WeWork readies refurb at Soho site

WeWork is preparing to reopen the doors at a revamped Soho office, a sign of its commitment to some of its London sites even as others are shuttered. The co-working company is underway on a fit-out of 16 Great Chapel Street, W1, set to reopen in May. The company originally took a lease from Deerbrook for the entire building in 2015. The seven-storey space will include private offices, lounges and conference rooms as well as co-working desks. Amenities will include a wellness room. The company said an AI-focused company has agreed to take two floors as a WeWork ‘enterprise’ member. Peter Greenspan, WeWork’s global head of real estate, said: “We’re thrilled to be revamping this iconic location in the heart of Soho. This significant investment reaffirms our commitment to optimising our portfolio to provide our members with the signature experience they expect for the long term. With increasing appetite for scalable, well-designed space in prime locations, WeWork continues to be a first choice for forward-thinking businesses implementing progressive workplace strategies. We look forward to reopening our doors to members this May.” WeWork said earlier this month that it has completed lease renegotiations or rejections across 90% of its global real estate portfolio as it prepares to exit Chapter 11 bankruptcy protection in North America by the end of May. Although the reopening of 16 Great Chapel Street means the company will retain that site, others in the capital have been marked for closure, including 22 Long Acre in Covent Garden, WC2, and 131 Finsbury Pavement, EC2.