Coworking Firms Moving Forward With Expansion
Some coworking operators are moving forward with expansion plans, despite the office market taking a hit due to the ongoing pandemic.
For instance, WeWork recently opened its 21st location in Australia as it works to target larger businesses to obtain profitability.
The new location in the Sydney CBD is within a 14-story building, 13 of which are taken up by WeWork.
“As organisations consider how to plan for the future work amid continued uncertainty, we’re seeing an uptick in demand for companies taking up a central space in the city where they can safely occupy a full floor private office surrounded by the energy of a collaborative community,” said Balder Tol, general manager of WeWork Australia.
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Tol added that despite a fall in foot traffic, the company was optimistic about companies returning to the workplace and has seen an uptick in demand for September.
Another coworking operator Workit Spaces is preparing to open its third location geared towards e-commerce businesses. It will take up 9,000 square meters of space, with the first 3,000 square meters opening in November.
“We’ve had our fair share of concerns about the uncertain economy but we’ve taken a calculated risk and are expecting commercial real estate to take off again,” said Talea Bader, managing director of Workit Spaces.
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