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.
"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.
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
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