Serviced-office operator IWG has announced it will sell its Japanese arm for £320 million as it becomes known as a franchisor rather than a landlord.
First, the company will sell 130 coworking offices to property firm TKP Corporation, who contributed £94.4 million to IWG’s revenues last year. This deal will allow TKP to use IWG’s brand names, such as Regus and Spaces.
The company hopes to expand its partnership model that allows landlords to use its brands for a fee.
