26 June 2018
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Coworking Agreement with Mindspace
Globalworth is pleased to announce a collaboration with Mindspace Ltd., the leading global operator of high-end, inspiring coworking space. The Company has signed a lease agreement with Mindspace to open its first locations in Romania in three of Globalworth's buildings, for approx. 12,000 sqm across Globalworth Campus, City Offices and Bucharest Tower Center, all in Bucharest. Romania marks the 7th country in which Mindspace offers its flexible workplace solutions. As part of this collaboration, Globalworth will also make an equity investment in Mindspace of US$10 million (c.€8.6 million) to support its ongoing growth.
Ema Iftimie, Head of Leasing at Globalworth at Globalworth: "We already have a well-established partnership with Mindspace, as the company operates in our legendary Hala Koszyki property in Warsaw, Poland, and today we expand our partnership in Romania. By bringing Mindspace to our buildings, we will be able to cater to a wider universe of potential tenants and their ever-changing needs. Mindspace offers best in class flex-office solutions that are well aligned with the quality and level of service that Globalworth wishes to offer its partners, and we are delighted to play a role in its expansion"
Yotam Alroy, Co-Founder and Chief Business Officer at Mindspace, said: "Bucharest boasts one of the fastest-growing economies in Europe. With a population of almost 2 million people, and highly educated and talented workforce, we identified a strong demand of large global companies that are seeking to have presence in the city. By collaborating with Globalworth, Mindspace will be able to offer its leading high-end service in some of the market's most desirable locations and buildings. Globalworth has a large portfolio of prime located, high quality, class-A office buildings in the country"
By entering Romania, Mindspace increases its portfolio to 28 locations, spanning over approximately 90,000 square meters, and enhances its offering and positioning as a leading, high quality flex-office operator in Europe and the U.S., with presence in 7 countries and 13 cities.
For further information visit www.globalworth.com or contact:
Enquiries
Andrew Cox Tel: +44 20 3026 4027
Head of Investor Relations & Corporate Development
Jefferies (Joint Broker) Tel: +44 20 7029 8000
Stuart Klein
Panmure Gordon (Nominated Adviser and Joint Broker) Tel: +44 20 7886 2500
Andrew Potts
Milbourne (Public Relations) Tel: +44 7903 802545
Tim Draper
About Globalworth / Note to Editors:
Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the pre-eminent office investor in the CEE real estate market through its market leading position in Romania, and in Poland through a majority shareholding in Globalworth Poland, a pure-play Polish real estate platform listed on the Warsaw Stock Exchange. Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, through which it benefits from a strong rental income profile from high quality tenants from around the globe. Managed by approximately 110 professionals across Romania and Poland, the combined value of its portfolio is approximately €2.0 billion, of which over 90% is in income-producing assets, predominately in the office sector, and leased to some 440 national and multinational corporates from 28 countries and 37 different sectors. In Romania, Globalworth is present in Bucharest, Timisoara and Pitesti, whilst assets in Poland span Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice. For more information, please refer to http://www.globalworth.com/ and follow us on Facebook, Instagram and LinkedIn.
About Mindspace
Mindspace is the rapidly-growing global provider of stylish and inspiring coworking space for teams of all sizes. The company operates a growing 25 spaces in prime locations across major world cities in U.S., U.K., Germany, Netherlands, Poland, and Israel. With acute attention to detail and unwavering quality standards, Mindspace designs breathtaking workspace via productivity-enhancing offices, creative lounges, fully-equipped meeting rooms, and open plan kitchens. The diverse community of member companies delights in weekly networking events, professional meetups, and happy hours in a collaborative atmosphere. Mindspace's flexible all-inclusive membership options let members focus on growing their businesses while enjoying valuable benefits and discounts from global and local service providers such as Alibaba Cloud, Amazon Launchpad, and Jimdo, nearby restaurants, car rentals, hotels, gyms, and spas. Among Mindspace's members are world-leading brands, such as Microsoft, Yahoo!, Barclays Bank, Expedia, Schwan-Stabilo, Hertha BSC, Techstars Accelerator and Startupbootcamp. Follow us for fresh news and updates on Facebook, Instagram, Twitter and on www.mindspace.me.
This is a non-regulatory announcement which is not considered to be price sensitive to the Company.
IMPORTANT NOTICE: This announcement has been prepared for the purposes of complying with the applicable laws and regulations of the United Kingdom and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside of the United Kingdom. This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "targets", "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward looking statements include all matters that are not historical facts and involve predictions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business, results of operations, financial position, liquidity, prospects, growth or strategies and the industry in which it operates. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. Save as required by law or regulation, the Company disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this announcement that may occur due to any change in its expectations or to reflect events or circumstances after the date of this announcement.
