WeWork expands into Brisbane
Brisbane CBD office space is diversifying with US co-working juggernaut WeWork expanding into the Queensland capital, taking out a lease on 310 Edward St.
Located opposite Central Station in the heart of the CBD, the Daisho-owned building will accommodate more than 1000 people in individual workspaces or small offices.
Brisbane is WeWork’s third city in Australia after Sydney and Melbourne, and general manager Balder Tol says it was an obvious choice.
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“The growing tech network made Brisbane an ideal fit for WeWork,” Tol says.
“We’re excited to grow our WeWork community here and connect over 1000 of Brisbane’s brightest entrepreneurs and business leaders to our network of over 253,000 members globally.”
Shared office space is one of the fastest-growing segments of the commercial leasing market, and Tol says WeWork is keeping up with demand.
“WeWork doubled its presence in Australia over the past year and we anticipate that we will more than double in the next,” he adds.
The Brisbane co-working space will open later this year.
In another option for “boutique businesses”, Dexus has begun construction of its new office building The Annex at 12 Creek St in Brisbane, comprising 12 floors and a rooftop “sky terrace”.
Dexus chief investment officer Ross Du Vernet, says The Annex will be a unique opportunity for smaller businesses to have a front-door address in Brisbane’s Golden Triangle.
“This development will create an innovative multi-let product for Dexus’s Brisbane portfolio, and is in addition to plans for the broader Waterfront Precinct to transform Eagle Street Pier and surrounds into a leading premium business and leisure destination,” Du Vernet says.
The design incorporated a “community atmosphere” with an operable facade to allow natural air flow, and a series of gardens cascading from the roof top.
The building should be completed by late next year. Broad Construction is the builder and Mark Curtain and Chris Butters at CBRE have been appointed to market the project, targeting professional services.
This article originally appeared on www.theaustralian.com.au/property.