Flexible workspace provider IWG has signed its first Australian franchise deal with Adams Group, the Queensland convenience store and service station operator.
The partnership will open 10 coworking spaces under the Regus brand in Northern Queensland, including the Sunshine Coast, Townsville, Cairns, Noosa, Mackay, Rockhampton, Gladstone, Bundaberg, Hervey Bay and Airlie Beach.
“The appetite for flexible and coworking spaces was booming in Australia pre-Covid and the pandemic has only increased demand,” says Adam Adams, CEO of the Adams Group. “There is a clear gap in the market for a high-quality product in Queensland and our goal is to partner with Regus, the global leader, with a strong brand, professional infrastructure and worldwide network to fulfil this need.”
“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,” says Mark Bhardwaj, IWG’s Head of Partnership Growth in Australia and New Zealand.
“With a strong entrepreneurial spirit and a proven track record in the franchise space, the Adams Group is an ideal partner to grow the Regus brand in Queensland. We are actively looking for franchise partners to capitalise on the growing demand in the flexible workspace industry outside the core CBD areas and are confident in adding another 10 to 20 locations to the Australian footprint by the end of 2020.”
Flexible workspace provider IWG currently operates in 77 locations in Australia, including the addition of Spaces Riparian Plaza in Brisbane and Spaces 60 Martin Place in Sydney in the first half of 2020.
Country Head for IWG in Australia Damien Sheehan says that the new locations have resulted in positive growth for the group.
“Both locations have proven to be successful additions, with strong demand for a high-quality product,” he says. “In October, we will be adding a third location with Spaces Two Melbourne Quarter, located in the Docklands, which will add a further 12,000sqm+ across our growing portfolio.”