Change the location of a space and it will inherit from its new parent space.
When you change the location of a space, you may also be moving it into the flow of a different cascade of metadata.
As a result, its metadata catalog, download catalog, and the metadata applied to its files may change.
You can only move a space into other spaces in which you have upload permission.
Spaces can't be put into folders.
Only site admins can change a space’s location to the site level. They must first elevate to perform this action.
Good to know: if you have permission to, you can simply drag a space and drop it into a new location.