Savills has expanded its flex office offer with the acquisition of flexible advisory business Situu.
The company, which was founded in 2019 by Dan Brown, Tom Leahy, Peter Hall and Harry Murphy, specialises in the delivery and marketing of managed office space on behalf of landlords. Situu also secures serviced, managed and leased space for occupiers and serviced office operators across the capital.
Situu will be combined with Savills’ Workthere flex business to create a “fully comprehensive offer that operates across the entire flexible office spectrum”.
Cal Lee, global head of Workthere, said: “This acquisition responds to a structural change in office leasing markets and the growing need to provide specialist flex advisory services to landlords, investors and operators, as well as occupiers in this growing sector. Workthere and Situu have complementary strengths, with Situu focused very much on the flex managed leasing market, which, combined with our existing occupier services and leasing offer at Savills, will allow us to offer a broad, best in class, flex advisory for clients. We are looking forward to progressing this strategy with Situu on board.”
Hall added: “Having grown our business over the last four years, it now feels like the right time to be taking the next step that will allow us scale the business further. Being part of Workthere, with the overarching support of Savills, will allow us to offer new and existing clients a more comprehensive service, whilst also opening doors to more of Savills existing client base.
“Occupiers looking for sub 10,000 sq ft are increasingly looking to serviced and managed space to provide a solution, and with this trend set to continue in the long term, the opportunities for the flex sector to evolve further are considerable.”
