Based on increased demand for flexible workspaces that “inspire creativity, encourage collaboration and meet the needs of a changing mobile workforce and entrepreneurial economy,” iQ Office Suites has opened another shared office in Toronto.
This new space, located at 250 University Avenue downtown, is housed in the historic former Bank of Canada Building.
According to PwC and the Urban Land Institute’s Emerging Trends in Real Estate 2015 report, Toronto has seen an “ongoing migration of people and businesses back to the (urban) core” with office tenants demanding new amenities, workspace configurations and features “to attract and retain today’s talent.”
In line with iQ’s commitment to amenities, the University Avenue location features private offices, pods, dedicated desks and a 4,500-square-foot iQ members’ lounge housed in the former Central Bank’s bullion vault.
Talent, whether at a startup, self-employed, or part of a large organization, is likely to require flexible, affordable work spaces. In fact, a recent study by Wix and Officevibe noted that by 2020, nearly 40% of workers will be independent contractors, freelancers, solo entrepreneurs or temporary employees.
“With the rise of a mobile workforce and increasing prime real estate costs in Toronto, business owners and entrepreneurs are seeking affordable and adaptable office spaces that provide stellar amenities, opportunities to connect with like-minded individuals and access to a host of on-premise services so they can spend more time networking and growing their businesses,” said Alex Sharpe, cofounder of iQ Office Suites.
iQ cofounder Kane Willmott believes “the opening of our second location further fuels established organizations, service providers and independent workers to expand into new markets and grow their organizations.”
iQ Office Suites was founded in 2012.