IWG has been quietly building up a fund to acquire flexible offices for its Regus and Spaces brands.
Under the auspices of Regus Property Partners, which was set up two years ago and is run by former Benson Elliot partner Phil Irons, IWG is understood to have built up a £150m portfolio.
Up to now, it has been funded internally but is now looking to raise third-party capital with a view to growing the size of the fund to £500m.
Regus Property Partners targets operating businesses and freehold vacant properties, mainly in the South East, with the aim of refurbishing them and managing them as serviced offices under IWG’s brands.
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