IWG, a leading provider of hybrid work solutions, has added 612 new locations since January this year. An overwhelming 95% of these are being delivered via managed partnership agreements, delivering on IWG’s capital-light strategy.
The rapid growth in new locations is being driven by property owners and partners seeking to capitalise on the burgeoning demand for hybrid working. Many of these property owners have vacant space to fill with the decline in demand for traditional office real estate. They are choosing to partner with IWG’s hybrid working platform and benefit from a choice of multiple brands including Regus, Spaces, HQ and Signature.
Mark Dixon, Founder and CEO of IWG says, “Today, we are continuing to witness the unprecedented rise of the ‘great lease resignation’. Businesses of all sizes are terminating their long-term commercial office leases and replacing them with shorter-term agreements with flexible workspace providers like IWG. As a result, we’re seeing strong interest from a growing cohort of property owners and investors seeking to capitalise on the rising demand for hybrid working solutions by partnering with the global leader. It is this fundamental shift that is fuelling the rapid growth of the IWG network”.
IWG is working with landlords and developers to transform conventional spaces into dynamic and thriving work environments for workers while generating substantial and sustainable revenue streams for its partners. IWG added 462 new locations in 2022 alone, so this new milestone represents significant growth.
A sizeable proportion of IWG’s new locations are in the suburbs, smaller towns and cities which are seeing the strong demand for hybrid working solutions, with the group expanding its network locations deep into the heart of the communities where they are needed.
The flexible workspace sector is projected to grow by 600% by 2030, and data from Indeed, the world’s largest job site, has reported a staggering 6,531% year-on-year increase in searches for ‘hybrid’ in 2022.
As businesses embrace hybrid working for the long term, IWG’s solutions become a strategic advantage for property owners seeking to capitalise on this growing trend.
Dixon, adds: “We have accelerated our capital-light growth strategy allowing us to capitalise on the growing pipeline of property investors seeking to maximise their returns by partnering with us. We signed as many agreements in the first half of this year as we did in the whole of 2022, and we continue to accelerate. The fast-increasing coverage provided by our global network is a key competitive advantage.”
