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WeWork Cancels Plan for London Canary Wharf Office Space

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Photographer: Simon Dawson/Bloomberg

WeWork Cos., the world’s largest shared-workspace startup, has pulled out of talks to lease space in London’s Canary Wharf financial district, according to two people with knowledge of the matter.

The New York-based company won’t proceed with a plan to lease 45,000 square feet (4,180 square meters) at the 7 Westferry Circus building, the people said, asking not to be identified because the matter is private. WeWork has also put on hold less advanced plans to lease space at a building due to be developed at the new phase of Canary Wharf, the people said. It’s the first time WeWork has cancelled a deal in the U.K. capital.