High growth targets at IWG Switzerland
Coworking provider IWG Switzerland plans to significantly expand the space it offers by next year. In this country, the company is represented at 35 locations with its Regus and Spaces brands.
IWG has been present in Switzerland since 1990; the company is now present in 18 Swiss cities and all regions of the country. And further growth is planned: According to IWG, the focus is not only on large metropolitan areas, but also on smaller cities such as Winterthur or Etoy.
In 2018, the company offered flexible working on around 40,000 sqm, with a further 30,000 sqm to be added in the current year. Four new locations have already been opened in the first quarter of 2019, and a total of 15 new openings will be added by the end of 2020.
In Geneva, the number of locations for both the Spaces and Regus brands will increase from six to 11 by the end of the year, and in Basel, the number of IWG locations will double from two to four, the company said. The goal is to operate a network of 100 locations in Switzerland with approximately 150,000 sq. ft. of workspace with the Regus, Spaces, No 18, Signature by Regus HQ brands before 2025, it said.
At the same time, IWG launches a franchising model for coworking. Garry Gürtler, Managing Director of IWG Switzerland, says: "The coworking market is growing by 30% annually and is accordingly very exciting for investors who want to diversify their portfolio." For an average investment, he says a target return of around 20% can be expected. (ah)
