- Entrepreneurial activity has increased in Northern Queensland
- Currently a franchise agreement between IWG and Adams Group
- IWG currently has 71 offices across Australia
One of the post-pandemic shifts analysts are forecasting is a move towards more flexible working arrangements.
IWG – formerly known as Regus – is betting this trend continues, opening a new flexible workspaces centre in Townsville, Queensland.
The office is just the first of a proposed ten ‘flexispaces’ centres to be opened as part of IWG’s franchise with the Adams Group which began last September.
Centres are set to be located in the Sunshine Coast, Cairns, Noosa, Mackay, Rockhampton, Gladstone, Bundaberg, Hervey Bay and Airlie Beach.
The 700sqm centre contains several 2, 4 and 6-plus workstation offices. Due to the contract-based nature of flexible office services, fewer recurring customers are needed to generate a healthy profit – in contrast, to say, a dining outlet – making it a relatively robust business model.
Local family law firm Life Legal is one of the first businesses to move into the new centre. Life Legal’s Kerrie Stuart is pleased with the centre, stating that “Regus was a perfect fit for us”.
“The appetite for flexible and coworking spaces was booming in Australia pre-COVID and the pandemic has only increased demand.
“There is a clear gap in the market for a high-quality product in North Queensland and our employees are looking forward to enjoying the flexibility offered by Regus within this brand-new centre.”
Kerrie Stuart, Life Legal
IWG’s Head of Partnership Growth in Australia and New Zealand, Mark Bhardwaj, said he hopes the centre complements Townsvile’s “strong entrepreneurial spirit” and hopes the centre fosters the spirit.
“The franchise concept offers our partners the unique opportunity to make an attractive, high-yield investment with the know-how of the market leader and their local expertise,” he said.
“We want to create a true global and national network – and that’s where franchising comes in. The market is moving fast. We need to move faster and faster, and we want to find franchise partners who can help us dial up the pace of the growth of our brands.”
Mark Bhardwaj, IWG Head of Partnership Growth ANZ
According to the Australian Bureau of Statistics (ABS), Queensland was the most popular distancing for those migrating interstate last year, recording a net gain of 30,000 people. Regional Queensland in particular saw migration soar to record levels.
Currently, IWG has 71 locations across Australia with two new locations in 2020; one was Spaces Riparian in Brisbane and Spaces 60 Martin Place in Sydney.
“We have several centres located in suburban and regional areas, in addition with CBD locations. During the pandemic, IWG’s suburban centres performed on average 20 per cent better on total occupancy than those in the city network,” said Damien Sheehan, Country Head for IWG in Australia.
“We have now seen post the pandemic that our suburban and regional centres are receiving more inquiries from those looking to work in an office closer to their place of residence.”