The Great Room by Industrious, a well-known worldwide flex space operator, just opened its first co-working site in Australia in Sydney. This expansion marks a significant milestone for the operator, increasing its Asia-Pacific portfolio to ten locations. The initiative highlights the growing collaboration between Australian landlords and flex operators to integrate co-working spaces into commercial office towers to meet the region's changing business needs.
The Great Room by Industrious, located on Level 29 at 85 Castlereagh Street in Sydney's central business district, provides a modern co-working environment with contemporary décor and a hospitality-inspired attitude. Nearly 70% of the floor area was pre-leased, attracting a wide range of enterprises from the IT, real estate, financial, and legal services sectors. The strong occupancy rate at opening demonstrates the growing demand for premium flex spaces in Sydney's CBD.
Jaelle Ang (pictured below), CEO and Co-Founder of The Great Room by Industrious, expressed excitement about the company's launch into the Australian market, highlighting the strategic timing of the move. A partnership agreement between landlords and co-working operators offers mutual benefits, assuring both sides' long-term prosperity.
The 1,200-square-meter space, which was secured from landlord 151 Property, shows The Great Room by Industrious' dedication to providing quality interiors while also promoting community through place-making events and activities. The location provides a diverse range of flexible work choices, including hot desks, day passes, virtual office services, and dedicated offices for more than 20 individuals.
According to renowned commercial real estate agency CBRE, Sydney presently leads the country in co-working spaces, accounting for more than 40% of the national stock, with additional increase expected in the coming years. Co-working efforts boost activity within office towers and increase asset value by adding new facilities and collaboration places, reactivating previously underutilised sections.
Josh Alfafara, General Manager of The Great Room by Industrious Sydney, emphasised the transformative power of flexible workspaces on current work dynamics. With co-working operators accounting for only 3.1% of existing office stock in Sydney's central business district, demand for such spaces is expected to increase as office re-occupancy rates recover post-pandemic.
Place-making activations and events, such as networking sessions and learning opportunities with industry leaders, are essential to Industrious community-building activities at The Great Room. The operator strives to create conditions that encourage members to grow professionally and socially by emphasising flexibility, independence, and experience.
The Great Room was founded in 2016 and bought by Industrious in 2022. It is now part of the world's third-largest global flex space operator network, which is backed by CBRE. This global network connects members to co-working spaces in Europe, the United States, and Asia-Pacific, as well as enterprise-grade technology and flexible meeting and event venues.
a. Level 29/85 Castlereagh St, Sydney NSW 2000, Australia
w. www.thegreatroom.co/coworking-spaces-australia
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