Savills buys flex advisory firm to merge with Workthere

Savills has bought flexible office advisory firm Situu to merge with its own Workthere business. Situu was set up in 2019 by co-founders Dan Brown, Tom Leahy, Peter Hall and Harry Murphy, and now has a 10-strong team delivering and marketing managed office space on behalf of landlords, as well as acting for occupiers and serviced office operators in London. Cal Lee, global head of Workthere, said: “This acquisition responds to a structural change in office leasing markets and the growing need to provide specialist flex advisory services to landlords, investors and operators, as well as occupiers in this growing sector. “Workthere and Situu have complementary strengths, with Situu focussed very much on the flex managed leasing market which, combined with our existing occupier services and leasing offer at Savills, will allow us to offer a broad, best-in-class, flex advisory for clients.” Situu’s Hall added: “Having grown our business over the last four years, it now feels like the right time to be taking the next step that will allow us to scale the business further. “Occupiers looking for sub 10,000 sq ft are increasingly looking to serviced and managed space to provide a solution, and with this trend set to continue in the long term, the opportunities for the flex sector to evolve further are considerable.” See how Savills compares with other agents with our On-Demand Rankings >> Photo © Savills