Great Ikea hack for console wheel

I was looking for a good solution to mount a console wheel that I intend to buy. GameRacer Pro cost around £290 without the wheel. It is good if I got the money to burn. Eventually budget has landed me to this Ikea Hack where the whole configuration set cost less than £60. It does require to drill a hold and several screws to the paddle.

Update: I also came across this wheelstandpro foldable support, cost £85 delivered