IWG reacts to hybrid working demand in Hammersmith

IWG, 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 Hammersmith as the demand for hybrid working rapidly accelerates.

Situated at 12 Hammersmith Grove, this new Spaces location is part of a drive by IWG to meet the sharply rising demand for top class flexible working space in London. Conveniently located just a one-minute walk from Hammersmith underground station and the Hammersmith Broadway, the site will include private offices, meeting rooms, co-working and creative spaces, as well as an exclusive ground floor reception area and lounge.

IWG is growing fast across the UK including in the capital. The company’s most rapid growth is taking place in areas outside of central London including Hammersmith, Battersea, Ealing, Epping Forest, Finsbury Park, Teddington and Wandsworth as the concept of the 15-minute city continue to proliferate with employees seeking a place to work closer to home, eliminating the need for long commutes.

In the first half of 2023 alone, IWG has added 400 locations to its global network and posted its highest ever half-year revenue in its more than 30-year history. Unprecedented demand from companies of all sizes and workers looking for hybrid working solutions means IWG will add around 1,000 new locations over the next year.

According to IWG’s UK research, 77 per cent of employees see a place to work closer to home as a must-have for their next job and around half would quit if forced back to a single central location five days a week. While, the company’s global research has shown that only one in five employees is now prepared to commute for mote than 30 minutes daily.

It is not just employees that are favouring hybrid working, firms are able to operate more efficiently with a more productive workforce and hybrid working offers companies a significantly lower cost base with an average saving of more than £9,000 per employee. The cost-saving benefits paired with the unprecedented demand from companies and workers looking for hybrid working solutions is propelling IWG’s business growth.

Forecasts predict that by 2030, flexible workspaces will comprise 30 per cent of all commercial real estate as businesses of all sizes continue to embrace the hybrid model for the long-term. Partnering with IWG enables property owners and investors to seize opportunities in this thriving sector with many landlords looking for alternative ways to monetise their space following the declining demand for traditional commercial real estate.

IWG is in a phase of rapid expansion and has taken over a number of competitor locations as property owners look to leverage the world’s largest hybrid working platform with proven returns. The owners of 12 Hammersmith Grove decided to invest in the IWG platform to maximize the return on their real estate space by capitalizing on the rapidly expanding demand for hybrid working. With an annual investment of around £50M into its technology platform, IWG provides partners with access to all the company’s expertise as well as design and fit-out support and sales and marketing capabilities.

Mark Dixon, CEO & founder of IWG, commented: “We are very pleased to open our latest state of the art hybrid working space in Hammersmith and expect the location to be very popular as more and more Londoners look to work closer to home, in the heart of their local communities. We are growing fast throughout the capital and will continue to announce further locations to meet customer demand.”

“Our expanding footprint highlights that 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.”

Thomas Sinclair, group chief development officer, IWG, commented: “ As the ongoing shift towards hybrid working accelerates, conventional office occupancy will continue to fall as businesses require less traditional space and turn to flexible workspace instead. This trend is propelling the IWG business forward and the addition of this latest cutting-edge Spaces location in Hammersmith marks a significant milestone in our plans to add around a 1,000 locations globally over the next year”.

“It is a testament to our business model to witness the increasing number of landlords and investors making the switch to IWG, enabling us to add over 400 new global locations in the first half of 2023, with just 5% of them being company-owned. We look forward to continuing our mission to support businesses while nurturing and expanding our relationships with landlords to harness the full potential of our platform and network.”

Spaces Hammersmith will provide space for established firms and start-ups across a range of industries, while IWG’s Design Your Own Office service allows companies to tailor their space entirely to their requirements.

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