Earlier this year, KMPG and Western Sydney University introduced their Launchpad concept, giving space and support to innovative start-ups as the shift to small collaborative work-spaces accelerates.
A report by commercial property consultants Knight Frank notes that the concept is not new, especially in Australia where there more co-working hubs per capita than anywhere else in the world.
Knight Frank Western Sydney executive Alan James said the concept allowed people to work collaboratively, feeding off each other’s ideas, in a small, intimate environment.
He said it was preferable to working from home, which could be isolating and non-productive.
Ideally, as hubs become more common, it would mean less travelling time for workers, who could effectively work in satellite offices of larger workplaces.
“These hubs provide an energetic work environment and are ideal for small companies where a couple of people need space,” Mr James told WSBA.
Mr James said the concept particularly suited the creative and innovation industries, where collaboration rather than competition was the key to success.
“I can see this concept taking off in Parramatta, the geographic centre of Sydney, as I know the council wants to encourage the idea,” he said.
But the only Western Sydney co-working office he knew about - apart from LaunchPad - was run by Space and Co at Rouse Hill.
A few other names of co-working spaces in Sydney were Fishburners, Blue Chilli and Stone and Chalk.
The Knight Frank report, entitled The Consumerisation of the Workplace- Co-Working in Australia notes that by 2020, 40 per cent of the Australian workforce will be freelancers.
And, perhaps not surprisingly, the earlier trend for people to work from home has been found wanting for many workers.
In 2013, Yahoo CEO Marissa Meyer banned working from home, saying “people are more productive when they’re alone, but they’re more collaborative and innovative when they are together. Some of the best ideas come from pulling two different ideas together.”
The Knight Frank report notes that co-working hubs are attractive to larger consultancy firms needing project space, in lieu of leasing their own short-term space.
Mr James said property owners viewed co-working operators as no different to any other tenant.
They execute a lease and they operate their business, but they then on-sell that to smaller operators.
Hubbing along
● By 2020 40pc of workers will be freelancers.
● Only 7 pc of Gen Y choose to work for Fortune 500 companies.
● Suits innovative start-ups.
● Potential to cut down on commuting time.
● Hub Australia and WeWork, good examples.
● Space and Co operates at Rouse Hill Town Centre.
● Details:
www.knightfrank.com.au/commercial/office-space/office-leasing
