Out with the old; in with the new. Australia is redefining how modern offices work. Alternative workspaces are opening left and right, and demand continues to grow.
This might not mean that much to you as an owner of idle property or spaces, but there is opportunity for you to cash in on this rising demand. Property owners are transforming their idle properties — and even their houses — into coworking spaces that defy old conceptions of what an office workspace should look like.
Getting into the Action
Melbourne is one of the leading drivers of coworking in Australia, hosting more than 180 alternative workspaces. Building managers and large property owners know that this is low-hanging fruit and are making small changes to fit coworking standards.
When it comes to design, the adjustments required aren’t even that drastic. Coworking spaces still house standard conference rooms with acoustic ceiling tiles and large conference tables for formal meetings, although other areas have a more flexible, modern, and informal look.
If you own a building or a large property, you could host a coworking space through one of the large coworking franchises or just have your property listed similar to an Airbnb for offices.
The Basics
Coworkers do their work online and most of them keep their data on the cloud, so a reliable and fast internet connection is essential. You want your clients to be comfortable too, so you’ll need air conditioning for when it’s hot and a heating solution if it gets too cold.
Coworking franchises might have additional requirements, but if you’re just having your property listed — you could make do with a few comfortable chairs and some functional and stylish tables.
As long as you offer affordable rates and an environment with minimal distractions along with reliable Wi-Fi, remote freelancers should flock to your new business.
Profitability
Alternative office models can be applied to unused property — making use of otherwise unused space. Having your property listed online also gives you an alternative source of income for very little changes and with a modicum of investment.
Demand for coworking is multiplying across Australia, and analysts expect that almost 30 per cent of all commercial office spaces in the nation would be allocated to coworking in the next 12 years. With the changing landscape in how people work and the nature of work they do, it is not hard to see why.
The modern workforce is always evolving, and with it sprouts different problems and solutions you could be part of. And if you’re quick enough, you could ride the wave and even cash in. So if you could use the extra income, you could tap into this highly lucrative business opportunity.
Coworking spaces are a great way to maximise the use of idle properties and even large homes. Get in touch with a local franchise or get your home listed in one of the many sites that list flexible workspace locations. All you need is a bit of creativity and a few adjustments here and there.
