First ‘white label’ flexible office operator starts in the UK
Two former Cushman & Wakefield executives, along with a former finance officer from luxury hospitality group Habitas, have launched what they call the “first truly white label” flexible workspace operator in the United Kingdom.
Covalt, which will offers owners, landlords and investors a “start-to-finish” management service for flexible workspaces, has already signed agreements to manage 100,000 square feet (9,290 square metres) of office and amenity space. Covalt will also allow landlords and investors to retain existing brands, or even develop their own flexible workspace offering, as part of its white label service. It will look to grow through a combination of current workspace acquisition, as well as bespoke development propositions.
Drawing on lessons from the hospitality industry, Covalt believes it can “get more” from office space, through better design, amenities and services — as well as a more open relationship with landlords.