Flexible commercial space marketplace Spacenow records 550% growth due to COVID

2 minutes |

27 August 2020

Spacenow today announced that its flexible commercial space marketplace has registered a surge in demand from business owners and individual workers looking for alternatives to long-term commercial space leases as a result of the Covid-19 pandemic and the pivot to remote working.

Since March 2020, Spacenow has recorded a +290% increase in new customers, and recorded a +550% increase in enquiries from both large corporations, SMBs, start-ups and sole traders looking for short term, modulable and Covid-Safe flexible office space options closer to home.

The platform has also surpassed 5,000 listings across Sydney, Melbourne, Brisbane, Perth and Adelaide, with new listings added to the platform every day and customers including Canva, Uber Eats, Merivale, Stan, Allianz, Hoyts, and Woolworths.

Recruiting agency Real Time Australia has ditched its two Sydney & Melbourne offices, now fully reliant on Spacenow for all its commercial space needs.

“The current economic uncertainty and social distancing measures mean that large corporate offices and CBD areas across Australian cities will continue to lay dormant for a while. However, working for home every day for months on end isn’t a sustainable model for workers both from a workspace set-up and mental health perspective. There needs to be another model that supports this shift to remote and hybrid work, one that helps bring work closer to people’s homes, in a safe environment”, explained Daniel Gunning, CEO of Spacenow.

Spacenow has today launched Flexible Project Spaces, in partnership with Aussie professional cleaning services marketplace Whizz. It is part of a Covid-19 decontamination service.

With Flexible Project Spaces organisations from all sizes as well as individual professionals and workers can rent any type of space – whether it be a single desk, a meeting room, a full office floor, an event space, an offsite venue or more – by the hour, day, week or month depending on their changing needs.

The Decontamination Service uses a process called antimicrobial fogging which decontaminates touch points and creates a barrier that provides on-going surface protection for up to 28 days.

According to Anthony Pettiona, CEO, Whizz, “Spacenow is answering a growing need in the commercial space market as more organisations are looking to move to flexible working spaces. This is a trend we also see at Whizz and we believe it is vital for businesses and workers to know that they can safely transition to this new model with confidence. This partnership will be instrumental in helping more businesses become adaptable and build resilience in those difficult economic times.”

Gunning added, “The rise of those flexible, short-term commercial spaces is what will build resilience for both businesses and the property market. On one end it allows property owners to drive better utilisation and higher revenue from their property assets – we’re even seeing hotels transform their rooms into workspaces, while businesses on their end can find affordable solutions to the remote work conundrum, ultimately making consequent leasing savings that they can re-invest in what matters more to their business.”

Read the original article here: https://www.propertyobserver.com.au/forward-planning/investment-strategy/property-news-and-insights/116575-flexible-commercial-space-marketplace-spacenow-records-550-growth-due-to-covid.html