IWG has cut the ribbon on a new Regus centre in Townsville, as the workspace provider looks to expand further along the coast of Queensland.
After striking it’s first Australian franchise partnership with the Adams Group in September 2020, IWG will create further ‘flexspaces’ in addition to Townsville, located on the Sunshine Coast, as well as Cairns, Noosa, Mackay, Rockhampton, Gladstone, Bundaberg, Hervey Bay and Airlie Beach, to account for the increased demand for flexible office space among local businesses and entrepreneurs.
The Townsville centre’s floor area is around 700sqm, with several 2, 4, 6+ workstation offices available to lease. The first customers commenced moving into the centre on June 10 with the Regus centre officially opening on June 17.
IWG’s Head of Partnership Growth in Australia and New Zealand, Mark Bhardwaj, says the nature of many businesses in Townsville makes its new Regus centre ideal for its occupants.
“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. Within Townsville is a strong entrepreneurial spirit and we are proud to foster that spirit through this new centre,” he says.
“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.”
Life Legal, a Family Law firm based in Townsville, is one of the first businesses to move into the space.
“Regus was a perfect fit for us,” says Life Legal’s Kerrie Stuart.
“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.”
As an investment, flexspace is a tried and tested business model, promising low staffing requirements and strong customer retention rates. The offices are leased on a contract-based nature, meaning fewer recurring customers are required for garnering a profit, making it ideal for those looking to strike a deal with the workspace provider.
“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 percent better on total occupancy than those in the city network. 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,” says Damien Sheehan, Country Head for IWG in Australia.
The Townsville Regus centre is located at 2nd Floor/280 Flinders St, Townsville QLD 4810. For more information regarding the centre, click here.