Melbourne’s Co-Working Space Trend
The number of co-working or flexible office spaces has risen from approximately 78 sites six years ago to more than 400 in Melbourne and Sydney as employers are responding to the growth in the gig economy, freelancers and the demands of millennial workers.
Coworking refers to the concept of being co-located in a building but working on your own projects, in your own business or with a team.
The main players in Australia are WeWork, Hub Australia, GPT’s Space & CO, Wotso, Servcorp and the new entrant from Singapore, JustCo. However, there are some smaller players that are making big impact in the space.
In April this year business hub the ‘11th Space” officially opened the doors to its first Melbourne co-working space, offering a brand-new ecosystem that is set to open a whole new world of co-working in Australia.
Acting as the gateway between key business hubs in the Asia Pacific, the 11th Space’s first focal point is to bring Indonesian startups to the Collins Street hub.
Xynergy Commercial spoke to Ivan Tandyo about his new co-working space.
“The 11th Space exists to be the catalyst in the world of entrepreneurship, providing a supportive ecosystem that offers end to end solutions for both new and developing businesses, ensuring new businesses are mentored towards sustainable growth.”
“Australia is the international hub of the Oceanic region and we want to foster the energy of two neighbouring countries through the collaboration of start-ups in both Indonesia and Australia.
“Indonesia has a rapidly expanding market in terms of its start-up scene and our goal is to unlock international connections that are based in Melbourne for them while helping enhance and accelerate their overall business journey,” said Ivan.
While flexible, or co-working offices have been in operation since the mid-1980s, the change of working lifestyles with hot-desking, improved technology and demand by younger staff to work away from the office, have resulted in an explosion of this sector and at Xynergy Commercial we believe the growth will continue.
Today in 2019 most new office towers now have at least one or more of these flexible floors for leasing, and owners of older properties are now incorporating a form of co-working space in the building or the foyer.
It will be interesting to see what the future holds for the sector.