Latest Flex Office Market Insights: What's New with Flex and Serviced Office Space in Australia

Your Guide to Finding a New Office in Australia

Your Guide to Finding a New Office in Australia

Are you ready to reassess your workspace needs? This article will provide you with all the resources you need to make the right choice for your business.

Whether you're starting your search for a new office due to lease expiry, you need more or less space, or you just simply want to know what options are out there, there are 5 key points you should consider before and during your search for office space.

1. How much does it cost to rent an office in Australia?

It's important to have a realistic and complete understanding of the cost of office space. As with most things the more premium an office is, the more premium the price. Moreover, there are many additional factors that influence the cost of an office. These include the location, the quality and standard of the fit-out, and the size of the office.

Flexible Office Price by City

At a State level, New South Wales (NSW) and Victoria (VIC) account for over 74% of the flexible office space in Australia between them, with Sydney and Melbourne CBDs respectively the largest centres. North Sydney follows, with Brisbane not far behind and growing fast.

When it comes to price, Sydney is the most expensive per person per month for private office space, boosted by the amount and rates found in Sydney CBD. Victoria follows and WA is the third most expensive per seat.

City 1-4 Desks 5-10 Desks 11-15 Desks 16-25 Desks 26-50 Desks 50+ Desks
Sydney Office Space $926 $1,060 $1,087 $1,059 $891 $800
Melbourne Office Space $731 $757 $890 $932 $860 $877
Brisbane Office Space $582 $638 $608 $599 $584 $584
Perth Office Space $750 $750 $700 $750
Adelaide Office Space $634 $600 $450
Canberra Office Space $750 $700 $700 $875 $580
Hobart Office Space $600 $600

Source Rubberdesk. The median price is shown per person per month based on a 12-month term

Most companies aren’t really sure of what to expect when it comes to their budget, that's why we will work with you to create a bespoke shortlist. Our free shortlist provides a holistic understanding of the market and will include a range of options including:

  • Cost-Effective Offices: These are typically smaller internal spaces with filtered light.
  • Mid-Range Offices: More space per person, may have natural light, internal meeting rooms.
  • Premium Serviced Offices: Premium amenities, prime locations, spacious offices with internal meeting rooms, and break-out space.

Read our latest Australian Flexible Office Price Guide for more in-depth pricing information.

2. Do I want a leased or serviced office?

Deciding whether you need more or less space, the length of the lease and whether that's in a serviced or a leased office is always going to be challenging. That's why it's necessary to thoroughly compare both options so you can be confident in your decision.

Key points of difference between a Leased and Serviced Office include:

  • Length of Term
  • Pricing
  • Discounts / Incentives
  • Bond / Bank Guarantee
  • Fit out
  • Branding
  • Space per person

We've put together a comprehensive article Comparing Serviced Offices & Leased Offices to help you in your decision-making. We know there are a lot of points to cover, so feel free to give us a quick call or message and we can help you make the right choice.

Photo: Rent an Office in Sydney

3. Are flexible work arrangements impacting our need for more or less space?

According to the recently released joint report by Essensys and Flexible Workspace Australia (FWA), Australian office workers remain reluctant to return to the office full-time. And driven by the acceleration of working-from-home policies due to covid-19 lockdowns, as we move into 2023, the workplace will remain employee-driven.

Research conducted by Deloitte Access Economics and the Australian National University found that 54% of employees think that flexible working is at least as important as a 5% pay increase. Despite these changing employee expectations, it is important to understand that whilst the role of the central office has changed, it remains vital for organizational culture and growth.

John Preece, Chief Property Officer at Hub Australia states that,

The HQ Venue will be an important part of that ecosystem, but it will be significantly smaller and significantly better than the traditional office of the past.

So, as part of establishing the why, when, and how of the 'new' office, managers must reassess their current workspace needs to better fit their current work model. If only half of your employees are in the office on any given day during the week, perhaps downsizing to an office with flexible terms where you can take more or less space as you need is the better option.

4. Does our current office have the tech capabilities needed for employee success?

As part of your workspace reassessment, it's also important to recognise where your office can be improved from a technological standpoint and understand how investing in this can help attract employees back to the workplace. According to the Essensys and FWA joint report,

57% of office workers say that their office building ISN’T EQUIPPED for a flexible, seamless, agile work experience.

A practical and perhaps more affordable solution to improving your workspace technology is by renting an office in a premium coworking or serviced office space. Many coworking spaces such as The Work Project offer a range of benefits including top-of-the-line technology infrastructure to enhance productivity and facilitate collaboration.

5. How do I find the office that is right for my business?

If you've taken some time to think about each of the previous points in this guide, the next step to finding the space that works best for all aspects of your business is by touring a range of offices. Create a wish list of what you want, factors such as a specific location, the type of office, or what sort of atmosphere would your team work best in.

Then we suggest reaching out to a Flexible Office Space broker (like us) to help you compare the entire market. There are over 60 Workspace Operators Australia-wide listed on Rubberdesk, all with completely different product offerings. That's a lot of offices to visit if you're new to the office search! However, with our expertise, we will narrow down your options, present you with a bespoke shortlist of suitable offices, and negotiate the best deal all for free and without obligation!

Here's another opportunity to get a free quote.

Want to see what's out there but not ready to tour?

That's fine, it's always good to get a general idea of the market. Take a look at some of the coworking and serviced offices currently available on Rubberdesk. Keep in mind there will be a range of new offices opening in 2023. Stay up to date with what's new in the Australian Flexible Office Market here.

Sydney Office Space Summary

Median Office Rate Per Person $975
Median Coworking Desk Rate $600
Flex Floorspace Available (sqm) 40,685
Up to 20 people
Private Offices
Up to 22 people
Private Offices

Governor Phillip Tower, 1 Farrer Place Sydney

Up to 10 people
Private Offices

Melbourne Office Space Summary

Median Office Rate Per Person $717
Median Coworking Desk Rate $500
Flex Floorspace Available (sqm) 24,215

54 Davis Avenue Davis Avenue South Yarra

Up to 4 people
Private Offices
Up to 4 people
Private Offices

1101, 200 Queen Street Melbourne

Up to 6 people
Private Offices

Brisbane Office Space Summary

Median Office Rate Per Person $600
Median Coworking Desk Rate $500
Flex Floorspace Available (sqm) 12,050

260 Queen Street Brisbane City

Up to 8 people
Private Offices

84 Brunswick Street Fortitude Valley

Up to 7 people
Private Offices
Up to 13 people
Private Offices

Perth Office Space Summary

Median Office Rate Per Person $700
Median Coworking Desk Rate $495
Flex Floorspace Available (sqm) 5,370

197 Guildford Road Maylands

Up to 8 people
Private Offices

L24.33, 108 Saint Georges Terrace Perth

Up to 2 people
Private Offices

37 Saint Georges Terrace Perth

Up to 5 people
Private Offices

Adelaide Office Space Summary

Median Office Rate Per Person $557
Median Coworking Desk Rate $415
Flex Floorspace Available (sqm) 2,235

169 Fullarton Road Dulwich

Up to 3 people
Private Offices

Level 30, 91 King William Road King William Road Adelaide

Up to 6 people
Private Offices

Level 30, 91 King William Road King William Road Adelaide

Up to 4 people
Private Offices

Canberra Office Space Summary

Median Office Rate Per Person $500
Median Coworking Desk Rate $350
Flex Floorspace Available (sqm) 5,480

Level 5, 73 Northbourne Avenue Canberra

Up to 6 people
Private Offices

Suite 10, 10 Wormald Street Symonston

Up to 10 people
Private Offices

Level 5, 73 Northbourne Avenue Canberra

Up to 5 people
Private Offices

Start Your Search for Flexible Office Space Today

Local market experts with you every step of the way.

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

Frequently Asked Questions

What's included in a serviced office?

Serviced offices provide a flexible alternative to traditional office leasing. Taking a serviced office often means you'll have an agile rental agreement where you can take as much or less space as you need. Other inclusions include dedicated or shared facilities such as premium meeting rooms, kitchen facilities, print and scanning & break out space, IT support and reception services.

Where to find a serviced office?

There are currently over 60 serviced office providers listed on Rubberdesk today with offices located all across Australia. You can find an office close to home or take space in a prime CBD location. Depending on when you want to move, many serviced offices offer turn-key, fully-furnished ready to go office space.

Rubberdesk logo
Loading...
Please wait...