Margin squeeze in superheated co-work sector
| Sep 2019 |
In an interview with The Age, Founder and CEO of JustCo, KONG Wan Sing says that the Australian coworking sector has only penetrated about 3-4 per cent of the overall Sydney and Melbourne office markets. Wan Sing emphasises that co-working is the future of work, although the market has shifted from the original open-plan communal spaces to housing private offices for substantive organisations, including large corporates and Fortune 500 companies. JustCo currently has two Sydney centres operating at 175 Pitt Street and 60 Margaret Street, and three in Melbourne at 276 Flinders Street, 15 William Street and Collins Arch.