CoWorking Space v. The Traditional Office Space: Challenges and Opportunities in Sydney

Hera Antoniades, Dulani Halvitigala and Chris Eves

ERES from European Real Estate Society (ERES)

Abstract: CoWorking space is commonly a collaborative space in an office-like environment. The space can be in the form of very short office leases which range anywhere between a day to a week and longer; and the space can be used independently, collaboratively or in nominated teams. The intent of coworking spaces is numerous, which includes a sense of community environment, encouraging greater productivity, provide access for mobile and freelance workers and an affordable solution to start-ups who are on a restricted budget and unable to enter into long term rental commitments. Many landlords are being challenged by this growing demand for flexible, scalable, collaborative spaces with short term leases. A desktop analysis of eighteen (18) coworking locations in Sydney is undertaken. The findings identified three main opportunities for landlords to capture the coworking space – firstly, leasing space to coworking operators, secondly developing their own coworking platforms and thirdly partnering with coworking operators to develop coworking spaces; coupled with two main challenges associated with the implementation of coworking hubs – the reliance on coworking operators and their survival with changing market conditions, and secondly, transforming traditional office spaces into engaging coworking vibrant hubs.

Keywords: challanges; collaborative spaces; Coworking spaces; office landlords; Opportunities (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2018-01-01
New Economics Papers: this item is included in nep-ict and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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