A prominent workspace provider in Britain is expanding its reach to new international destinations, driven by the aspirations of young individuals for sunshine and travel opportunities.
The private equity firm Inc & Co is investing €1.5 million (about £1.28 million) into incspaces, its brand specializing in flexible working environments.
These new locations will be established in strategic markets worldwide, spanning Europe, the US, the Middle East, and Asia.
The expansion initiative begins with Barcelona, a city that boasts a sizable expatriate community of over 22,000 British residents, as reported in 2022 statistics.
The decision to venture into flexible workspaces is fueled by increasing demand, particularly from contemporary companies aiming to attract millennial and Gen Z employees.
With the increasing popularity of a nomadic lifestyle among younger demographics, who seek to combine work with travel, it becomes imperative to expand beyond British borders.
The Dublin office, set to open this quarter, has already secured an impressive 95% pre-let occupancy rate. Furthermore, additional sites are in the pipeline, including Dublin, USA, Bangkok, and Amsterdam.
According to Jack Mason, Group CEO of Inc & Co, the company is investing €1.5 million into two new European buildings as part of a strategic realignment for incspaces.
This move aims to position the company to capitalize on emerging opportunities and establish a robust international presence. Mason emphasized the company’s commitment to supporting clients’ growth and success by providing flexible, high-quality work environments tailored to their business needs.
The company’s agenda goes beyond merely opening new offices; it entails a comprehensive review of its flexible workspace brand strategy.
This includes plans to “revitalize” its leadership team to “drive growth.”
As part of this strategic shift, Incspaces has chosen not to renew its leases for its London offices.
However, the brand has introduced a novel concept tailored for startups and entrepreneurs called Infinity Office.
This space allows members to utilize facilities on a casual basis, receive mail services, attend meetings, and participate in events without the obligation of committing to physical space.
The Infinity Office service, launched earlier this month, has already piqued the interest of startups, particularly those in Manchester.
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