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How a Flexible Office in Sydney Can Save You Millions

Hybrid Work

Hub Australia

30th September 2020

5 min. read

Flexible office spaces in Sydney are 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 flexible workspaces and coworking spaces, with a myriad of additional benefits.

When you compare the costs for a 20-person privately-leased office space in Sydney to flexible office space at Hub Australia, the difference can be over 2 million dollars.

Read more: How to Design the Right Workspace for Your Team

Comparison between a commercial lease and flexible office space 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 a private suite at Hub Australia for your growing team, along with the flexibility to move to larger or smaller spaces within the workspace, and access all events and amenities provided in your all-inclusive agreement.

COVID Safe spaces for every business

With the vast impact COVID-19 has had on workspace expectations and safety requirements for team members, there is a lot to manage to ensure you have done all you can to provide COVIDSafe spaces for your team.

Many private commercial leases have high costs per square metre, pushing businesses to choose as small a space as is feasible. With the growth of social distancing and recommendations of density, this can be difficult to navigate.

Hub Hyde Park and Hub Customs House are COVID Safe registered spaces through the NSW Government, with measures in place to monitor air quality, the number of people in the space at all times, heightened cleaning standards, and a number of other health and safety initiatives.

Although every member and team is required to observe and participate in these safety measures, the rollout, planning, and fit-out of all equipment is managed by Hub Australia at no extra cost.

Amenities, utilities, and fit-out

The cost of a commercial lease doesn’t include providing additional amenities many teams appreciate and prioritise. Flexible office spaces such as Hub Australia offer exercise studios and equipment, an in-house café, hosted welcome desk, breakout spaces, and more.

In your own privately-leased space, the fit-out and establishment of these spaces would involve a substantial initial cost and effort, and would also require additional maintenance a larger space. and staffing requirements.

All utilities are also included in your monthly pricing, removing the risk of unexpected electricity and internet bills affecting your cashflow – everything is managed, right down to keeping the plants flourishing.

“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, benefits, and opportunities

Hub Australia’s spaces provide every member and business with opportunities to grow their communities, networks, professional skills, and more.

With regular events online and in-person, and a number of dedicated online communities, members can connect with each other to share knowledge and collaborate.

Hub also offers a large range of member benefits, with free services and discounts on everything from groceries and technology to software and fashion. Hub offers as much value as possible into every membership, giving your business more tools to attract and retain the best team.

Read more: How to Keep Your Company Culture While You Scale

Flexibility and growth

If you’re managing a 20-person team and need to grow during your lease term, you can spend up to $2m more during the lease to cover the required growth in space and fit-out.*

Flexible workspaces in Sydney are designed for these changing needs, offering different workspace solutions to help you find the right interim solution, move to a larger office suite, or take advantage of our interstate network.

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. Hub’s flexible offerings have meant we’re on the move again to an even larger space with our own internal meeting rooms.” – Benjamin Jones, Mobi2go

Securing an office with Hub Australia in Sydney not only saves you potentially large amounts of money, but 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.

*based on CBRE estimate of 25% growth and 25% uncertainty

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