Merlin Acquires 100% of Loom & Steps Up its Commitment to Flexible Office Space

26 March 2019 – Eje Prime

Merlin Properties has increased its ownership of the flexible workspace company Loom from 31% to 100%, whereby taking control of the whole entity.

Loom currently operates three flexible workspaces in the centre of Madrid, spanning 3,500 m2 in total. Merlin expects that figure to increase to nine spaces by the end of 2019, spanning 13,000 m2 with new openings forecast both in the Spanish capital and Barcelona.

According to David Brush, Investment Director at Merlin, “flexible workspaces represent a great opportunity for Merlin given that the market is currently growing at a rate of 20% p.a. and may account for 20% of the total office market by 2030”.

Original story: Eje Prime

Translation/Summary: Carmel Drake

59