(Bloomberg) -- Blackstone Inc. has held informal talks with advisers over a £1.5 billion ($1.9 billion) sale of The Office Group amid a pickup in demand for flexible working space, according to a Telegraph report.

The private equity firm is aiming for a deal in the first quarter of 2025 with a sale or stock market listing among possible options, the Telegraph reported, citing sources it didn’t identify. A Blackstone spokesperson told the newspaper that the company has no plans to exit the business in the foreseeable future and hasn’t appointed any advisers.

Blackstone has been building its flexible office brand in the UK capital as the sector has rebounded following the pandemic and the bankruptcy filing of WeWork Inc. in the US. The company rebranded its flexible office platform last year following its merger with Brockton Capital’s Fora.

Blackstone originally acquired a majority stake in The Office Group from Lloyd Dorfman in 2017 in a deal that gave the company an enterprise value of £500 million, according to a press release at the time. 

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