Market Insights: Australia's Flexible Office Space Market Report - Q3 2024

Exploring the Concept of Space-as-a-Service and Its Impact on Businesses

Exploring the Concept of Space-as-a-Service and Its Impact on Businesses

Redefining workplaces, landlords, and user experiences in the evolving business landscape

The Evolution of Workspaces: From Pandemic Shift to Hybrid Solutions

With hindsight, we can see the pandemic as an unintentional workplace experiment that catalyzed the future of flexible work entirely. Businesses were confronted with the challenge of managing remote teams which prompted leaders to reevaluate their workspace requirements from the ground up.

A Paradigm Not So New, Yet Increasingly Relevant

While the concept of coworking might not be novel, its significance has accelerated over the past half-decade. The shift in demand within the commercial real estate sector has steered it away from conventional leasing structures. And in response, commercial landlords and property developers have embraced the coworking model, which offers unparalleled flexibility, top-tier amenities, and sustainably focused design.

Established players in the coworking and serviced office domain have already made their mark. Companies like Servcorp (founded in 1978), Regus (established in 1989), WeWork (founded in 2010), and Industrious (launched in 2013) have firmly solidified their presence. This trend is exemplified across the board, with over 170,000 square meters of Flexible Office Space available for rent from more than 100 Coworking Operators throughout Australia.

Decoding Space-as-a-Service: A Shift in Real Estate Dynamics

As defined by Google:

Space-as-a-service (SPaaS) signifies a fundamental change in how the commercial real estate industry delivers products and services to tenants, transforming commercial landlords from mere rent collectors into service providers.

Meeting the Shifting Demand: Reimagining Workspaces

In the realm of flexible office brokerage, numerous businesses transitioning from long-term leases have opted for coworking spaces. Their primary criteria include:

  • Short-term leases spanning 3, 6, or 12 months
  • Flexibility to scale the office size as needed
  • Cost-effectiveness
  • Satellite offices catering to geographically dispersed staff
  • Ready-to-use office setups

The Impact on Supply

The concept of Space-as-a-Service triggers several transformative effects:

  • Landlords evolve from rent-centric figures to providers of comprehensive services
  • Physical spaces evolve into 'smart' entities powered by future-focussed design and architecture
  • Property Managers take on a more vital role as they curate and orchestrate the user experience
  • Delivering an exceptional user experience hinges on the synergy between data, cutting-edge technology, and genuine human interaction.

In Conclusion

The Space-as-a-Service revolution is reshaping how businesses view and utilize commercial real estate. The pandemic may have acted as a catalyst, but the drive toward flexible, user-centric workspaces is now a definitive trend.

As commercial landlords transition into service providers and physical spaces evolve into smart environments, the synergy between technology, data, and human interaction becomes paramount. In this landscape, Property Managers emerge as crucial orchestrators of the user experience, cementing the shift towards a more flexible and dynamic future of work.

Find a Flexible Office Today

Search in Sydney

Up to 22 people
Private Offices

Level 3, 346 Kent Street Sydney

Up to 10 people
Private Offices

Level 3, 346 Kent Street Sydney

Up to 30 people
Private Offices

702, 171 Clarence Street Sydney

Up to 14 people
Private Offices

32 York Street York Street Sydney

Up to 18 people
Private Offices

Level 3, 55 Pyrmont Bridge Road Pyrmont

Up to 10 people
Private Offices

Search in Melbourne

525 Collins Street Melbourne

Up to 45 people
Private Offices
Up to 16 people
Private Offices
Up to 46 people
Private Offices
Up to 40 people
Private Offices

Level 14, 333 Collins Street Melbourne

Up to 12 people
Private Offices

Level 3, 530 Collins Street Melbourne

Up to 14 people
Private Offices

Search in Brisbane

Up to 16 people
Private Offices
Up to 24 people
Private Offices

200 Adelaide Street Brisbane

Up to 16 people
Private Offices
Up to 10 people
Private Offices
Up to 10 people
Private Offices

Search in Perth

L28, 140 Saint Georges Terrace Perth

Up to 10 people
Private Offices
Up to 14 people
Private Offices
Up to 22 people
Private Offices

152 Saint Georges Terrace Perth

Up to 16 people
Private Offices

37 Saint Georges Terrace Perth

Up to 15 people
Private Offices

Search in Adelaide

12 Pirie Street Adelaide

Up to 19 people
Private Offices

Wotso Adelaide, 217 Flinders Street Adelaide

Up to 10 people
Private Offices

12 Pirie Street Adelaide

Up to 10 people
Private Offices
Up to 10 people
Private Offices

We'll help find the perfect office for your hybrid workforce

As specialist brokers in the flexible office market, Rubberdesk is across all the options, offers and availability. We have real time pricing for thousands of spaces listed by hundreds of providers to help find your next office.

It's EASY, FAST and FREE to use Rubberdesk.

Start by telling us what you need.

We'll give you a call back with a bespoke shortlist of options to discuss.

Get Started

Or give the experts a call 1300 433 757

Rubberdesk logo
Loading...
Please wait...