Merlin Properties and Loom House have joined forces to increase their commitment to their new company, Twisttt, a WeWork-like company providing shared workspaces, technology startup subculture communities, services for entrepreneurs, freelancers and startups.
Twisttt follows in the footsteps of other unions that this type of business has left in the sector (such as Colonial and Utopicus), Ismael Clemente's investment company (SOCIMI - Sociedades Anónimas Cotizadas de Inversión Inmobiliaria) has just inaugurated its first space on Calle Princesa, in a building owned by Merlin. Now, this joint venture, which links the real estate group's buildings with the know-how of Loom House, is already negotiating the opening of new spaces for the coming months.
The SOCIMI has opened its first Twisttt space at 5 Calle Princesa in Madrid, which offers 1,100 square meters of shared offices and can accommodate up to 150 people. The company plans to open new spaces in other Merlin-owned buildings, although at the moment no specific locations have been decided upon.
A year after it was conceived, Twisttt was launched after the SOCIMI took control of 31% of Loom House, which is led by brothers Paula and José Almansa. Loom House's Impact Hub, the first Spanish coworking company, created ten entrepreneurs.
Loom House launched its first project in 2016, at the Real Fábrica de Tapices in Madrid. This center, located between Julián Gayarre and Vandergoten streets, in Madrid, has an area of one thousand square meters for work positions, 3,000 square meters of gardens and 800 square meters of outdoor workplaces.
In view of the success of its first opening, the Almansa brothers are now focusing on the launch of a second space for Loom House, a brand that will continue to expand independently of Twisttt. This new coworking company, which will be located at 9 Huertas Street (close to Letras de Madrid) will be 1,500 square meters and a capacity for more than 190 people.
The Colonial Catalan was also lured by the charms of coworking, last year. The SOCMI led by Pere Viñoles took a majority stake in Madrid Utopicus to develop a new branch of its business. Utopicus currently has three centers in Madrid, located in the streets of Duque de Rivas, Colegiata and Doctor Esquerdo and one in Barcelona, which opened its doors before the summer.
After the investment of Colonial, Utopicus will boost its business with the opening of new spaces in Spain. The company plans to open a dozen Utopicus spaces in Madrid and Barcelona until 2019. This year, the company will add a minimum of 12,000 square meters of coworking space throughout Spain.