Capital move next as £5m workspace opens doors

THE FIRM behind Glasgow’s latest flexible co-working space has revealed that up to £5 million was spent on the venture, with an Edinburgh facility also being planned.

Spaces opened in Bath Street last Monday and is now looking to expand into the capital as it targets new tenants beyond the number signed up to the Glasgow facility ahead of its launch.

Chief executive Richard Morris said: “Glasgow is one of the main cities in the UK and we target places that have diverse, vibrant local economies. Glasgow has a wide range of different types of businesses and big universities.”

The Glasgow project was a joint venture with the owner of Tay House in Bath Street aimed at attracting start-up business owners, with a focus on growing digital and technology companies.

Describing it as a “go to” space, Mr Morris added that it was a place where business owners could meet, collaborate, and create a community. “It also taps into the fact that big companies want to mingle with small businesses,” he said.

He added: “Edinburgh and Glasgow would be the two main locations [in Scotland]. As most people know, the economy in Aberdeen isn’t in great shape so we’re focusing on those two cities. We’re looking at Edinburgh now.”

Part of IWG (International Workplace Group), which was founded in the Netherlands in 2006, Spaces already has hubs in London and Gerrards Cross in the UK and is set to open in several locations across the country. Internationally, the company has a presence in the Netherlands, the US, Australia, Japan, Singapore and Mexico.

Spaces aims to open 100-150 global locations this year.

“We’re catering for the growing demand from businesses of all sizes for good quality conveniently located workspace that they can use on a flexible basis,” said Mr Morris.