Virtual office space lettings up 175%

REGUS, the world’s largest provider of serviced offices, said it has seen a 175% increase in lettings in Ireland, as recession-battered companies and entrepreneurs look for its services.

It said it is finding that companies are looking to save money on commercial property costs as more businesses equip employees with Blackberrys and laptops and move them out of the main office as a way of reducing expenses.

Regus said its four Irish locations in Dublin and Cork have reported a 175% increase in companies taking virtual office space since June last year.

Regus regional manager for Ireland, Michael Barth, said: “During these challenging economic times, employers are embracing flexible workplace practices as a key business strategy.

“We’ve also seen an increase in entrepreneurs who are looking for a base with all the benefits of a staffed office without the hefty up-front costs of long-term commercial contracts.”

Based on Regus calculations, companies can save up to 80% on their real estate costs by implementing flexible workplace strategies.

Mr Barth also said that the company is considering expanding its services in Ireland. He said it would consider another location in Dublin and also in Limerick.