Coworking in Sydney is challenging the norm of traditional commercial leases, offering flexibility, community and more.
Sydney has a reputation for expensive real estate, and commercial businesses are no different.
Businesses can save hundreds of thousands of dollars in rent and operation costs by moving into coworking in Sydney. When you compare the costs for a 20-person team looking for office space in Sydney, the difference can be over 2 million dollars.
Comparison between a commercial lease and coworking in Sydney
By using CBRE’s comparison calculator, a company of 20 employees looking for a 3-year lease in Sydney and looking to grow by 15% during that time will be looking to pay between $2.8m and $3.2m over their lease.
On the other hand, three years of coworking in Sydney with the same conditions can cost $2 million less.
Over three years, an estimated $919k can provide you with a private suite for your growing team as well as the flexibility to move within the coworking space, as well as access all the events and amenities provided by the space.
Amenities and fit-out
The cost of a commercial lease doesn’t include providing most of the amenities you receive in a coworking space, such as exercise studio and equipment, in-house café, hosted welcome desk, breakout spaces and more.
This would not only cost more in maintenance and initial cost for your traditional lease but also require larger space and staffing requirements.
All utilities are also included in your membership of a coworking space, meaning you never need to stress about an inundation of electricity and internet bills affecting your cashflow.
“At Hub there isn’t a need for us to sort out all the logistics, maintenance, utilities and all that – we have a business trying to grow pretty rapidly, so we’ve got a lot of other things to do.”-Rob Chignell, Engage Marine
Events and opportunities
Hub Australia’s coworking spaces are focused on providing every member and business with opportunities to grow their communities, networks, professional skills and more.
With regular events hosted by Hub, and a dedicated member portal allowing members to connect with other members to share knowledge and collaborate, a coworking space helps you offer more to your team.
Flexibility and growth
The nature of coworking lends itself to flexibility.
If you’re part of a 20 person team looking to grow during your lease term but unsure of when, you can spend up to $2m more during the lease to cover the required growth in space and fit-out.*
Coworking in Sydney is much more flexible, offering different workspace solutions so you can find the right interim solution for your team or move to a larger office suite.
Hub Hyde Park and Hub Customs House each offer customisable suites for teams of all sizes, and a dedicated New Member Lead can help create the right custom solution for your team as it continues to grow.
“We started with a 6-person office at Hub and have recently moved to a 12-person office.Benjamin Jones, Mobi2go
Hub’s flexible offerings have meant we’re on the move again to an even larger space with our own internal meeting rooms.“
Coworking with Hub Australia in Sydney not only saves you potentially large amounts of money you can reinvest into your business, it also makes the job of running an office immensely easier.
To find out more about how coworking can accommodate your team, get in touch today.