Swedish flexible workspace provider Ioffice Business Group has acquired United Spaces from Castellum to create the country's largest coworking and serviced office group with 67,500 square metres of flex space.
Homan Tehrani, Founder and CEO of Ioffice, tells FM Magazine: “This marks both a consolidation and a paradigm shift in the flexible workspace industry.
“Real estate partners need to understand this shift to stay relevant.
The traditional way of leasing office space is being redefined, and flexible solutions are now a fundamental part of that transformation.”
Founded in 2007, Ioffice has grown organically to become one of Sweden’s leading providers of flexible offices, with nine locations in Stockholm and one in Gothenburg totaling 35,000 square meters.
The company has achieved steady, profitable growth without external venture capital, developing a model that combines professional community management with long-term real estate partnerships.
United Spaces, established in 1999, was one of the pioneers of coworking in Sweden and has until now been owned by Castellum.
The company operates ten locations across Stockholm, Gothenburg, Malmö, and Uppsala.
With the acquisition, the combined Ioffice Group manages approximately 67,500 square meters of flexible workspace nationwide.Both brands will continue to operate independently while collaborating to strengthen profitability and long-term growth.
Consolidation drives market maturity
Ioffice sees the deal as a natural part of the ongoing consolidation in Sweden’s coworking and serviced office market, a trend that mirrors developments in other major European cities.
This acquisition strengthens our ability to serve both entrepreneurs and landlords while ensuring that flexible workspace becomes a profitable and sustainable part of the commercial real estate ecosystem.
The market has matured rapidly in recent years, driven by hybrid work patterns, demand for shorter lease terms, and an increased focus on user experience and service.
“Our sector is evolving from rapid expansion to sustainable profitability.
That shift benefits our members, partners, and property owners alike,” says Tehrani. “We believe consolidation is a positive force creating stronger operators and better-managed environments for customers.”
Both Ioffice and United Spaces will remain independent brands within the group.
There are no plans to reduce the number of locations; on the contrary, Ioffice aims to continue expanding in key Swedish cities in close cooperation with property owners who recognize the growing demand for flexible workspace.
A Swedish leader in a growing Nordic market
Sweden is today one of Europe’s most dynamic markets for flexible offices, with coworking accounting for a steadily increasing share of total leased office space in Stockholm and Gothenburg.
As the largest national operator, Ioffice is positioned to play a leading role in shaping the next phase of the market’s evolution.
“Our mission has always been to create spaces where both people and companies can grow,” says Tehrani. “With United Spaces joining the group, we’re entering a new phase that strengthens our leadership in Sweden and helps drive the future of flexible work.”
Visit https://ioffice.se.
