While many organisations continue to struggle through COVID-19, one of the runaway success stories of 2020 would seem to be providers of flexible workspace solutions. Ongoing market uncertainty, coupled with a much higher percentage of employees working from home, have been key factors that have driven companies to give up existing office space and downsize their physical footprint and avoid being tied to expensive long-term lease deals.
Once the preserve of the IT Sector, now almost every industry from biotech to banking is leveraging coworking spaces. In China, the Executive Centre now has opened a total of 47 such spaces since 2015, which now means it has over 8,800 workstations across the country. Compass Offices is also going full force in its plans to expand its network of flexible office spaces across APAC. After the launch of their Collins Street Centre in Melbourne, Australia, they are now adding a new centre in Shibuya, Tokyo to their portfolio of over 40 centres across nine cities in APAC.
In Hong Kong, with rents still through the roof, and traditional industries all but moved away from Hong Kong, old-school formerly heavily industrialised areas, such as Kwun Tong, have seen a huge uptick in the conversion of former industrial units into sub-divided basic offices. These no-frills spaces are available for monthly rent from around HK$3,500, for one which would allow you to swing a kitten around in, to around HK$10,000, for a space that could accommodate teams of about 8 - 10). For those who don’t fancy the step back in time to industrial buildings, a number of trendy co-working spaces have also opened in the plethora of new-build offices in the same area. These have mushroomed following in the footsteps of the WeWork model, and offer the now ‘mandatory’ pantry, breakout spaces, flexible room hire options, hotdesks and offer windowless rooms for around 8 staff, at a push, for around HK20,000 a month.
On the other end of the scale, The Great Room, which has recently opened in Quarry Bay, Hong Kong has taken a huge leap forward in creating what they term, ‘coworking inspired by hospitality’. This translates into an uber-post workplace, aimed at marrying the concept of community and dynamic shared space with beautiful aesthetics. The hotel-style workspace offers a ‘Monday Breakfast Club’ for a natter over a morning brew, while users can nibble from the ‘Turndown Cart’. The space also features Think: salon sessions on AI and big data, masterclasses on media storytelling, mentor insights and wellness workshops among their offerings.
Whereas hot-desking was once associated with struggling start-ups, increasingly premium providers are now rising to fill the demand from the C-Suite level. As well as desk space, we are now seeing everything from sleek meeting rooms to soundproofed spaces for important calls–all with spectacular views and the latest in gadgetry and stunning interior design.
Paul Arkwright
Publisher
