Australian Flexible Office Market Updates - Q2, June 2022
Over the past quarter (March to June), we have seen increasing demand for flexible office space in Australia. With the highest number of inquiries focused in Sydney followed by Melbourne, Brisbane, then Perth.
Along with substantial industry expansion, here are the latest Market Updates for Q2, 2022.
June 2022
Explore the latest operator updates in Australia's Flexible Office Market below:
Sydney Operator Expansion
Sydney By the Numbers
| Median Office Rate Per Person | $870 |
| Median Coworking Desk Rate | $560 |
| Flex Floorspace Available (sqm) | 26,235 |
The chart above highlights the Median office monthly rate per person by office capacity in Sydney. Source: Rubberdesk Flexible Office Market Report June 2022.
Spacecubed
Spacecubed has been appointed as the operator for The Western Sydney Startup Hub, fit with 1,500 square metres of affordable coworking space in the revitalised Parramatta North Heritage Precinct.
Justco
JustCo has announced its newest Sydney location at 135 King Street set to open in Q1 2023. This Premium Grade-A office tower is surrounded by high-end retail stores on Castlereagh St and adjacent Pitt Street Mall. 135 King Street will feature a brand new lobby and cafe, premium office space, and end-of-trip amenities.
Spaces
Spaces opened at 1 Denison Street, North Sydney’s first Premium Grade commercial tower. This brand new designer workspace features floor-to-ceiling windows and clear views across Sydney’s Central Business District.
Image: The Commons Surry Hills coworking space
The Commons
The Commons recently opened its newest Coworking Space on Crown Street in Surry Hills. The space features meeting rooms with all the latest tech, a leafy green tea room, a cinema, and a rooftop courtyard. Additionally, The Commons George Street which opened earlier this year is set to open new floors dedicated entirely to enterprise suites.
Servcorp
Servcorp has taken 1 secure floor at 100 Mount Street in North Sydney. Set to open in November 2022 with more information to come.
The Work Project
The Work Project has officially opened at 50 Bridge Street. Demonstrating the latest thinking in workplace architecture, the centre has been created to support high-performance businesses and attract top talent.
Work Club Global
Work Club has announced its upcoming location at 1 Locomotive Street, Eveleigh. Locomotive Work Club will span two levels, taking over 3200 sqm within the workshops, filled with private suites, hot desks, flexible workspaces, a library area, conference & event facilities, a Cafe & Retail store, and an in-house fully licensed bar & Club Lounge.
Tank Stream Labs
Tank Stream Labs has opened another location in Barangaroo Towers. As part of Lendlease's carbon-neutral Barangaroo precinct, the location consists of 4,400 square metres of state-of-the-art workspaces, modern fully-equipped facilities, private office space, meeting rooms, and invaluable networking opportunities and industry experts.
This premium location provides opportunities and amenities for growing startups and scaleups on their path to global expansion.
Stone & Chalk
Stone & Chalk officially opened at 477 Pitt street, with new floors to open in October. The Stone & Chalk Scaleup Hub is a connected, vibrant and sustainable precinct located within Tech Central Sydney. Designed to nurture the next generation of global tech companies, the hub forms part of the NSW Government’s long-term plan for the capital city to become the biggest tech hub of its kind in Australia.
Tech Central Sydney
Tech Central will provide ~250,000 sqm of office space for technology companies at affordable rates for scale-ups. Backed by NSW Government, this unique ecosystem of office space dedicated to technology-led sectors is built to attract global talent.
Melbourne Operator Expansion
Melbourne By the Numbers
| Median Office Rate Per Person | $660 |
| Median Coworking Desk Rate | $500 |
| Flex Floorspace Available (sqm) | 22,870 |
The chart above highlights the Median office monthly rate per person by office capacity in Melbourne. Source: Rubberdesk Flexible Office Market Report June 2022.
CreativeCubes.Co
In August, 2022 CreativeCubes.Co opened its fifth Melbourne location. CreativeCubes occupies 3000sq m of a 6000sq m office building with premium amenities such as fully-furnished meeting rooms, kitchen and break-out facilities, coworking, and private offices.
The Commons
The Commons expanded its Collingwood offerings with a new center at 54 Wellington Street. The space features a movie theatre, karaoke room, photography, and podcast studio. This latest centre is The Commons sixth Melbourne location.
Hub Australia
Hub Australia opens its sixth location in Melbourne at 459 Church Street. The centre has been created in partnership with Salta Properties and Abacus to support professionals, scale-ups, corporates like Spotify, and government teams that are now choosing Richmond for their multi-functional workspace.
The Executive Centre
TEC has opened at 35 Collins Street. Located on the 30th floor, The Executive Centre at Collins Place offers a purpose-led workspace that creates both a professional space and offers room for community and connection.
The Flexi Group
Following the merger of regionally recognised brands such as The Cluster, Common Ground, and The Hive under one umbrella, the Flexi Group has been launched, becoming the largest flexible workspace operator in Asia-Pacific.
Brisbane
By the Numbers
| Median Office Rate Per Person | $690 |
| Median Coworking Desk Rate | $385 |
| Flex Floorspace Available (sqm) | 11,260 |
The chart above highlights the Median office monthly rate per person by office capacity in Brisbane. Source: Rubberdesk Flexible Office Market Report June 2022.
Brisbane saw no operator expansion in Q2, however, with the opening of MOBO Co and Spaces in Fortitude Valley and the CBD earlier this year, businesses can enjoy more premium flex offerings.
Perth
By the Numbers
| Median Office Rate Per Person | $600 |
| Median Coworking Desk Rate | $455 |
| Flex Floorspace Available (sqm) | 4,895 |
The chart above highlights the Median office monthly rate per person by office capacity in Perth. Source: Rubberdesk Flexible Office Market Report June 2022.
Similar to Brisbane, there was limited operator expansion in Perth in Q2, however, the flex space in Perth continues to evolve. PropTech Hub WA announcing a joint venture with Liberty Flexible Workspaces, as the West Australian home for protection continues to rapidly grow.
Canberra
By the Numbers
| Median Office Rate Per Person | $518 |
| Median Coworking Desk Rate | $430 |
| Flex Floorspace Available (sqm) | 5,825 |
The chart above highlights the Median office monthly rate per person by office capacity in Canberra. Source: Rubberdesk Flexible Office Market Report June 2022.
One of the smaller Flexible Office Markets, Canberra saw no new coworking or serviced offices open in Q2. However, the flex offerings have become more diversified as operators such as Hub Australia and Work Club Global opened earlier this year. The local coworking scene remains vibrant with the likes of KeepCo, JAGA Workspaces, and WOTSO Workspace.
Adelaide
By the Numbers
| Median Office Rate Per Person | $557 |
| Median Coworking Desk Rate | $415 |
| Flex Floorspace Available (sqm) | 2,235 |
The chart above highlights the Median office monthly rate per person by office capacity in Perth. Source: Rubberdesk Flexible Office Market Report June 2022.
Similar to Canberra, operator expansion has been minimal in Q2 in Adelaide.
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