Ioffice Buying United Spaces To Create Sweden’s Largest Flexible Workspace Group

Swedish flexible workspace provider Ioffice Business Group has acquired United Spaces from real estate firm Castellum, creating the largest coworking and serviced office entity in Sweden. The combined group now manages approximately 67,500 square meters of flexible office space across major cities including Stockholm, Gothenburg, Malmö, and Uppsala. This consolidation reflects a maturing market driven by hybrid work models and a shift toward sustainable profitability within the Nordic commercial real estate sector.

The acquisition brings together two of Sweden’s most prominent flexible workspace brands to form a market leader with a nationwide footprint. Ioffice, established in 2007, contributes 35,000 square meters across ten locations in Stockholm and Gothenburg, having grown organically and profitably without external capital. United Spaces, a coworking pioneer founded in 1999, adds ten locations across Stockholm, Gothenburg, Malmö, and Uppsala. While both brands will continue to operate independently, they intend to collaborate closely to improve customer experience and enhance profitability across their combined 67,500-square-meter portfolio.

This deal signals a significant consolidation in Sweden’s flexible workspace market, which is currently one of the most active in Europe. The sector has seen a rising share of total leased office space in Stockholm and Gothenburg attributed to flexible providers as businesses increasingly demand short-term, service-driven solutions. Ioffice leadership described the move as a "paradigm shift" that redefines traditional office leasing, positioning flexible solutions as a fundamental component of the commercial real estate ecosystem rather than a niche offering.

Strategic priorities for the new group include maintaining all existing locations while pursuing further expansion in key Swedish cities. The company emphasized that the industry is evolving from a phase of rapid expansion toward one of sustainable profitability, which benefits members, partners, and property owners alike. By strengthening its leadership position, Ioffice aims to serve as a primary partner for landlords looking to adapt to modern office trends and ensure that flexible workspaces remain a viable, long-term part of property management strategies.