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Coworking Giants Eye Auckland’s Thriving Market

Auckland’s coworking market is about to be fully-equipped with the industry’s largest companies entering into the area and leasing highly sought-after properties.

Spaces has taken over many buildings in the Auckland CBD and is expected to open new locations in the coming months. According to real estate firm Bayleys, the company would add over 1,000 desks.

Generator, which is now owned by property developer Precinct Properties, is also making big waves in the area and has quickly become one of the biggest high-end coworking players in New Zealand.

Currently, coworking takes up about 2% of Auckland’s office space, which is twice what it was three years ago. Last year, occupancy levels in the city were at a steady 81.3%, where vacancy was needed to accommodate the rapid growth of members from all corners of the workforce.

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“Coworking has long been the norm for tech start-ups and creative companies, but it is now also attracting a more diverse range of corporate tenants seeking to tap into the start-up culture, cultivate innovation and win new talent and clients,” said Lloyd Budd, Bayleys commercial and industrial director and coworking specialist.

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