WeWork files for Bankruptcy = Hello Property Opportunity

The Property Nomads Podcast

Rob talks about the bankruptcy filing of WeWork, a shared office firm that was once valued at $38 billion. He highlights the significance of this event, as it indicates potential opportunities in the commercial property sector. With WeWork likely handing back real estate to banks and landlords, there may be deals to be done and empty properties available for acquisition.

KEY TAKEAWAYS

• WeWork, a shared office firm once valued at $38 billion, has been forced to file for bankruptcy in the US. This indicates potential opportunities in the commercial property sector as landlords may be looking to offload empty properties.
• The bankruptcy of WeWork could lead to a ripple effect in the global economy, impacting other companies and banks with large liabilities.
• Landlords who are left with empty properties may be open to deals and negotiations, creating opportunities for property investors.
• The potential changes to permitted development by the government could further enhance the opportunity to acquire and convert these properties into different types of office spaces or residential properties.

BEST MOMENTS

"If big, massive companies like this who own a lot of offices globally are hitting the wall, then that means that they could probably going to be handing a lot of this real estate, dare I say it, back to the banks, etc."

"What this means moving forward is that if they are handing the leases back to the parent companies or the banks or whatever it is they're doing, then that's going to create a lot of opportunity because the landlords are going to be in the position where they're going to have a lot of empty property."

"Will people ever go back to offices in their droves? I don't know, to be perfectly honest. Probably unlikely. Things have happened. Things have changed."

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ABOUT THE HOST

Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.

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uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast