The growing trend of co-working spaces in Melbourne

The trend of co-working spaces

The co-working space is gaining momentum in Melbourne. The commercial market has risen by almost 78% in the last few years. These flexible office spaces are home to many employers and employees in Melbourne. The trend of co-working spaces in Melbourne has made a huge impact on workspace and culture.

Large companies in Melbourne are looking for flexibility and they are opting for these co-working space areas to be a part of a more creative, dynamic, and entrepreneur’s environment.

The co-working space Melbourne is now changing the complete dynamics of the job industry in Melbourne. It is said that the co-working spaces are ranked to more than 400 sites in Melbourne with leading companies taking into this like Just Go. Dexus, Servcorp, and GPT space & Co.

The traditional business models have undergone rapid evolutionary change. The rise of the co-working spaces is a new and trending phenomenon; it is a specialist open-plan area with a wide range of different business which works side by side. The concept of co-working spaces is quite popular among the start-up and small companies which are becoming quite prevalent due to the numerous benefits it offers.

Benefits of co-working spaces

The co-working space without the stiffness of a corporate environment brings more productivity and boosts motivation among the professionals.

The small businesses or freelancers can have a tough time setting up individual offices with a significant amount of capital investment. These co-working spaces provide them a platform to give and expand in a network of different professionals.

In recent times, there has been a significant rise in the client base of some companies, and they thank co-working spaces for it. The co-working spaces encourage the great sense of community and bolster the business by way of fostering new connections. Co-working spaces give exposure to many potential clients. It is indeed a great way to find new people and clients with a similar line of interests.

The co-working spaces are quite cost-efficient too. It eliminates the major worries of the utility bill. This truly has benefited many small businesses in Melbourne. Recent reports have shown that more than half the employees today work externally for more than 2 and half days a week, or even more. This truly has helped the business to avoid office space rents specifically.

The co-working spaces are here to stay long, states the senior lecturers of the University of Sydney in the Architecture Department. He further states that the different professionals get to work together in the same space, which is a relatively new opportunity has got with the advent of co-working spaces. It suits the businesses which depend on each other. For instance, the collaboration of environmental designers with architects are truly beneficial.

The senior lecturer also adds to his statements that the people working together who normally wouldn’t get the chance, could turn out to be interesting and beneficial.

The Melbourne HR consultancy Affinity Peoples director John Cooksey also as great things to say about co-working spaces. He says that co-working spaces in Australia have become a reality in Australia and it has a strong mass appeal due to benefits it has to offer to its users. The small business can largely benefit from it as their overheads are covered up by the workspace. It is just like renting a small workspace or an apartment for work purpose where you need not pay for any utilities and upgradations.

John Cooksey also says that these co-working spaces providers a very nice start-up environment. “Because of this, I think there is a productivity gain. I think it also translates well in gaining customers” says Cooksey. He says that co-working spaces are a great medium of social networking too.

Damien Sheehan, the country’s head for the major co-working spaces in Australia has opened more than 82 co-working spaces running successfully across the country of Australia. Recently he opened one in the Sydney World Square location, in Melbourne, which is one of the prime properties.

The market research indicates that by the year 2030, there will be a 30% rise in the commercial workspace. These spaces had been there many years ago, but recent times have seen a boom in the co-working space industry, and it has become a mainstream business.

Sheehan says that the co-working spaces enables different companies to overcome the uncertainty due to the disruption and digitization by offering the ability to adapt to the workforce sizes which is required.

He says that the professionals favor the stimulating work environment the co-working spaces has to offer to its clients. The new-age employees, love the idea of the co-working space with many companies on the same floor where they get the opportunity to interact and build relationships and even engage in business lounges and cafeteria discussions. They can even attend the monthly event. This leads to a growth of business relationships and provides new opportunities.