Hybrid work solutions provider IWG and real estate investment trust (Reit) Attacq have partnered to expand their service offerings in the property industry, responding to the varying office needs and the emerging shift to hybrid working environments.
The two have a combined vision to create a sustainable, unique and flexible solution that will provide a value-based office model to create personal, financial and strategic benefit to businesses of every size, empowering businesses to be their most productive.
Starting with its Lynnwood Bridge and then the Waterfall City precincts, Attacq is broadening its footprint, offering flex-space options which will be managed by IWG.
Attacq says it is confident that IWG has the experience and expertise to provide a workspace solution that will offer Attacq investors more choice and unlimited access to the hybrid world of work, giving each potential and existing client flexibility within a thriving community.
The partnership with IWG, which has had a long relationship with Attacq, aligns at a time when digitalisation and new technologies are transforming the world of work.
Fewer companies will need an office that is just desks, but instead, they will aim for financial flexibility to invest in their staff, supplying a fully equipped workspace, with everything from furniture to super-fast WiFi provided, halving their property costs, releasing capital to invest in generating stakeholder value, the companies point out.
They note that Covid-19 has been a game-changer in the world of commercial real estate. The rapid acceleration of hybrid work, catalysed by the pandemic, has fundamentally changed how and where people work, as well as what businesses want from their offices.
Therefore, the post-pandemic world has offered an opportunity to re-evaluate how the workplace can enhance productivity and employee engagement through the growth of flexible office spaces as an asset class.
Property owners are realising that serviced offices have long been a popular alternative to simply finding one tenant, and demand for flexible working options are only increasing, the companies explain.
Also, 77% of employees say a place to work closer to home is a must-have for their next job move and workers are four times more likely to choose an office closer to home.
Cutting down on the commute is also noted as the single biggest thing a company can do to reduce their carbon footprint.
Further, people want the personal productivity benefits of living and working from where they want to.
Attacq and IWG aim to harness the power of flexible working to increase tenants’ productivity, efficiency, agility and market proximity.