Co-working office space provider WeWork has expanded its Australian presence, securing the eighth location for the New York-founded company.
WeWork has inked a deal with Daisho Properties, taking out a lease at 310 Edward Street right opposite Brisbane’s Central Station.
The Brisbane location is set to open later this year, making it the third Australian capital city for WeWork, with the company already establishing its presence in Sydney and Melbourne.
Shared office space is one of the fastest-growing sectors of the commercial leasing market, increasing by 62 per cent last year, and 300 per cent since 2013, according to Knight Frank research.
Hub Australia secured a 10-year lease on an Adelaide Street Brisbane heritage complex in April, marking the seventh location for the co-working office space provider.
WeWork Australia general manager Balder Tol said the company has doubled its presence in Australia over the past year. WeWork have five open locations with three in Sydney and two in Melbourne, and two currently under construction in Sydney's 64 York and 383 George St.
“The growing tech network and business opportunities locally make Brisbane an obvious choice for our next city in Australia,” Tol said.
“We’re excited to grow the WeWork community here, and connect over 1,000 of Brisbane’s brightest entrepreneurs and business leaders to our network of over 253,000 members globally.”
The privately-held company was founded in 2010 and currently has more than 283 global locations in 75 cities internationally.
Daisho portfolio manager Belinda Kalinin said the company was delighted to welcome the shared office provider as a new tenant partner.
“We share a strong alignment on the value of community in the modern work environment.
“Not only are we excited to partner with WeWork as an organisation that fosters a diverse network of entrepreneurs, freelancers and small businesses but we also see a fantastic synergy for a number of our current larger corporate occupiers to partner with WeWork in the future.”