Across the globe there is a rising demand for shared offices, known as the flexible space market. It’s good to share, right?
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From co-working, shared spaces, hot desking, meeting rooms to quiet spaces – there’s a growing appetite towards pulling the ideal workspace of every shape, under one roof. While unused office space is still a reality, shared spaces are on the rise.
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Precinct Properties, who are the largest owner, developer and manager of premium inner-city business space recently purchased the remaining half share of Auckland’s leading flexible space provider, Generator, after purchasing the first 50% in 2017. Generator provides 12,600sqm of flexible office space solutions to a wide range of NZ businesses in high-end, city-centre addresses.
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“From our conversations with clients, contractors and commercial leasing agents across the city, we are noting a shift in needs for office occupiers from what they were 10 years ago. The focus is moving towards how common spaces can be shared, along with improving office fit-outs to suit this change, and looking at best positioning for local amenities,” says Peter Hemmingsen, Property Manager.
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“Sharing office space is ideal for businesses striving for affordability. They can share resources such as a receptionist and entertainment spaces. The concept just seems appropriate as people require more and more work flexibility nowadays.” He continues.
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On an international scale, the American company, WeWork provides shared workspaces and services for start-up communities, freelancers and businesses of all sizes in 552 offices across 25 countries. Founded in 2010, it is now worth $8.1 billion, with estimated annual revenues of over $1.8 billion – there’s no denying the concept is working.
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