27 March 2023
By Elaine Murphy
elaine@TheCork.ie
“Two local dairy Co-ops Drinagh and Lisavaird are planning to open a state of the art REGUS flexible workspace in West Cork Business & Technology Park, Clonakilty in partnership with IWG, as the demand for hybrid working rapidly accelerates.”
Opening in Summer 2023, REGUS Clonakilty will be impressive 8,200 Sq Feet workspace which will accommodate 120-150 people and will include co-working spaces, private offices, meeting rooms and a business lounge.
REGUS new Cork location is part of the drive to provide top class facilities in in a wide variety of regional locations across Ireland as hybrid working becomes a reality for more workers.
This opening follows a partnership agreement with the building owners, who have invested in the IWG platform to create a branded flexible workspace in their building.
The location is a key milestone in IWG’s plan to add 1,000 new locations globally over the next year.
IWG, the world’s largest provider of hybrid working solutions with brands including Spaces and Regus, is planning to open a state-of-the-art flexible workspace in West Cork Business & Technology Park, Clonakilty as the demand for hybrid working rapidly accelerates. This opening is being delivered in partnership with two local Dairy Co-ops – Drinagh and Lisavaird, who chose the IWG flexible workspace platform and have entered into a management agreement with the REGUS brand.
Unprecedented demand from companies of all sizes and workers looking for hybrid working solutions means IWG will add 1,000 new locations over the next year. Hybrid working offers companies a significantly lower cost base with an average saving of over €11k per employee[i].
Cork is one of Ireland’s fastest growing regional locations. Demand for workspaces in the area has performed strongly, with the number of enquiries for space in IWG locations continuing to sharply increase.
Drinagh and Lisavaird Dairy Co-ops decided to invest in the IWG platform to maximise the return on their real estate space by capitalising on the rapidly expanding demand for hybrid working. With an annual investment of around €50m into its technology platform, IWG provides partners with access to all the company’s expertise as well as design and fit-out support and sales and marketing capabilities.
REGUS new offices in Clonakility, West Cork will comprise of a variety of facilities including private offices, meeting rooms, co-working space and a business lounge. Situated in Building A, West Cork Business & Technology Park, this new location is part of a drive by IWG to meet the sharply rising demand for top class flexible working space in Cork. The building will host already established firms and start-ups across a range of industries in West Cork, accommodating between 120-150 people.
IWG is the world’s leading provider of flexible workspace – with 3,500 locations in more than 120 countries with members able to access all of the locations and business services via the IWG app.
Example of what new office will look like
A similar Regus location gives an example of the decor and lighting that will be used in Clonakilty
As the ongoing shift towards hybrid working accelerates, conventional office occupancy will continue to fall as businesses require less traditional space and turn to flexible workspace instead. In 2022, IWG welcomed hundreds of new partner locations and is on track to add around 1,000 over the course of the next year. IWG already counts 83 per cent of Fortune 500 companies among its customer base.
Mark Dixon, CEO & Founder of IWG, commented: “We are establishing a stronger and much-needed footprint in Ireland with this latest opening in Cork. As an important business hub, Clonakilty is a fantastic place for us to boost our expansion plans. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal. We are very pleased to work in partnership with Drinagh and Lisavaird Co-ops to develop the REGUS brand under a management agreement that will add a cutting-edge workspace to their building.
“Our opening in West Cork Business & Technology Park in Clonakility comes at a time when more and more companies are discovering that flexible working boosts employee happiness and satisfaction, while helping the environment. Our workplace model is also proven to increase productivity and allows for a business to scale up or down at significantly reduced costs.”
Pat Moriarty CEO Lisavaird Co-Op and Seamus Daly CEO Drinagh Co-Op commented: “As two companies imbedded in the West Cork community for almost 100 years, we are excited by this opportunity to partner with IWG in creating a local employment hub. This facility will allow people, who currently have to travel out of West Cork, the chance to work locally as well as providing workspace for individuals and companies who may wish to establish themselves here.
IWG’s multi-brand expansion strategy is designed to appeal to every type of business and entrepreneur. IWG creates personal, financial, and strategic value for businesses of every size, from some of the most exciting companies and well-known organisations on the planet, to individuals and the next generation of industry leaders. All of them harness the power of flexible working to increase their productivity, efficiency, agility, and market proximity.
About IWG PLC
“IWG is the global leader in hybrid work solutions and workspace brands. We create personal, financial, and strategic value for businesses of every size. From some of the most exciting companies and well-known organizations on the planet, to individuals and the next generation of industry leaders. All of them harness the power of IWG’s hybrid working platform to increase their productivity, efficiency, agility, and market proximity.
IWG’s unrivalled network coverage includes approximately 3,500 locations across more than 120 countries and 83% of Fortune 500 companies are amongst our growing customer base.
Through our brands including Regus, Spaces, HQ and Signature, we help millions of people and their businesses to work more productively. We do so by providing the world’s leading hybrid work platform with professional, inspiring and collaborative workspaces and digital services all available via the IWG app. For more information
Visit www.iwgplc.com and for more information on partnering with IWG, see: https://www.iwgplc.com/develop-a-location“
