Ioffice Business Group, a Swedish provider of flexible workspaces, has acquired United Spaces from real estate company Castellum, forming the largest coworking and serviced office group in Sweden. The combined entity now manages approximately 67,500 square meters of flexible office space nationwide.
The acquisition marks a significant step in the evolution of Sweden’s flexible workspace market, which has expanded rapidly in recent years due to hybrid work models and increased demand for short-term, service-driven office solutions. Ioffice, founded in 2007, has grown organically to become one of Sweden’s leading flexible office providers, with nine locations in Stockholm and one in Gothenburg, totaling 35,000 square meters. The company has maintained steady, profitable growth without external capital, building its model around professional community management and long-term real estate partnerships.
United Spaces, founded in 1999, is widely recognized as one of the pioneers of coworking in Sweden. Formerly owned by Castellum, it operates ten locations across Stockholm, Gothenburg, Malmö, and Uppsala. Both Ioffice and United Spaces will continue to operate independently under their respective brands but will collaborate closely to enhance profitability, customer experience, and long-term market leadership.
The combined group views the acquisition as both a consolidation and a signal of maturity in Sweden’s flexible workspace market. Ioffice expects the deal to support its strategic growth while reinforcing its position as a trusted partner to property owners seeking to adapt to new office trends. The company also noted that there are no plans to close existing locations and that future expansion in key Swedish cities remains a priority.
Sweden is now one of Europe’s most active markets for coworking and flexible offices, with a rising share of total leased office space in Stockholm and Gothenburg coming from flexible providers. With this acquisition, Ioffice is positioned to play a leading role in defining the next phase of growth and innovation within the Nordic market.
KEY QUOTES:
“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.”
“Ioffice has built its business on long-term relationships and a deep understanding of how people and businesses actually use office space. 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.”
“Our sector is evolving from rapid expansion to sustainable profitability. That shift benefits our members, partners, and property owners alike. We believe consolidation is a positive force creating stronger operators and better-managed environments for customers.”
“Our mission has always been to create spaces where both people and companies can grow. 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.”
Homan Tehrani, Founder and CEO of Ioffice
