Back To Daily Digest
Tags: BUSINESS

IWG sells all 122 Japan locations as franchise; Shares rise 23%

IWG has marked its first franchise sale as it sold its Japanese arm for £320 million to real estate company TKP Corporation.

The deal will provide TKP all of Regus Japan Holdings, including 130 coworking spaces. The company’s share price rose 23% after the deal was announced.

Now, TKP has the rights to use the Regus, Spaces, and Open Office brands and IWG will continue supporting the Japanese-based real estate firm through sales, marketing, operations, and technology for a share of its revenues.

The Latest News
Delivered To Your Inbox

“The transaction realises an attractive valuation for IWG’s shareholders and re-affirms our strategy of capital efficient growth in IWG’s global network with an increased emphasis on partnerships,” said Mark Dixon, chief executive of IWG, who will join TKP’s board as a non-executive director. “We look forward to working with TKP for many years to continue our network development in Japan.”

Latest on Daily Digest

IWG Turns To McDonald’s To Have An Edge Over WeWork

Major office space provider IWG has started adopting the franchisor model, pioneered by fast-food company McDonald’s, in its effort to edge further away from WeWork.
Coworking Companies Are Helping Fuel Struggling Malls

America’s malls are becoming more and more vacant, but coworking companies are taking advantage of these empty spaces to expand their services in a nonconventional way.
Knotel Signs Three New Leases Across Central London

Flexible workspace provider Knotel has once again expanded its presence in central London, signing three new deals across the city totaling 40,000 square feet.
Coworking Franchisor Office Evolution Continues To Expand In South Carolina

Office Evolution, the nation’s biggest coworking franchisor, will expand its footprint in Mount Pleasant as it continues to cater to small business owners in the area.
How To Establish Flexibility In The Workplace

Flexibility in the workplace has become key in attracting talent, but properly implementing such arrangements ensures employees are fully satisfied with the organization.
Tier II Cities Are The Next Big Hub For The Startup Community

Although coworking spaces are often categorized as servicing major cities, tier II cities are having their moment as many startups continue to flood into these areas.
The Riveter CEO Says Lack Of Gender Equality Is A Deal Breaker

Amy Nelson, CEO of The Riveter, has made it her business to promote inclusivity of women in professional settings while also providing men tools to value gender equality.
WeWork Backs Away From Five Hong Kong Spaces

Coworking firm WeWork has reportedly backed out of at least five negotiations to occupy office space in Hong Kong, possibly indicating the company’s financial restraints.
Do Coworking Space Brands Have A Direct Impact On Members?

A survey of 1,000 WeWork members found that, while some use the space out of convenience, others find the culture to have an effect on their professional identities.
Can We Still Expect To See A WeWork IPO This Year?

While WeWork is expected to file for an IPO this year, its valuation and recently announced losses have left investors worried about the sustainability of the company.
IWG seeks to improve balance sheet and get better returns on capital through franchising

IWG has started rolling out a franchise model, similar to that of McDonald’s, enlisting franchisees to take the reins in subleasing Regus and Spaces offices to companies.
Novel Coworking Purchases Denver’s Trinity Place For Nearly $40 Million

Chicago-based Novel Coworking has purchased Denver’s 195,753 square foot, 17-story boutique office property Trinity Place in Uptown that is currently 65% leased.
Ad

FOLLOW US

  • Facebook
  • Twitter
  • LinkedIn
  • RSS
  • instagram
  • pinterest
Ad

POPULAR ARTICLES