Coworking is when several workers from different businesses share a space to work. Sharing spaces reduces costs as there is shared use of common utilities, equipment, and even receptionist services. Coworking is attractive to independent contractors, freelancers, small to medium enterprises, working-from-home professionals, and people who need to work but travel often.

There are several opinion pieces circulating online on what the future of coworking will look like after the effect of COVID-19. Ultimately, two general opinions surface: coworking spaces will continue to grow once the pandemic is over, or coworking spaces will become redundant, and the move back to the traditional office model will be once again be prevalent.

Without a doubt, coworking spaces are not a viable option during a pandemic as there is a need to social distance – the notion of sharing spaces and utilities with employees from other companies is not ideal when one is meant to minimize all interaction with others as much as they can. A result of social distancing measures, businesses have changed the way in how they conduct their activities and there has been a never-before-seen rise in remote working on a global scale. We may even see that in a post Covid-19 world, regulations might be implemented surrounding office density as well as more stringent hygiene procedures when sharing equipment. Yet amongst all these changes to the ways businesses generally conduct their activities, coworking spaces and the need for flexible offices will flourish once the pandemic is over.

Gipps Cromwell Quarter (GCQ) & Flexible Office Spaces

After the pandemic, businesses will strive to protect themselves from uncertainties in the future. As long-term leases are a fixed commitment, businesses may shift to flexible leasing alternatives such as coworking spaces so that they can save costs in case of another unprecedented event in the future. In addition to this, after experiencing the global shift in attitudes to remote working, it is unlikely that workers will come back to work at the five day a week 9-5 working arrangement that was in place previously. As office spaces may no longer function at full capacity, there might be a shift from the traditional, rigid, long-term leasing of office spaces. It is also important to note that whilst it is unlikely that we will see employees return to the 9-5 workdays, it is also unlikely that employees will want to work from home constantly. This is due to the many home distractions such as children and pets, the inability to access office utilities such as printers or internet connectivity, the blurred line between work and leisure in the home, and the wider feeling of being socially isolated and disconnected from others. Flexible office spaces will therefore be necessary as each employee’s work situation will be different – instead of having a desk for each employee for every day of the week, offices will be flexibly arranged to have a desk for an employee for when they are to work.

At Alpha14 Property Group, we are excited to contribute to the rise in demand for flexible office spaces post Covid-19 at Gipps Cromwell Quarter (GCQ). GCQ is our exciting new build in Collingwood and it introduces 9000sqm of A-Grade, collaborative flexible office spaces over 11 levels. This provides opportunities from small to large scale businesses to flexibly work and to accommodate those employees who need to come into a work environment. GCQ’s floors have been designed to maximise natural light and Melbourne’s CBD views, a sure sight for those tired of working from home. Fit-out space is maximised as all services are ceiling-run, delivering the most efficient workplace solutions, and the large floor space will allow employees to maintain their distance from each other. Floor space is also large enough so that it can also be customised to suit individual business needs. Melbourne will experience a surge of demand for flexible working spaces after COVID-19 as businesses will seek to work flexibly, and GCQ is perfectly set to meet these demands.

GCQ is due to be completed July 2021.

For more information about GCQ, read the following articles:

The Australian – RF CorVal moves on Collingwood office market

Real Estate Source – AUS Finance Group sells Collingwood office for $75.5 million – off-market

Sydney Morning Herald – CorVal buys Collingwood office in $75m deal

Australian Financial Review – RF Corval acquires $75.5m Collingwood co-working tower

The Urban Developer – RF CorVal Swoops On Collingwood Tower

The Alpha14 team boasts more than 50 years collective industry experience developing and managing projects, spanning the commercial, industrial, retail, childcare, and residential sectors in some of Melbourne’s most sought-after and inner-city locations.

For more information on our projects, experience, or joint venture and partnerships, contact projects@alpha14.com.au