum have taken on large projects, enabling them to build products suited for large teams. Combined with a serious sales and marketing effort they have had the prerequisites to cater to larger teams and have successfully executed on doing so. When speaking to Oscar, we began listing the larger brands they have had as tenants over the years, the list quickly became quite long. In total, Convendum has currently has over 40 Big Offices, not necessarily all leased out, and has had several clients with market caps exceeding 1BSEK.

Even though we don't have the specific numbers, from our quick chat it's anecdotally clear that they have been a large player in the space . There are of course impressive large client lists from other operators as well but none that match the breadth Convendum has achieved over the years.

We asked Oscar what his view on why Convendum has had such success within the segment:

"CONVENDUM has always prioritized delivering a high-class service and offering a premium experience to our members and visitors. We have also noticed that our flexible contracts have been appreciated by our member companies. We want to be the premium provider that helps people and companies to grow and by that enable their success."

How Klarna Grew With Convendum

In 2019 Convendum was contacted directly by Klarna, who wanted to know more about how Convendum could help Klarna with it's aggressive expansion plans. Since that day Oscar has been Klarna's point of contact at Convendum and personally seen to all the huge deals that would come of that relationship.

It started with Klarna moving a larger team to Convendum Gävlegatan in 2019, down by Hagastaden. The solutions were full floor - making it easy to keep things private. Not long after Klarna expanded with considerably more space in the building.

Oscar says that the driving force for these first deals was that Klarna had experience from coworking in other markets and wanted to try it out in Stockholm, simultaneously as they had large needs for more space.

They liked the flexibility and the hassle-free experience.

After that the now famous story of Klarna leasing an entire building from Convendum happened, a historical deal where Klarna acquired 5800m2 on Sveavägen 38. As it happens, Klarna decided to massively downsize their real estate footprint in Stockholm and never moved into the space. As of today the building is empty and the two companies are collaborating on finding other tenants to fill the space.

Convendum Enterprise First Deal - Servicing Klarna's HQ

In the wake of the above a deal was struck - Convendum and Klarna agreed on a deal that would lead Convendum into new territory, the office management market. Starting on the 1st of September 2023, Convendum will be responsible for the facility management of Klarnas offices at Sveavägen 46.

So what does that mean? Oscar goes on to list the actual services that they have contracted with Klarna:

• Reception and concierge services
• Breakfast
• Upkeep of conference rooms and common areas
• Convendum has taken over vendor contracts and secure the delivery of coffee, fruit and more
• Convendum provides a location manager who is on site
• Klarna employees have access to other Convendum locations and meeting room facilities

In total Convendum will have a team of 8-9 people dedicated to servicing Klarna. Convendum dedicates this team to Klarna, and does not mix and match with personelle from other locations.

Why Convendum? The Bet is to Combine Service with Physical Locations

Oscar tells me that the most prominent feedback they receive from guests - not just tenants, is how outstanding the service is. Everything just works. Oftentimes from representatives of larger companies that are just there for a conference. With over 8 years of operational experience from building and managing offices, why shouldn't they be great at it?

Even so, you might be wondering why Convendum should beat established actors such as COOR and ISS. You might also be aware that similar concepts have been tried and launched by international coworking operators such as WeWork, who launched WeWork Facilities Management for Enterprise in 2018. Oscar's point is that on top of being really good at the product, a key differentiator compared to traditional facilities management companies is the ability to offer access to Convendums actual physical locations across Sweden.

What does that mean? Well, the pitch becomes that not only can you be relieved of the headache that is taking care of the office, but you can also provide your employees access to over 70 000sqm of additional space, essentially tying the client into the Convendum world without them becoming a tenant. Oscar doesn't delve into the details of how this would work financially, but it does seem to provide an opportunity for enterprise clients to keep footprint lower than without this additional access. Lastly, Oscar states that they believe that they can offer a cost-neutral alternative thanks to their scale effects.

What about the other new products?

On top of facility management Convendum has also launched membership and consulting offerings for enterprise clients. Enterprise membership is newly launched and does not have any clients yet, and consulting is up and running with a handful of clients. Consulting is a free service where Convendum wishes to have dialogues with larger clients about their office needs and advise them, much as larger landlords often do with tenant advisors who are supposed to be in the know of hot office trends.

The point of Enterprise Memberships however is to provide access to Convendum's large network of locations. The thought being that Convendum's centers will serve as additional space on top of the client's HQ, close to their employee's homes or convenient locations in the city center.

As we talk about this concept I ask why hasn't this taken off already? Nothing has stopped Convendum or other operators from offering this before, in practice it's just helping large companies and their coworkers with memberships that increases their flexibility and access to the Convendum system with about 20 coworking spaces. There have also been several quite aggressive attempts by the many pass companies that try to offer memberships that span across many operators.

Oscar says Convendum has chosen to focus on their own product, because they believe their network of locations to be strong enough to serve clients solely themselves. He also theorizes that they simply haven't put the effort into trying to sell this product to larger companies. Maybe he's right and the market just isn't there yet, or maybe there just isn't an appetite for going to an office without your colleagues. One thing is for certain, if this market would open up it's a massive shift in the target audience for the industry.

Where is Enterprise in 1 Year?

As impressive as it is that Klarna has given Convendum the keys to their office - on the face of it that is what has happened so far. How much does Convendum believe in this segment, is it a serious part of their future business? Oscar seems to think so, and when pressed on where they will be in 1 year he answered:

“We aim to have several more office management clients within one year. It’s a service we see great growth potential in. CONVENDUM is the first coworking operator to enter the Office Management market in Sweden.”

To reach this goal Convendum has dedicated a new department and marketing resources towards Convendum Enterprise. In the short term, Oscar is determined to land a new client before the year's end. Is this a new venture? Yes. Is it unclear where it will be in 1 year? Yes. Does Convendum have the prerequisites required to pull this off? Yeah, and probably the best position to do so in Sweden.

Ending thoughts

Oscar laughs when we talk about the goals and the prospect of revisiting the quotes in a year. We end the talk on a positive note regarding how getting more operators to talk about their efforts to court larger clients is essential for the industry to evolve. As different operators iterate and try new things the industry will carve out new niches, some will be copied, but in the end there's a lot of market going around for everyone.

Frankly, the coworking industry for once has a lot to learn from the traditional office industry who have been serving the needs of corporate giants since buildings where born. It's a bit ironic that the term that has become vogue, Big Office - used not only by Convendum, is probably not at all what the enterprise client sees in the coworking alternative but rather a term coined from the perspective of usually dealing with smaller clients.

Large clients demand complex deals built on high amounts of customization and intricate deal structures, far away from the simple premise of leasing a private office in a shared space. Hopefully the market can align incentives to combine these two perspectives and sets of experience in the years to come, where coworking operators and landlords work together to create the office market of the future.

Stay tuned for more articles regarding large coworking solutions as Nordic Coworking focuses on the topic during this fall.

The facility in Börshuset building is the first joint project with Atrium Ljungberg since the company acquired 50% of the shares from A house in the spring of 2023. Initially, A house will occupy the ground floor and the second floor, which together have an area of 1,818 square meters. When the basement and attic have also been renovated, it will amount to a total space of 3,000 square meters.

The building will be developed in collaboration with tenants, a method they have previously applied at A house Ark, formerly known as the School of Architecture. Johan Almquist, CEO of A house, told Fastighetsvärlden: "Our experience is that you use what you are involved in creating”.

A house is specialized in catering to certain types of creative businesses, and there won't be a change in focus for the Slakthusområdet location. Here, the emphasis will primarily be on food and beverages, but also music and design.

The first tenant in Börshuset building will be Bocuse d’Or Team Sweden, which will establish a training kitchen in the basement, where there used to be a restaurant. This is a significant investment with sponsors and partners involved, making them a long-term tenant. The company's first facility is located in the old School of Architecture in Östermalm – A house Ark, which focuses on music, food, fashion, and media.

Johan Almquist believes that with A house's presence in the area, it marks the beginning of the daytime phase, following Atrium Ljungberg's success in developing the nightlife.

Another A house facility is planned for the Slakthusområdet area in the future, with an opening expected at the end of 2024. This facility will be located in House 25 and will have an area of 1,600 square meters. A more distant project is Atrium Ljungberg's Stationshuset in Sickla, where trams, the Saltsjöbanan, and the subway will converge. A house will also have another facility in that building.

However, A house is not limited to projects with Atrium Ljungberg. In Gothenburg, they have partnered with Peab to open a facility at Bananpiren in Frihamnen, with an expected opening in 2026. Johan Almquist stated, "We have received inquiries from Malmö, both from the municipality and various property owners, but right now, we have enough on our plate. We aim to carry out the same quality as we did with Arkitektskolan in our current ventures."

Take a look at Vasakronan's newly opened coworking space, Arena Skrapan. This world-class coworking facility is located right in the heart of Södermalm in Stockholm. It offers 3,500 square meters of coworking space, including 150 flexible workstations, 17 private office rooms, and 38 meeting rooms. Exclusive photos taken by yta.se's photographer.

Swedish version of the text below

House Be continues to grow. The Northern Swedish co-working company is now expanding into Tullmagasinet in Umeå. The new co-working space will encompass 3,800 square meters and accommodate 400 members based in Umeå, as reported by Fastighetsvärlden.

"Umeå is a city with a thriving business environment where we aim to contribute to further growth," says Olof Pergament, CEO of House Be.

Tullmagasinet, also known as Tullkammaren, is owned by the real estate company Campus X and will now be adapted for co-working operations.

House Be has grown rapidly since its inception in Åre in 2017 and is now also present in Luleå, Skellefteå, Örnsköldsvik, Härnösand, Sundsvall, Hudiksvall, Östersund, and now Umeå. The demand for House Be's existing co-working spaces in Umeå has been so significant that they have chosen to expand within the city. Occupancy in Tullkammaren will begin on February 1, 2024.

"Here, we have the opportunity to create the ecosystem of offices, meetings, services, and inspiration that we want to offer our members and their networks. Moving into the entire property, an iconic building like Tullkammaren, feels fantastic," says Olof Pergament.

Last year, House Be opened four new units totaling 6,000 square meters in Skellefteå, Umeå, and Hudiksvall. With the addition of Tullkammaren, House Be will oversee a total of approximately 17,000 square meters.

Swedish version of the interview at the end

Almost exactly one year ago, Susanne Lindquist assumed the role of CEO at 7A, after having worked as the CFO at 7A since 2021. Susanne has a background in finance and a master's degree in economics from Stockholm University. She worked as an auditor and consultant at Ernst & Young for ten years before seeking a new professional challenge and taking on the role of CFO at Transcendent Group, which was on a growth journey with the goal of going public.

– I believe that's what defines my career choices; I enjoy the challenge of working with growth companies. It's exciting and fun to be part of a journey where no two days are the same. I worked at Transcendent Group for seven years, during which we expanded into Europe, dealing with legal, financial, and structural challenges. The pandemic accelerated our transition to coworking by converting some of our conference spaces into offices. The other reason was that on December 1, 2019, we opened Posthuset on Vasagatan with 17,000 square meters for rent. So, the pandemic had a significant negative impact on our company.

After the pandemic subsided, 7A had a very strong 2022 with a revenue increase of 56%, while the results improved from -79 million SEK to -57 million SEK. The opportunities to increase revenue had already been created, and now they were gaining momentum. The industry was mature, and the demand for office space suddenly returned. Despite everything, the pandemic brought something positive to the coworking industry – the market was now mature, and many companies, both existing and new, began to see the benefits of coworking. Facilities started filling up with tenants, and work towards profitability began.

Read yta.se's report on the turnover increase in the coworking industry in 2021

– Our current plan is to achieve profitability by spring 2024. It's an ongoing effort where we examine the entire operation and explore how we can create a product that is attractive and relevant to our customers. This is something we've been working on since last autumn, dedicatedly and intensively. We've reviewed everything from our organization to our internal platforms and processes, and this spring, we focused on our brand and positioning. Our vision to create an experience beyond expectations for everyone entering our facilities remains unchanged. This is what everyone at 7A strives to achieve every day. It's worth noting that we are one of the first players in coworking in Stockholm, which gives us significant knowledge and expertise in our industry that we continue to build upon.

Unfortunately, 2023 won't be the year 7A achieves profitability, but they are well on their way with continued growth, and break-even is close. 7A is a company focused on growth, which means they will open more facilities in the near future. Since their inception in 2006, they have opened four facilities and never closed any. Their business is built on long-term relationships with both property owners and customers.

– All our facilities are currently located in city-center locations, and any new facilities will also be in city locations. Companies that lease space from us should be attractive employers at addresses convenient for their employees to reach. This is even more important today when many people work from home most of the time. The city will always be attractive.

Flexibility is the key to success

Being flexible and responsive to their customers' needs is a key factor in succeeding in this industry. Customers today have entirely new needs, such as meeting rooms and various types of social spaces. 7A makes adjustments based on these needs. One noticeable trend is that many companies are leasing offices with fewer workstations than they have employees, given the normalized practice of remote work. This is precisely what we, as a coworking provider, can offer.

– We want to make life easier for companies and their employees. It's crucial to listen to your customers and tailor your offerings. This could range from dog sitting to buying flowers for Friday, but also arranging meetings, larger conferences, and private parties. We believe in creating partnerships with relevant entities that add value to our customers/tenants. It's not just about offering office workstations; there's so much more to add to that.

A female-dominated company

7A has always had many women in its management team and throughout the company. There is no explicit strategy for this; it has happened organically because the service industry is female-dominated, and many in coworking come from the hotel and conference industry. However, the leadership team is predominantly composed of women, and there are also three women on the board.

– It's fantastic that there are so many women at 7A, but I still believe in balance. It's great to have driven women, and it's wonderful that, for once, it leans towards the female side instead of the usual imbalance.

7A also actively focuses on environmental sustainability. Their customers have high expectations regarding environmental issues, and more people are aware and want to know their environmental footprint as tenants at 7A. It's a high priority, and they strive to make their coworking facilities as sustainable as possible. The conference part is Swan-labeled, and the coworking product is inherently sustainable because multiple companies share resources in the facilities. However, ongoing collaboration with property owners is required.

– As an actor in this field, we are a significant asset to property owners because we care about their properties, invest heavily in them, and create value for their properties, unlike a "regular" tenant who rents for a few years and then moves out.

Added services to find profitability

Historically, the coworking industry has had relatively low profitability with many losses, but I believe we will see a change in the future. Many property owners are starting their own coworking facilities, creating competition that many players view positively. The coworking market is evolving, and the product must be adapted based on the needs of tenants/customers.

– The industry has grown very rapidly, and everyone faces profitability challenges. We went through a pandemic and now, this year, high inflation. We've had many different challenges in recent years, but it's still a very interesting industry that continues to grow. Profitability comes from successfully developing the product, where we also add various types of relevant ancillary services that create value for our customers. I truly believe in added services; we want to simplify things for our customers as much as possible, says Susanne Lindquist.

Original Swedish language version of the interview

Susanne Lindquist ska driva lönsamhet för 7A

För nästan exakt ett år sedan tillträdde Susanne Lindquist som VD för 7A efter att ha jobbat som CFO på 7A sedan 2021. Susanne har en bakgrund inom ekonomi och en magisterexamen i ekonomi från Stockholms universitet. Hon har jobbat som revisor och konsult inom Ernst & Young i tio år innan hon kände för en ny utmaning i yrkeslivet och började arbeta som CFO på Transcendent Group som stod inför en tillväxtresa med mål att bli börsnoterade.

– Jag tror att det är det som genomsyrar mitt yrkesval, jag gillar utmaningen i tillväxtbolag. Det är spännande och kul att få vara med på en resa där ingen dag är den andra lik. Jag jobbade sju år på Transcendent Group som skulle växa i Europa med allt vad det innebar av juridik, ekonomi och att sätta strukturen. Det var superkul att få vara med på en sådan resa fram till en börsnotering.

Därefter valde Susanne att sluta på Transcendent Group och  konsultade en del som CFO fram till att hon fick erbjudandet om CFO-rollen på 7A. Susanne började på 7A mitt i  pandemin, en utmanande tid både generellt men också för 7A som verkar i en bransch som blev väldigt påverkad av pandemin.

–. Pandemin påverkade 7A väldigt hårt, primärt av två anledningar skulle jag säga. Den ena är att vi har en konferens produkt och det skiljer ju oss från många av våra kollegor i branschen. Där och då var konferens och event närmare 50 procent av verksamheten och vi fick i princip ”näringsförbud” inom detta område. Vi hade en tydlig strategi redan innan pandemin, i samband med att SEB våra nya ägare kom in, att vi skulle växa verksamheten inom coworking. Pandemin bidrog till att vi växlade över än snabbare och omvandlade en del ytor som tidigare hade varit konferens till kontor. Den andra anledningen var att vi den 1 december 2019 satte nyckeln i Posthuset på Vasagatan där 17 000m² skulle hyras ut. Så pandemin har haft stor negativ effekt på det här bolaget.

När pandemin lagt sig kom ett väldigt starkt 2022 där 7A hade en omsättningsökning på 56%, samtidigt som resultatet förbättrades från -79msek till -57msek. Möjligheterna att öka omsättningen hade redan skapats och nu tog det fart. Branschen var mogen och behovet av kontor fanns helt plötsligt igen. Pandemin förde trots allt något gott med sig för coworkingbranschen, helt plötsligt var marknaden mogen och många företag och nya företag började se fördelarna med coworking. Anläggningarna började fyllas upp med hyresgäster och ett arbete för att nå lönsamhet påbörjades.

Läs yta.se's rapport om omsättningsökningen i coworkingbranschen 2021

– Planen nu är att vi ska nå lönsamhet under våren 2024 Det är ett pågående arbete där vi genomlyser hela verksamheten och ser över hur vi kan skapa en produkt som är attraktiv och relevant för våra kunder. Det här är ett arbete vi bedriver sedan förra hösten och jobbat väldigt hårt och dedikerat med. Vi har gått igenom allt från att se över organisationen, våra interna plattformar och processer och nu i våras har vi gjort ett arbete kring vårt varumärke och vår positionering. Vår vision att skapa en upplevelse utöver det förväntade för alla som kommer in på våra anläggningar ligger fast. Det är det alla som arbetar på 7A strävar efter att skapa varje dag. Vi ska komma ihåg att vi är en av de första aktörerna inom coworking i Stockholm och har med detta en stor kunskap och expertis inom vår bransch som vi fortsätter bygga vidare på.

Tyvärr blir inte 2023 året där 7A når lönsamhet men de är på god väg med en fortsatt tillväxt där break even är nära. Susanne räknar med en tillväxt på 25 procent 2023 så arbetet att nå lönsamhet till våren fortskrider. 7A är ett bolag som jobbar för tillväxt och det innebär såklart att fler anläggningar kommer att öppnas i närtid. Vi har sedan starten 2006 öppnat fyra anläggningar och aldrig stängt någon. Vår verksamhet bygger på långsiktiga relationer både kopplat till våra fastighetsägare och våra kunder.

– Alla våra anläggningar idag finns i city-lägen och även etableringen av nya anläggningar kommer vara i citylägen. Företagen som hyr in sig hos oss ska vara en attraktiv arbetsgivare som verkar på en attraktiv adress utifrån medarbetarnas behov av att enkelt kunna ta sig till jobbet. Detta är än mer viktigt idag när många jobbar hemifrån stora delar av tiden. City kommer alltid att vara attraktivt.

Flexibiliteten är nyckeln till framgång

Att vara flexibel och lyssna på sina kunders behov är en nyckelfaktor för att vara framgångsrik i denna bransch. Kunderna har idag helt nya behov av till exempel mötesrum och olika typer av sociala ytor och där jobbar 7A med anpassningar utifrån kundernas behov. En trend som syns tydligt är även att många företag hyr ett kontor med färre arbetsplatser än vad de har anställda just nu. Detta för att många inte är på kontoret samtidigt i och med det numera normaliserade hemmakontoret. Detta är ju just vad vi som coworkingaktör kan erbjuda.

– Vi vill kunna underlätta vardagen för företag och dess medarbetare. Här gäller det att lyssna på sina kunder och anpassa erbjudandet. Det skulle kunna vara allt från hundpassning, till att köpa med sig fredagsblomman men även att vi kan ordna med möten, större konferenser och privata fester. Vi tror mycket på att skapa samarbeten med relevanta aktörer som ger mervärde till våra kunder/hyresgäster. Det handlar idag inte enbart om att erbjuda ett kontor med arbetsplatser utan det finns så mycket mer att addera till detta.

Ett kvinnodominerat bolag

7A har alltid haft många kvinnor i ledningsgruppen och generellt inom hela bolaget. Det finns ingen uttalad strategi kring detta. Det har mer blivit så på grund av att serviceyrket är en kvinnodominerad bransch och många som jobbar inom coworking kommer ifrån hotell och konferensbranschen. Men ledningsgruppen domineras av kvinnor och det sitter även tre kvinnor i styrelsen.

– Det är fantastiskt att vi är så många kvinnor inom 7A men jag tror ändå på en balans. Det är superkul med drivna kvinnor och det är ju underbart att det för en gångs skull väger över på kvinnosidan i stället för tvärtom som det oftast gör.

7A jobbar även aktivt med miljö och hållbarhet. Miljöfrågan är något som deras kunder ställer höga krav på och fler är medvetna och vill veta vad miljöavtrycket blir som hyresgäst på 7A. Det är något som är högt på agendan och man strävar efter att göra sina coworking-anläggningar så hållbara som möjligt. Konferensdelen är Svanenmärkt och coworking-produkten är hållbar i sig i och med att man är många företag som delar på resurserna i anläggningarna. Men det är ett löpande arbete tillsammans med fastighetsägarna.

– Vi som aktör är en stor tillgång för fastighetsägarna då vi värnar om deras fastigheter,  vi gör mycket investeringar i deras fastighet och skapar ett värde för deras fastighet till skillnad från en ”vanlig” hyresgäster som hyr i några år och sedan flyttar.

Adderade tjänster för att hitta lönsamhet

Coworking-branschen har historiskt sett haft en ganska låg lönsamhet med mycket förluster men där tror jag vi kommer se en förändring framåt. Många fastighetsägare startar sina egna coworking-anläggningar och det skapar en konkurrens som många av aktörerna ser positivt på. Marknaden för coworking utvecklas och produkten måste anpassas utifrån hyresgästernas/kundernas behov.

– Branschen har vuxit väldigt snabbt och alla har utmaningar med just lönsamhet. Vi gick igenom en pandemi och sedan det här året med hög inflation. Vi har haft många olika utmaningar de senaste åren men det är samtidigt en väldigt intressant bransch som fortsätter att växa.  Lönsamheten kommer från att du lyckas med att utveckla produkten där vi också adderar olika typer av relevanta kringtjänster som skapar ett värde för våra kunder. Jag tror verkligen på adderade tjänster, vi vill förenkla för våra kunder så mycket som möjligt, säger Susanne Lindquist.

iOffice - Stockholm's fastest growing coworking operator, has set their sights on their newest acquisition. In August 2024 iOffice will open their 9th center in Stockholm, 6300m2 on Sveavägen 32. The lease is iOffice largest and most ambitious project as of yet, and signals their willingness invest in solidifying their position in the Stockholm Coworking market.

The premises comprise the entire building of 10 floors. The building boasts several terraces, a large courtyard, an aula for larger events, and on top of that iOffice will be turning the entrance and basement floors into a café and a larger gym. The building, built in 1920, was previously housed by Berghs school of communication.

"Over the last couple of years we have seen a strong increase in demand from larger teams demanding flexible office solutions, for which our tailored solutions where we build offices according to our clients needs on flexible terms have been a perfect fit. With Sveavägen iOffice is making sure we have more space to offer the market and that they will be our best offices as of yet, taking a big step to elevate our product by investing more than we have done ever before." Homan Tehrani, CEO at iOffice.

With this lease iOffice grows their footprint in Stockholm to 25 530m2, putting them in 3rd place according to total square meters operated in the city. iOffice has grown quickly over the last years, posting 123msek in revenue for 2022 compared to 50msek in 2021 and 24msek in 2020. iOffice offers a full service concept while focusing on building tailored offices for larger clients as well as delivering competitive pricing.

Swedish version of the interview at the end

There are many ways to approach coworking, and as the market grows, it becomes increasingly fragmented. Emelie Mannheimer, who took the helm as CEO of United Spaces in December 2022, is at the forefront of one of the more direct and active initiatives from the property owner's side, having been acquired in January 2019 for 200 million SEK. With strong backing from its parent organization, Castellum, one of Sweden's largest commercial property companies, United Spaces has established itself as a leading figure in the Swedish coworking sector.

"Castellum strengthens its value proposition as a property owner through United Spaces by offering a broader product range than its competitors," Emelie comments.

Emelie Mannheimer's journey to United Spaces is not the most conventional. After starting her career in law, she quickly realized it wasn't the right field for her. Almost by chance, she found herself in the PR industry, helping companies reach the media and articulate their messages. After nearly a decade in communication, including a significant stint as COO at the agency Springtime, she transitioned to the real estate world as the marketing director at Tengbom. At Tengbom, she managed to turn uncertainty into pride within the organization and secured a finalist spot for Marketing Director of the Year and later took on the role of COO.

What is an office? What makes a good workplace? What's the future of the office market? These were some of the most intriguing questions for Emelie during her time at Tengbom, sparking her interest in her new role at United Spaces.

"How smart of Castellum to acquire United Spaces; the real estate industry needs to move more towards hospitality and experience. On top of that, United Spaces is a very exciting brand as one of the first coworking operators in Sweden. The fantastic people working here also played a part," says Emelie Mannheimer, CEO of United Spaces, on why she took on the role.

When asked about her leadership style, Emelie responds that she brings a curious and forward-leaning approach to the table. Over the next hour, we discussed what this means for United Spaces, how to truly dive deep into creating a great workplace, and how to balance growth and profitability.

Strategic Expansion and its Challenges

United Spaces has been around since 1999 and currently has 11 facilities spanning 36,500 square meters across four cities. In November, they will open their 12th facility in another new city, Jönköping, solidifying their position as one of the largest operators in Sweden. Regarding strategic expansion, Emelie Mannheimer has a clear vision for United Spaces. She emphasizes the importance of understanding the company's members and their needs. "It's about creating value by making their workday better than they expected," she says. "If the industry is to grow from 5% to 30% of the office market, it's a given that coworking needs to establish itself outside of metropolitan areas," she concludes.

One of United Spaces' unique selling points is its geographical presence. With facilities in multiple cities, Emelie sees a clear advantage for members: the flexibility to work from different locations. "Our members appreciate that we are present in various cities. It gives them the opportunity to work from different facilities, no matter where they are," Emelie explains. However, expansion doesn't come without its challenges. Each new city has its market dynamics, and Emelie is aware that a tailored strategy is required for each location. "Even if Jönköping and Örebro might seem similar, they can have entirely different market conditions," she says.

Emelie also sees potential in smaller cities with a strong entrepreneurial spirit. "This spirit can be advantageous for us when considering expanding to these areas," she believes. Lastly, United Spaces has big plans for the future. "We plan to continue our expansion in Sweden, especially outside the major cities like Stockholm, Gothenburg, and Malmö," Emelie reveals. Emelie adds, "Expansion is not just about adding square meters. It's about adding value, creating new opportunities for our members, and building long-lasting relationships in each location."

From Coworking to Neurodesign: Creating the Optimal Work Environment

For Emelie Mannheimer, creating an optimal workplace is not just about aesthetics but also understanding the neurological aspects of the work environment. She emphasizes the importance of creating environments where people feel good and can be productive. This includes everything from having bird chirping in the restrooms to carefully considering color schemes and material choices. Emelie believes it's essential to stimulate all senses to create a work environment where people feel comfortable and motivated and that that is a core task for United Spaces to accomplish.

"Trying to create a cool and stylish product should not be at odds with considering the neurological aspects of creating a high-performing workplace," Emelie mentions. Additionally, the sustainability aspect is gaining more focus, but it also needs to be balanced with maintaining a functional and aesthetically pleasing workplace.

The Merger of Castellum and United Spaces: Being Stronger Together

"What United Spaces does together with Castellum is work on property development," Emelie begins, and it's a mutual benefit.

In a world where the use of property in society is changing and new needs arise, coworking becomes a key to offering tenants a comprehensive solution. How can we make properties more attractive as a whole by integrating flexible offices, service, and traditional space in the same building?

The collaboration between the subsidiary and parent company is fundamentally designed to broaden Castellum's portfolio of solutions for tenants. Conversely, thanks to their partnership with Castellum, United Spaces can benefit from an extensive portfolio of commercial properties. "It's not just assets," Emelie explains. "It's a fusion of knowledge, resources, and a shared vision. With Castellum by our side, we can think bigger, act faster, and realize our vision in ways that otherwise wouldn't be possible."

At Nordic Coworking, we find this constellation very interesting to follow, as it has the potential to guide other property owners and investors' perspectives on the market. If Castellum succeeds in making its properties more attractive by adding United Spaces to the mix, it will likely shake up how properties with coworking as a tenant are valued. When the property owner and coworking are the same owner, there's no longer an excuse for missing synergies in creating a property with a comprehensive offer.

On the other hand, Castellum, through United Spaces, has such good conditions to drive this experiment. If the investment fails or is not fully realized, the market's appetite for coworking will likely be affected accordingly.

United Spaces Now and Moving Forward

Emelie shares that the pandemic was a challenging period for the company, even as they heavily invested in expansion. High on her agenda is the balancing act of achieving profitability while still looking forward to expansion. In 2022, the company reported a loss of 47 million kronor. According to Emelie, the mature facilities are profitable, but the many new openings weigh down the results and will continue to do so.

The goal moving forward is to reach profitability next year without losing sight of expansion. Discussions are ongoing with Castellum, which Emelie cannot go into detail about, but she also announces that there will not be massive expansion in the near future. The investment in Jönköping is essential, and even before opening, they have managed to make significant sales, making Emelie hopeful that they have hit the mark.

We look forward to following Emelie's journey at United Spaces - a company that has established a strong foothold in the premium segment of flexible offices. Time will tell if the merger with Castellum proves to be an asset in regards to moving quickly and, above all, efficiently establishing themselves in new markets. Emelie, who seems passionate about offices as a product, has the responsibility on her shoulders to prove to the industry that coworking can become a profitable business for property owners.

"It's like with cars - no one can be bothered to own a car anymore. I've tried, but I always go back to leasing because I can't be bothered," Emelie concludes with a laugh. We hope she's right, and that United Spaces can be the smooth office product that no one can quit.

Original Swedish language version of the interview

Det finns många sätt att driva coworking på och marknaden blir bara mer och mer fragmenterad desto mer den växer. Emelie Mannheimer, som tillträdde som VD för United Spaces i december 2022, sitter i förarsätet för en av de mer direkta och aktiva satsningarna från fastighetsägaresidan då de blev uppköpta i januari 2019 för 200msek. Med starkt stöd från sin moderorganisation, Castellum, ett av Sveriges största kommersiella fastighetsbolag, har United Spaces etablerat sig som en frontfigur inom coworking-sektorn i Sverige.

"Castellum stärker sitt värdeerbjudande som fastighetsägare genom United Spaces genom att få ett bredare produkterbjudande än sina konkurrenter" kommenterar Emelie.

Emelie Mannheimers väg till United Spaces är inte den mest konventionella. Efter att ha inlett sin karriär inom juridiken insåg hon snabbt att det inte var rätt område för henne. Istället genom nästintill en slump, fann hon sig själv i PR-branschen, där hon hjälpte företag att nå ut i media och formulera sina budskap. Efter nästan ett decennium inom kommunikation, inklusive en betydande tid som COO på byrån Springtime, knöt hon an till fastighetsvärlden genom rollen som marknadschef på Tengbom. På Tengbom hann hon med att vända osäkerhet till stolthet inom organisationen och kamma hem en finalistplats i årets marknadschef, och avslutade sin tid hos Tengbom innan bytet till United Spaces med att vara COO.

Vad är ett kontor? Vad är en bra arbetsplats? Vad är framtiden för kontorsmarknaden? Det är några av frågorna som var mest spännande för Emelie på sin tid hos Tengbom och som gav en gnista till hennes nya roll på United Spaces.

"Vad smarta Castellum är som köpte United Spaces, fastighetsbranschen behöver gå mer mot hospitality och upplevelse. Utöver det är United Spaces ett väldigt spännande varumärke som en av de första coworkingaktörerna i Sverige. Att sedan människorna som jobbade här är helt fantastiska skadade inte heller." - Emelie Mannheimer, VD på United Spaces, om varför hon tog sig an uppdraget som VD.

Till frågan vilken typ av ledare Emelie är, svarar Emelie att ett nyfiket och framåtlutat ledarskap är vad hon tar med sig till bordet. Under den kommande timmen pratade om vi vad detta innebär för United Spaces, hur man verkligen djupdyker i att skapa en bra arbetsplats, och hur man balanserar tillväxt och lönsamhet.

Strategisk Expansion och dess Utmaningar

United Spaces har funnits sedan 1999, och har idag 11st anläggningar över 36 500kvm i 4 städer. I november öppnar deras 12e anläggning i ytterligare en ny stad, Jönköping. Med detta är United Spaces helt klart en av de största aktörerna i Sverige.

När det kommer till strategisk expansion, har Emelie Mannheimer en tydlig vision för United Spaces. Hon betonar vikten av att förstå företagets medlemmar och deras behov. "Det handlar om att skapa värde genom att göra deras arbetsdag bättre än vad de förväntade sig," säger hon. "Ska branschen gå från 5 till 30% av kontorsmarknaden är det en självklarhet att coworking behöver etableras även utanför storstadsregionerna." avslutar hon.

En av United Spaces unika försäljningspunkter är just deras geografiska närvaro. Med anläggningar i flera städer ser Emelie en tydlig fördel för medlemmarna: flexibiliteten att kunna arbeta från olika platser. "Våra medlemmar uppskattar att vi finns i olika städer. Det ger dem möjligheten att arbeta från olika anläggningar, oavsett var de befinner sig," förklarar Emelie.

Men expansionen kommer inte utan sina utmaningar. Varje ny stad har sina egna marknadsdynamiker och Emelie är medveten om att det krävs en anpassad strategi för varje plats. "Även om Jönköping och Örebro kan verka lika, kan de ha helt olika marknadsförhållanden," säger hon.

Emelie ser också potential i mindre städer med stark entreprenörsanda. "Denna anda kan vara fördelaktig för oss när vi överväger att expandera till dessa områden," menar hon.

Slutligen har United Spaces stora planer för framtiden. "Vi planerar att fortsätta vår expansion i Sverige, särskilt utanför de större städerna som Stockholm, Göteborg och Malmö," avslöjar Emelie.

Emelie tillägger, "Expansion handlar inte bara om att lägga till kvadratmeter. Det handlar om att tillföra värde, skapa nya möjligheter för våra medlemmar och bygga långvariga relationer på varje ort."

Från Coworking till Neurodesign: Skapande av Optimal Arbetsmiljö

För Emelie Mannheimer är skapandet av en optimal arbetsplats inte bara en fråga om estetik, utan även om att förstå de neurologiska aspekterna av arbetsmiljön. Hon betonar vikten av att skapa miljöer där människor mår bra och kan vara produktiva. Detta innefattar allt från att ha fågelkvitter på toaletterna till att noggrant överväga färgsättning och materialval. Emelie tror att det är viktigt att stimulera alla sinnen för att skapa en arbetsmiljö där människor känner sig bekväma och motiverade.

"Att försöka skapa en cool och snygg produkt ska inte vara i motsättning mot att tänka på de neurologiska aspekterna av att skapa en presterande arbetsplats." nämner Emelie. Utöver det är hållbarhetsaspekten något som får alltmer fokus, men som även det behöver hamna i balans med att behålla en funktionell och estetiskt tilltalande arbetsplats.

Sammanslagningen av Castellum och United Spaces: att vara starkare tillsammans

"Det United Spaces gör tillsammans med Castellum är att jobba med fastighetsutveckling" börjar Emelie, och det är en ömsesidig nytta. I en värld där fastighetens användning i samhället förändras och nya behov uppstår blir coworking en nyckel i att erbjuda fastighetens hyresgäster ett helhetserbjudande. Hur kan vi skapa en attraktivare fastighet genom att kombinera olika erbjudanden och skapa en bättre helhet? Samarbetet mellan dotter- och moderbolag är i sin grund tänkt att bredda Castellums portfölj av lösningar till hyresgäster.

Samtidigt gäller det omvända, tack vare deras partnerskap med Castellum har United Spaces möjlighet att dra nytta av en omfattande portfölj av kommersiella fastigheter. "Det är inte bara tillgångar", förklarar Emelie. "Det är en sammansmältning av kunskap, resurser och en gemensam vision. Med Castellum vid vår sida kan vi tänka större, agera snabbare och realisera vår vision på ett sätt som annars inte skulle vara möjligt."

På Nordic Coworking tycker vi att ovan konstellation blir väldigt intressant att följa, då det har potential att vara vägledande för andra fastighetsägare och investerares perspektiv på marknaden. Lyckas Castellum med bravaden av att göra sina fastigheter mer attraktiva genom att addera United Spaces in i mixen, lär det skaka om hur fastigheter med coworking som hyresgäst värderas. När fastighetsägare och coworking är samma ägare finns det inte längre någon ursäkt för uteblivna synergier av att skapa en fastighet med ett helhetserbjudande. Å andra sidan har Castellum genom United Spaces så bra förutsättningar för att driva detta experiment, om satsningen skulle misslyckas eller inte drivas till sin fullo kommer marknadens aptit för coworking förmodligen påverkas därefter.

United Spaces nu och framåt

Emelie berättar att pandemin varit en tuff period för bolaget samtidigt som det satsades hårt på expansion. Högt upp på hennes agenda är balansakten av att nå lönsamhet men samtidigt blicka framåt mot expansion. 2022 så gjorde bolaget en förlust om 47 miljoner kronor.  De mogna anläggningarna är enligt Emelie lönsamma men de många nyöppningarna tynger resultaten och kommer även göra så framåt.

Målsättningen framåt är att nå svarta siffror under nästa år utan att tappa siktet på expansion. Det pågår dialoger med Castellum som Emelie inte kan gå in närmare på, men samtidigt tillkännager hon att det inte kommer bli någon massiv expansion i närtid. Satsningen på Jönköping är viktig och redan innan öppning har de lyckats sälja en hel del, vilket gör Emelie hoppful inför att de träffat rätt.

Vi ser fram emot att följa Emelies resa på United Spaces - ett bolag som etablerat ett starkt fäste i premiumsegmentet av flexibla kontor. Tiden får avgöra om sammanslagningen med Castellum visar sig vara en tillgång i form av att snabbt och framförallt effektivt kunna etablera sig på nya marknader. Emelie, som verkar brinna för produkten kontor, har ansvaret på sina axlar att bevisa för branschen att coworking kan bli en lönsam affär för fastighetsägarna.

"Det är som med bilar - ingen orkar äga en bil längre. Jag har försökt, men återgår alltid till leasing för jag orkar inte" avslutar Emelie med ett skratt. Vi får hoppas att hon har rätt och att United Spaces kan vara den smidiga kontorsprodukt som ingen orkar sluta med.

According to the latest coworking market data published by yta.se, 2022 emerged as a powerful year of recovery for coworking, driven by major shifts in how businesses perceived office space post-pandemic. Preliminary figures from coworking providers' annual reports for 2022 revealed the largest increase in revenue yet. This growth was accompanied by a surge in new spaces in Stockholm, with 32 facilities covering over 60,000 square meters unveiled throughout the year. However, this rapid growth led to a drop in occupancy rates from a peak of 85% to 69% within Stockholm's toll boundary.

Where does the market stand in 2023? As we continue through this transformative phase, early signs suggest that 2023 could be the biggest year for coworking so far. A promising indicator is that despite the record number of establishments in 2022, occupancy rates are rebounding towards their highest levels. In January, most operators experienced a substantial 12% rent increase, most of which was passed on to the end customer. Furthermore, the pace of new openings has slowed, driven by a handful of providers expanding their premises, while many focus on profitability. yta.se has also noticed a growing appetite for coworking solutions among customers, with larger companies increasingly looking at flexible office spaces.

Though the coworking sector has grown significantly, it still represents a small fraction of the total office market, just under 5%. Current 2023 data indicates that we might witness continuous strong growth for coworking as a preferred office solution this year, taking another step towards a more flexible office market.

Occupancy Rates Rise Across All Regions

According to yta.se's data on coworking occupancy, Q2 saw a marked increase in occupancy rates for Stockholm, Gothenburg, and Malmö. This data spans over 115,000 square meters of space with up-to-date vacancy status in yta.se's database. As always, this measures vacant office space square meters against the total lettable area, excluding lounges and meeting rooms.

In Stockholm's Central Business District, the occupancy rate jumped to 82%. Areas within the toll but outside the CBD marked 81%, while areas outside the toll boundary recorded 65%. Historically, when the rate crosses 80%, operators have reported a shortage of spaces, triggering an appetite for more openings. It remains to be seen if this will influence the pace of expansion.

Meanwhile, Malmö and Gothenburg also showed rising occupancy rates of 73% and 76%, respectively.

A Decrease in Planned Establishments

In 2022, Stockholm witnessed the opening of 32 new coworking facilities, spanning over 60,000 square meters. The first half of 2023 still saw a high rate of establishment, with 9 new launches covering 27,930 square meters. However, the future seems less aggressive, with only 9 facilities and a total of 23,937 square meters planned for the next 12 months, significantly less than the trends seen in past autumns.

New openings in Stockholm Q2 2023

• iOffice Olof Palmes Gata 11 | 4 100kvm
• Regus Barkarbystaden | 1 200kvm
• The Works Solna | 2 500kvm
• The Works Klarabergsgatan | 2 500kvm

New openings in Stockholm H2 2023

• C/O Bredden | 1 639kvm
• Convendum Drottninggatan | 4 000kvm
• Convendum Sundbyberg | 4 120kvm
• Fabege Arenastaden | 1 436kvm
• Helio Sveavägen | 2 300kvm
• Helio Gamla Brogatan
• Spaces Gamla Stan | 3 000kvm

Impressive Revenue Growth in 2022

Preliminary figures highlight an impressive 40% revenue growth in 2022. Currently, approximately 70% of the annual reports for 2022 have been submitted, and the results are extraordinary. These reports indicate a collective revenue increase of 41% in 2022 compared to 2021.

Last year, yta.se projected revenues of 2.1 billion SEK for 2022, a prediction that now appears to be quite accurate. The final figure will be confirmed once all reports are in, but growth may slightly decrease.

On the bright side, while revenue surged by 40%, the profit margin improved from -19% in 2021 to -11% in 2022. This change suggests many operators are shifting their focus from growth to profitability.

More Players Enter the Scene

The past year also saw real estate owners ramp up their investments in the flexible office market. Companies like C/O, Firstoffice, Fastoffice, and Easyoffice are all betting on growth with their appealing office hotels. Fabege is entering the game with CoW, a coworking space in Arenastaden and offers turnkey offices. Meanwhile, other property owners are exploring ways to join the market. As the sector grows, we can expect more and more players vying for a position in the value chain.

The Instant Group, the largest global flexible workspace marketplace, has acquired Sweden’s biggest flexible workspace platform, yta.se. This builds on Instant’s position as the world’s largest marketplace for the flexible workspace industry covering 168 countries and 5,500 cities.

yta.se has over 8000 office spaces tracked on its platform, allowing for the best comparison service of coworking offices in Sweden and unmatched market insights and is set to expand further into the Nordics.

Sweden is one of Europe’s fastest growing markets for coworking and other forms of flexible workspace, with demand increasing by 98% year-on-year and coworking space accounting for 3.5% of total office stock in Stockholm in 2022.

Founded by Viktor Söderström and Tim Andersson in 2014, yta.se is the market leader for flexible workspace in Sweden and has delivered over 250 million SEK in annual lease value to operators by helping over 500 companies find and compare flexible solutions in Sweden.

Tim Rodber, CEO of the Instant Group, said: “We identified the Nordics as an important, fast growing market for flexible workspace. Viktor, Tim and the yta.se team have greatly impressed us with their ability to capitalise on that market growth and their ambitious plans to scale their business.

“Together we are committed to expanding Instant’s global footprint, helping yta.se grow its platform, with Sweden acting as the gateway to the Nordics.”

Viktor Söderström, Co-Founder and CEO of yta.se, said:“Having grown to become the market leader in Sweden, we are excited about continuing the journey of developing yta.se and our brand under the Instant Group umbrella. Working collaboratively with the Instant leadership team will allow us to accelerate our expansion, providing an expanded service to our existing partners and clients.”

For further information:

instantgroup@fticonsulting.com

viktor@yta.se

tim@yta.se

About The Instant Group

The Instant Group has been rethinking workspace since 1999 with over 500 experts working globally across more than 168 countries. Instant’s digital platforms constitute the world’s largest digital marketplace for flexible workspace listing meeting rooms, virtual offices, flexible office space and coworking memberships. Its global team advises on commercial real estate solutions from serviced offices to fully customized managed offices, and consulting services for portfolio and net zero strategies. Instant’s approach enables agility, hybrid working solutions and improved operational resilience for more than 250,000 businesses every year. Clients include; Prudential, Booking.com, Shell, Jaguar Land Rover and GSK.  Instant has global offices including London, Paris, New York, Hong Kong, Singapore and Sydney.  Across the Americas, Instant coverage includes: Atlanta; Buenos Aires; Charlotte; Chicago; Dallas; Durham, NC; Jacksonville; Kansas City, MO; Los Angeles; Miami; Philadelphia; Salt Lake City; San Francisco; Santiago; and Quito.

www.theinstantgroup.com

About yta.se

yta.se is the leading marketplace for comparing and leasing coworking spaces in Sweden. We provide an end-to-end service for entrepreneurs and executives looking for their next flexible office space, while at the same time providing operators a steady stream of leads, advice and relevant market data and insights. yta.se’s proprietary real time database of over 8000 rooms provides digitized floor plans, unique photos, pricing and more for 90% of the Sweden's coworking supply. This allows tenants to easily browse and compare the coworking solutions available in the market, a service no other marketplace provides. yta.se is also the creator of occu.io an inventory management system that simplifies coworking operator’s management of vacant rooms and enables them to optimise their monetization of available space

www.yta.se

Convendum, Sweden's by far largest coworking operator, has on the 1st of July 2023 inaugurated its newest facility in central Stockholm, reinforcing its position as the leading operator in the country. The new addition, located at Drottninggatan 29, is its fourth opening for 2023 and a marks Drottninggatan's 6th coworking space.

Spanning across four floors, the space boasts approximately 5400sqm and 500 workstations, numerous lounges, meeting rooms, and a plethora of terraces facing various directions. Convendum will occupy floors 5 through 8, with the 7th and 8th floors containing some great terraces.

"We're thrilled to extend our footprint in one of Stockholm's most central areas. Being in the governmental district on Drottninggatan, businesses will be in close proximity to all that the city offers. Our presence here encapsulates the essence of vibrancy and exclusivity," expressed Oscar Limbäck, COO at Convendum.

Guests and members entering the Convendum facility are greeted with expansive open areas featuring windows on all sides and high ceilings, whilst still being attuned to the bustling street-level activity. One of the major highlights includes a spacious terrace overlooking Klara Church, ideal for networking events and enjoyable lunches. Built in 1971, the Drottninggatan property also houses notable tenants such as Espresso House, Netigate, and toy store Lekia.

Johan Zachrisson, Business Development Manager at Fabege, remarked, "We are pleased to welcome Convendum and its members as tenants at yet another prime address. They augment the city's offerings superbly and play a pivotal role in energizing the office market."

This year has been particularly prolific for Convendum, with previous openings at Birger Jarlsgatan 57, Sveavägen 38, and Brahegatan 10. Later in the year, the Sundbyberg center in Koppartråden is set to open its doors to another Convendum coworking space.

Further details reveal an upcoming launch on October 1st at Löfströms Allé 6 in Sundbyberg.

Convendum's latest endeavor on Drottninggatan marks its 16th Swedish location, pushing its total operational space beyond the 70,000 sqm mark, solidifying its dominant presence in Sweden. 2022 was a significant year for Convendum, showcasing a revenue growth from 240msek to 341msek, despite reporting a loss of 69msek.