Australia Flexible Office Space Market Report and Forecast 2024-2032

Australia Flexible Office Space Market Outlook

The Australia flexible office space market size is projected to grow at a CAGR of 7.8% between 2024 and 2032.

Flexible office spaces are type of workplace designed for employees to work in different manners. This means that the employee has the ability to work in different spots in the same office, work from home, or work in part time.

These office spaces are beneficial for offices as they help in saving overhead costs while providing employees with a comfortable and productive work environment.

Key Trends in the Market

• The Australia flexible office space market demand has been growing steadily owing to the rise of remote-working model. Flexible offices provide an opportunity for teams to gather periodically in a shared space. These spaces offer collaborative environments, meeting rooms, and networking opportunities, fostering innovation and teamwork.

In addition, these spaces often come with various amenities like high-speed internet, administrative support, utilities, and sometimes even refreshments, which cater to the diverse needs of businesses.

• One of the key Australia flexible office space market trends include the surge in the number of startups, freelancers, and independent professionals. Flexible office spaces provide a professional environment without the commitment of a long-term lease.

Moreover, these spaces foster collaboration, networking opportunities, and knowledge sharing among diverse professionals and businesses sharing the same workspace.

• Flexible workspaces often prioritise creating a conducive work environment that promotes work-life balance. This factor appeals to employees seeking a more flexible and engaging work setting. Flexible offices became more attractive due to their adaptability and ability to accommodate shifting workforce requirements.

Australia Flexible Office Space Market Segmentation

Based on type, the market can be segmented into private offices, co-working spaces, and virtual offices. The market segmentation, based on end-user, includes IT and telecommunications, media and entertainment, and retails and consumer goods, among others. The major regional markets for flexible office space in Australia are New South Wales, Victoria, and Queensland, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Australia flexible office space market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Hub Australia Pty Ltd

• Andcards Sp. z o.o.

• Charter Hall Group

• The Executive Centre Limited

• IWG plc

• Desk Space

• WeWork Companies Inc.

• Workspace365 Pty Ltd.

• Rubberdesk Pty Ltd

• Kings Business Park

• Others

Australia Flexible Office Space Market Analysis

Market Share by Type

According to recent trends, co-working spaces are likely to go through significant development during the forecast period owing to the rise in work-hour facility. Numerous medium-sized companies and startups are conducting their work in shared spaces as it allows them to save on overhead expenses, further contributing to the Australia flexible office space market growth.

Moreover, working professionals can gain access to amenities such as high-speed internet, refreshments, utilities, and even a recreational space.

Market Share by Region

New South Wales is expected to account for a major portion of the Australia flexible office space market share owing to rapid infrastructural development and relatively high population density. Sydney, being one of the busiest cities in Australia, has the highest number of private office spaces available. The city has a wide variety of office spaces available, providing accommodation for 1-4 to more than 50 people.

However, the relatively high rental cost can be a hindering factor as startups and other companies returning to office post-pandemic are likely to be tight on budget.

Competitive Landscape

Hub Australia is a coworking space provider operating in major Australian cities like Sydney, Melbourne, Brisbane, and Adelaide. They offer flexible workspace solutions catering to a diverse clientele, including freelancers, startups, SMEs, and larger corporations. Hub Australia focuses on creating vibrant and collaborative work environments equipped with modern amenities, meeting rooms, event spaces, and networking opportunities. Their spaces often promote a community-driven approach, encouraging interactions and partnerships among members.

Andcards Sp. z o.o. is a company specialising in software solutions for coworking spaces and shared offices. They provide management software designed to streamline operations, improve member experience, and enhance the overall efficiency of coworking spaces. Their platform includes features like member management, booking systems, payment processing, and community engagement tools.

Charter Hall Group is a leading property investment and funds management company in Australia. They operate across various real estate sectors, including commercial, retail, industrial, and social infrastructure. Charter Hall manages and invests in a diverse portfolio of properties, including office buildings, shopping centres, logistics facilities, and more.

Other major players in the Australia flexible office space market are The Executive Centre Limited, IWG plc, Desk Space, WeWork Companies Inc., Workspace365 Pty Ltd., Rubberdesk Pty Ltd, and Kings Business Park, among others.

Key Highlights of the Report