Spain: CustomSuits to invest 3M euros to open 5 coworking offices

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The company plans to open its next workspace in Alicante and is also working to land in cities such as Madrid, Barcelona and Valencia

CustomSuits accelerates to open new centers. The company born from the alliance between Networkia Business Center and Business World Alicante expects to invest three million euros in the opening of five new flexible workspaces, as explained by the Founder of Networkia Business, Juanjo Martínez.

Specifically, the company has "advanced negotiations" to open a new coworking in Alicante, while it is in talks to close new spaces in Barcelona and Madrid, in addition to another space in the capital of the Costa Blanca. Currently, the company manages three flexible work centers in Madrid, two more in Barcelona and one last in Alicante.

In any case, Martínez assures that the rhythm of openings "will go in crescendo" and that "the involvement we have will be setting the pace" of new spaces. In addition, he points out that CustomSuits does not have any investors with which to account, but that “who pressures us to continue growing is the market”.

The company specializes in converting real estate assets into flexible workspaces. To do so, in June it closed an agreement with the subsidiary of reforms and construction of El Corte Inglés.

For its part, CustomSuits is responsible for studying the feasibility of a specific property to convert it into a flexible work center, create and manage it until it is profitable. When it succeeds, the company leaves its management and the owner of the asset must decide whether to continue with the management or sell it.

In addition, the company provides all the services that the owner of the asset may need, from the business plan to the corporate image and communication of the space, through the execution of the work.

In the event that the owner finally decides to divest, the company is also responsible for assessing the asset and the entire sale process by the consultants CBRE and Cushman & Wakefield, who are responsible for both the search and the subsequent commercialization of the estate.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

Join us November 13-15 for the Property Portal Watch Conference Madrid 2019.