WeWork targets larger firms with South Bank development.

WeWork is targeting larger companies to fill the space in its major development on London’s South Bank as it attempts to challenge traditional landlords and justify its lofty valuation.

The company snapped up 280,000 sq ft of space near Waterloo Station last year to set up its brand of flexible offices, known as co-working. When the building, called Two Southbank Place, is completed, it will be the world’s largest co-working space.

It has now emerged that it will mostly target so-called Enterprise Members – companies with more than 1,000 employees – to fill the space as it looks to move towards housing larger firms rather than start-ups.

The news is likely to cheer sceptics who have suggested that WeWork’s leases to small companies on short contracts means it is more exposed to economic shocks than other office owners.

By Rhiannon Curry.

Full story at Yahoo News.