Coworking stats show an increasing trend of businesses of all sizes taking up space in coworking spaces. This is a shift away from what most long believed, that coworking spaces were generally home to startups.
A recent article headlined “Sydney’s Coworking Spaces Now Embraced by More than Just Startups” discusses the phenomena as follows:
Coworking space has grown by almost 300 per cent across Australia since 2013, to 193,000 square metres over the six capital cities, a recent Knight Frank report found. The rise has been highest in Sydney, 65 per cent over the 2017 year accounting for 38 per cent of the national total, compared with Melbourne’s 63 per cent.
That rapid rise is likely to continue into the future, with a third of 50 corporate real estate executives polled in late 2017 in the third annual CBRE Asia Pacific Occupier Survey revealing they’re planning to increase their use of coworking space.
Further, by 2030, JLL predicts that 30 per cent of all office real estate will be classed as “flexible”.
Damien Sheehan, country head Australia and New Zealand, of the nation’s largest coworking space provider Regus, said demand, and space, was growing exponentially. “We see it as a workspace revolution driven by technology, and we believe we’re now entering, or have recently reached, a tipping point into becoming more mainstream,” he said.
“This way of working is growing somewhere around 15 per cent a year, although some say double that. We’ve found people like working this way, there’s greater engagement and we believe there’s a 20-30 per cent cost benefit vis-a-vis conventional office space.”
Historically, it’s always been driven by SMEs, but senior managers are becoming more aware of the solutions it offers, and corporates are increasingly looking at taking half their current workspace requirement as core, then considering flexible solutions for the other half, Mr Sheehan said.
“They’re doing that a lot now in the US and UK, where it’s being taken up faster than in Australia, but we’ll follow on.”
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