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AUSTRALIAN PROPERTY INSTITUTE VIDEO

Rise of coworking to pressure office landlords

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AUSTRALIA’S total coworking space measures up to roughly the entire Darwin CBD office market.

It might read like a lot, but it makes up just 0.6% of the nation’s total office space, and the sector is still very much in its infancy, according to Knight Frank associate director, research & consulting, Kimberley Paterson.

She told attendees at the Australian Property Institute’s National Property Conference on the Gold Coast that the rapid growth is showing no signs of slowing, and the sector could potentially increase by a further 35% over the next 12 months.

It is likely to put pressure on institutional landlords to match market demand when it comes to office and amenity quality and lease terms.

Australian Property Journal