Donnybrook set to become new Spaces Location as Demand for Hybrid Working Accelerates

IWG (International Workplace Group), the world’s largest provider of hybrid working solutions with brands including Spaces and Regus, is opening a state-of-the-art flexible workspace in Donnybrook House, Dublin 4 as the demand for hybrid working rapidly accelerates.  The building is owned by MM Capital, a privately-owned real estate development and investment firm. 

Situated in the centre of Donnybrook, this new Spaces location is part of a drive by IWG to meet the sharply rising demand for top class flexible working space in Dublin. Spaces will provide 215 desks across 70 private offices, meeting rooms, call booths, co-working and creative spaces, as well as a business café.  Donnybrook House is conveniently within 10 minutes of St Stephen’s Green, close to Ballsbridge, the home of Facebook’s new European HQ. The locale is rich with amenities and boasts the 32-acre landscaped Herbert Park. 

In 2018, Donnybrook House underwent extensive refurbishment under the creative guidance of award-winning architects Henry J Lyons, transforming it into a modern Grade A office accommodation with excellent amenities. The building features high-standard office floors with abundant natural light, contemporary finishes, and tenant amenities such as showers, changing rooms, and bicycle parking.  

According to recent IWG research 77% of employees see a place to work closer to home as a must-have for their next job, and around half would quit if forced back to a single central location five days a week, while the company’s global research has shown that only one in five employees is now prepared to commute for more than 30 minutes daily. 

It is not just employees that are favouring hybrid working, firms are able to operate more efficiently with a more productive workforce, and hybrid working offers companies a significantly lower cost base with an average saving of more than €11,000 per employee. The cost-saving benefits paired with the unprecedented demand from companies and workers looking for hybrid working solutions is propelling IWG’s business growth.

Forecasts predict that by 2030, flexible workspaces will comprise 30% of all commercial real estate as businesses of all sizes continue to embrace the hybrid model for the long-term. Partnering with IWG enables property owners and investors to seize opportunities in this thriving sector with many landlords looking for alternative ways to monetise their space following the declining demand for traditional commercial real estate. 

IWG is in a phase of rapid expansion and has taken over a number of competitor locations as property owners look to leverage the world’s largest hybrid working platform with proven returns. The owners of Donnybrook House, MM Capital decided to partner with IWG to maximise the return on their real estate space by capitalising on the rapidly expanding demand for hybrid working. With an annual investment of around £50M into its technology platform, IWG provides partners with access to all the company’s expertise as well as design and fit-out support and sales and marketing capabilities. 

IWG is one of the world’s leading workspace providers. They help more than eight million people and their businesses to work more productively across the planet by providing a choice of professional, inspiring and collaborative workspaces, communities and services. They recently opened REGUS in Clonakilty at West Cork Business & Technology Park as well Spaces in Dublin Airport Central.