IWG, the world’s leading operator of hybrid work solutions have refitted the vacant first floor space, under their Spaces brand after signing an agreement with the council for the Victoria Square facility, next to the city’s £150 million transport Interchange and i9 and i10 office complexes.
The 10,000sqft first floor at i11 will offer serviced workspaces and meeting facilities for up to 250 people under the IWG premium Spaces coworking brand.
The new coworking space will provide a solution for businesses of all sizes, including those that may have started their business at IGNITE in the neighbouring i10 building.
As well as improving skills and employment opportunities, the spend by occupiers is estimated to add £600,000 a year to the local economy.
IWG already has experience of partnering successfully with 25 local authorities on similar projects – and run successful service office accommodation within Wolverhampton city centre at 84 Salop Street.
Councillor Paula Brookfield, the council’s cabinet member with responsibility for city assets, said: “This scheme brings a valuable space back into use and will provide a fully managed office service solution that will boost the local community with new jobs and encourage new businesses into the city, benefitting local economic growth and thereby supporting the Wolverhampton Pound.
“Organisations need less long term commercial office space and are turning to shorter term agreements or new arrangements with flexible workspace providers such as IWG.
“The council therefore needs to respond positively and adapt its strategy to offer both potential corporate occupiers and local businesses that have the potential to grow high quality office space on a more flexible basis, to meet the change in demand for space and their specific requirements.
“We are confident the i11 building will prove a popular option, along with its strong transport links to the Wolverhampton Interchange, it now increases the variety of office space available in the city and provides a major opportunity for economic development.”
Mark Dixon, Founder and CEO of IWG, said: “We are very pleased to be partnering with the City of Wolverhampton Council on this latest opening. It 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.”
