Property Developer, Nao Group, Seizes Opportunity to Expand in High-Growth Coworking Sector
By: Nao Group
The Nao Group Bond provides investors with opportunities to invest in this fast-growing sector and the Company has set its sights on bringing coworking to the wider UK market. With figures from industry publication coworkingresources.org, forecasting that global coworking hubs will number 40,000 by 2024 ,the Company now seeks to position itself at the front and centre of this rapidly expanding movement.
Building the workplaces of the future
As businesses continue to adopt technological solutions and move away from conventional ways of working, demand for traditional office space is in decline. Even during the throes of the COVID-19 pandemic, the rates for prime office real estate did not fall in line with business revenues leading many firms to question whether it still makes sense to tie themselves to physical premises.
Led by CEO and start-up veteran Panny Lawrence, Nao Group is set to capitalise on the evolution of the workplace through a targeted property development strategy. Mr Lawrence commented:
"Coworking was already a growing phenomenon before the pandemic, and this was one of the main reasons we were attracted to the sector – but the pressures of the past year have allowed the concept to spread its wings."
"Working from home may be here to stay, but businesses simply can't operate properly without the collaboration and human element that only an office can bring. Coworking office space is the sweet spot between those two worlds, and we're here to facilitate a more agile approach to business by developing the necessary infrastructure."
Coworking hits the mass market
With projected yearly growth rates already in excess of 20%, the demand for coworking spaces is only likely to increase following the COVID-19 pandemic. This presents a challenge for coworking developers who must cater to a growing market and a more diverse range of tenants.
For Nao Group these challenges are more of the same, with the Company already having successfully developed coworking communities in London's Colindale, Hackney, and Farringdon. While operations continue in London where a new coworking space is said to open every five days, Nao is committed to broadening the availability of quality coworking space across the UK.
As the Company works to acquire and develop new sites, its focus remains on extending the benefits of the shared economy to new firms in fast-growing regions. Looking to the future, CEO Panny Lawrence noted:
"The coworking sector is still in its infancy, and with first-mover advantage, Nao Group stands to capture a very significant portion of the market."
"Through our growing network of developments, we're able to provide businesses with real operational continuity regardless of where they are in the country. When people search for 'coworking space near me', we want them to find a Nao Group property – and we're on course to get there." http://naogroup.com