IWG flags rising demand for suburban offices with firms cautious over cities
◆ Demand for office space is booming in the suburbs as coronavirus sparks a major shift in working life, property firm IWG has said, writes Rachel Millard.
With employers hesitant to herd commuters back into city centre offices, more businesses are setting up satellite sites on the outskirts of cities such as Manchester, London and Birmingham. Mark Dixon, chief executive of the office provider, said demand had increased by as much as 30pc. He said: “Many companies are moving wholesale to decentralised working. Where we have some difficulty is in major metropolitan centres. There are enough available buildings; if not we will build.”
The company, which owns brands such as Regus and Basepoint Business Centres, reported a 3.5pc increase in revenue to £1.3bn during the six months to the end of June.
A strong performance in the first quarter helped balance out a difficult April to June when the effects of lockdown hit.