World’s largest provider of hybrid working solutions adds new workspace in Northern Ireland as demand rises

The world’s largest provider of hybrid working office space is opening a new state-of-the-art flexible workspace in Newry.

IWG, whose brands including Spaces and Regus is is opening a state-of-the-art flexible workspace in County Down, as the demand for hybrid working rapidly accelerates.

The addition of IWG’s latest location in Newry comes on the heels of the business posting record quarterly revenue and achieving rapid network growth, adding 867 new locations over the course of 2023.

Newry is one of County Down’s fastest growing regional business locations and demand for workspaces in the area has performed strongly. The number of enquiries for space in IWG locations has risen sharply as local people adopt hybrid working at pace, actively seeking out ways to cut their commute, work closer to home and live in a ‘15 Minute City’.

Situated on Kilmorey Street, the new Regus location is part of the drive by IWG to meet this demand, bringing a high-quality flexible workspace to Newry that will offer facilities including private offices, meeting rooms, co-working and creative spaces.

The building will provide space for established firms and start-ups across a range of industries including engineering, hospitality, education and health, while IWG’s Design Your Own Office service allows companies to tailor their space entirely to their requirements.

The building owners decided to invest in the IWG 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, IWG 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 IWG, partners are able to capitalise on this fast-growing sector, while being supported by its unparalleled experience. IWG is the world’s leading provider of flexible workspace, featuring 4,000 locations in more than 120 countries, with members able to access all of the locations and business services via the IWG app.

Mark Dixon, CEO and founder of IWG, said: “We are establishing a stronger and much-needed footprint in County Down with this latest opening, and Newry is a fantastic place for us to boost our expansion plans. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the default for companies of all sizes. We are very pleased to work with partners to develop the Regus brand, under a management agreement that will add a cutting-edge workspace to their building.

“Our opening in Newry 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.”

Adrian Toner, director of Newros Holdings Ltd and property owner of 30 Kilmorey St, added: “During my career I have used and have long been an advocate of Regus serviced offices as a means of flexible working within a high-quality environment. As a native of Newry, I am proud to partner with such a global company as IWG plc to bring this unique offering to the city.”

Hybrid working offers companies a significantly lower cost base with an average saving of £9,000 per employee and 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, IWG welcomed over 800 new partner locations and counts 83 per cent of Fortune 500 companies among its customer base.