Serviced office group IWG has accelerated investment since its recent trading update. The FTSE 250 group made a number of acquisitions since May, including freehold and long-leasehold buildings that have flexible work spaces. In the UK, there are more than 100 offices in London, with an average rent per square foot of £4,500. Its financial expectations otherwise remain unchanged.
Serviced office group IWG has accelerated investment since its recent trading update. The FTSE 250 group made a number of acquisitions since May, including freehold and long-leasehold buildings that have flexible work spaces. IWG, formerly known as Regus, predicted there would be £230m ($295m) in net growth capital expenditure this year with the creation of 4.8 million sq ft in nearly 280 locations. Its financial expectations otherwise remain unchanged.