IWG opens new workspace in Camden as part of drive to provide offices in London closer to peoples home

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IWG opens new workspace in Camden as part of drive to provide offices in London closer to peoples home

International Workplace Group, the world’s largest provider of hybrid working solutions with brands including Spaces and Regus, is opening a state-of-the-art flexible workspace in Camden Town. As the adoption of hybrid working rapidly accelerates across North London, the number of enquiries for space in International Workplace Group locations has risen sharply and this new opening helps meet rising demand.

The addition of International Workplace Group’s latest location in North London, following popular sites in Finsbury Park and Highbury & Islington, comes on the heels of the business posting its highest-ever revenue, cashflow and earnings growth in its history and achieving rapid network growth, signing 465 new locations in the first half of 2024 alone.

Located in a canal side location on Camden Street, Spaces Camden is part of a drive by International Workplace Group to meet the sharply rising demand for top class flexible working spaces around London. By bringing a high-quality office and co-working space to Camden, International Workplace Group is enabling local people to experience living in a ‘15-minute’ city, allowing workers to work close to their homes without commuting far from where they live.

Set to open in January 2025, the workspace will provide space for established firms and start-ups across a range of industries including creative, music and technology, while International Workplace Group’s Design Your Own Office service allows companies to tailor their space entirely to their requirements. The new Spaces location will include facilities including private offices, meeting rooms, co-working and creative spaces.

The building owners decided to invest in the International Workplace Group platform to maximise the return on their real estate space by capitalising on the rapidly expanding demand for hybrid working. With an annual investment of around £50m into its technology platform, International Workplace Group provides partners with access to all the company’s expertise as well as design and fit-out support and sales and marketing capabilities.

With explosive market growth as companies of all sizes adopt hybrid working for the long-term, it is predicted that 30% of all commercial real estate will be flexible workspace by 2030. With International Workplace Group, partners are able to capitalise on this fast-growing sector, while being supported by International Workplace Group’s unparalleled experience. Hybrid working offers companies a significantly lower cost base with an average saving of £9,000 per employee[i].

International Workplace Group is the world’s leading provider of flexible workspace – featuring more than 4,000 locations in 120 countries with members able to access all of the locations and business services via the International Workplace Group app.

As the ongoing shift towards hybrid working accelerates, the potential for further growth is exponential with an estimated 1.2 billion white collar workers globally and a total addressable market of more than £1.57 trillion. Conventional office occupancy will continue to fall as businesses require less traditional space and turn to flexible workspace instead. In 2023, International Workplace Group welcomed over 800 new partner locations and counts 83 per cent of Fortune 500 companies among its customer base.

Mark Dixon, CEO & Founder of International Workplace Group PLC, commented: “We are establishing a stronger and much-needed footprint in North London with this latest opening. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal. We are very pleased to further our partnership with WG1 Offices to develop the Spaces brand under a management agreement that will add a cutting-edge workspace to their building.

“The opening of Spaces Camden comes at a time when more and more companies are discovering that flexible working boosts employee happiness and satisfaction, while helping the environment. Our workplace model is also proven to increase productivity and allows for a business to scale up or down at significantly reduced costs.”

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