The holding company IWG’s hybrid co-working spaces brand Spaces and the developer of the Zunda Towers have signed an agreement, according to which the holding company IWG’s brand Spaces will occupy three floors with an area of 2,348 square metres in the Zunda Towers high-rise buildings.
The premises will be used as hybrid co-working spaces, with the possibility of creating fully customised and serviced areas for clients.
It is planned that the fit-out works on the premises will be completed in about six months and Spaces will be open for use.
We provided the Tenant with full-scope legal assistance to negotiate and reach a final agreement based on Spaces’ international business model, which is still relatively new in the Baltic market. Our advice also included legal arrangements for profit sharing, fit-out works, securities, indexation and investment amortisation. Last autumn Sorainen provided the same assistance for the opening of the brand Regus at Business Garden, developed by Vastint, in Riga.