The Park – One of Stockholm’s leading coworking space companies
The coworking market space has been one of the fastest growing markets in Sweden over the last five years. With office space in high demand and with more and more fast-growing companies choosing flexibility over stability, the market is estimated to continue growing.
The Park holds 14,000 sqm of floor space in Stockholm alone, adding another 3,000 sqm at the end of 2019, making it one of the largest co-working companies in Sweden. The growth plan for the next couple of years will put the total size to around 60,000 sqm, including spaces in both Gothenburg and Malmö. Today The Park has around 1300 members from 500 companies.
The key for a The Park location is excellent communications as well as long-term rental agreements.
Apart from geographical expansion, both national and international, The Park is growing via strategic collaborations. Notable, apart from several with some of the most renowned real estate owners in Sweden, is one with IKEA. This collaboration is offering a cost and resource effective way of designing and filling new spaces with quality furniture.
The Park is already showing an operating margin of around 16%, money wholly used for further expansion. Due to the general growth of co-working and the strong brand of The Park, developers are often offering up to one year rental free; thus, the key cost driver of expansion is personnel, primarily within sales.