Builder-developer ALAND has drawn back the curtain on its first city-focused new apartment development.

The North Sydney development, <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-173-179-walker-street-north-sydney-nsw-2060">The Walden</a>, is the first time the company has ventured this close to the city, having previously completed thousands of apartments predominantly in Sydney's west, and more recently in Gosford.

<a href="https://www.apartments.com.au/developers/aland">ALAND</a> acquired the prime North Sydney site, spanning Walker and Hampden Streets just down the road from the Victoria Cross Metro station, for $240 million in June.

Now they've unveiled the new project, a mix of one-, two-, three- and four-bedroom apartments across a 30-level building designed by Rothelowman.

[smartcode_project:default project_id=134323 project_image_fid=6384]

The Walden will capitalise on the site’s front-row position on the eastern fringe of the <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> CBD, which offers uninterrupted Sydney Harbour views stretching from the Sydney Harbour Bridge all the way to Sydney Heads.

The main tower will be flanked by a small four-level amenity building known as The Pavilion, offering exclusive resident-only amenities including a dedicated concierge service, a sauna and private wellness studio, a gymnasium and fitness studio, a resort-style rooftop pool and sundeck.

There will also be a&nbsp;residents’ lounge, private dining and a wine cellar, and co-working facilities with an on-site meeting room and boardroom.

&nbsp;

&nbsp;

[smartcode_project:default project_id=134323 project_image_fid=6382]

ALAND Founder Andrew Hrsto said the company knew they could create something "iconic" with The Walden when they saw the site.

&nbsp;

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic – being the last development with a view offering this exceptional.

“We identified the attributes and quality of the site as being perfectly aligned for ALAND – and we feel that this off-market acquisition is a perfect opportunity to showcase our craftmanship and expertise through a truly unique offering."

[smartcode_project:default project_id=134323 project_image_fid=6399]

Hrsto pointed to ALAND’s longstanding development expertise as a significant benefit in delivering a positive outcome for The Walden.

“Being a fully integrated development and construction business with a highly experienced team, we have the benefit of in-house experts across the development spectrum, from acquisitions, design, planning, and construction, to sales, marketing, property management, through to building management.

“As one of Australia’s largest private development and construction groups, we’ve been in operation for 23 years, with a Gold Star iCIRT rating and a 100 per cent delivery success rate across numerous masterplanned and mixed-use projects – and we’re very much looking forward to bringing this expertise to The Walden and contributing to the ongoing revitalisation of North Sydney."

The Walden is the latest development in Sydney to have the 10-year Latent Defects Insurance policy by Resilience Insurance, protecting buyers from any structural or waterproofing-related issues for 10 years post-completion.&nbsp;

Demolition of existing structures on The Walden site has already commenced through specialist civil contractor Moits, with the aim of completing preparatory ground works by the end of 2025, ahead of construction commencement in early 2026.

[smartcode_project_cta:default project_id=134323]

Joel Robinson

ALAND unveils The Walden, North Sydney's latest luxury apartment development

<a href="https://www.apartments.com.au/developers/toga-group">TOGA</a> has opened sales for the final building in Macquarie Rise, its latest mixed-use development in Macquarie Park.

Since launching its <a href="https://www.apartments.com.au/new-apartments/macquarie-rise-122-herring-road-macquarie-park-nsw-2113">Macquarie Rise</a> in late 2023, TOGA has secured over 125 sales in the Herring Road development, to a range of purchasers, from first home buyers to investors and downsizers. Around 65 per cent of purchasers have been owner-occupiers.

TOGA has now launched a new release of one-, two-, and three-bedroom apartments in the final building, Saunders Rise. Many of the apartments feature multi-purpose rooms and offer views of the surrounding greenery. Also part of the release is a series of&nbsp;sub penthouses housed on the upper floors.

[smartcode_project:default project_id=89243 project_image_fid=242696]

&nbsp;

“We’re delighted with the ongoing strong interest in our Macquarie Rise development, which is testament to the need for premium housing in this much-loved Sydney suburb,"&nbsp;Allan Vidor AM, Managing Director at TOGA, said.

"We’re proud to be able to offer buyers a unique product that includes luxury amenities, spacious living areas and flexible layouts, designed to suit all kinds of buyers, from young professionals to families and investors.

“We have long been advocates of Macquarie Park, and once Macquarie Rise is complete, TOGA will have built 1,000 apartments in the area, delivering much needed homes within a thriving precinct. It’s great to see the area become renowned for high-quality apartments, proximity to amenities and green spaces."

TOGA, one of Australia’s few Gold Star iCIRT rated developers, is also handling construction of Macquarie Rise. They are on track to complete the building in 2027.

[smartcode_project:default project_id=89243 project_image_fid=310789]

Macquarie Rise boasts a prime location, placing residents within immediate reach of Macquarie Centre, Macquarie University, and the newly completed Macquarie University Metro, connecting to the Sydney CBD is just over 20 minutes.

&nbsp;

Macquarie Rise residents also have access to Club Rise, an exclusive, residents only lounge designed by luxury hotel designers Stack Studio, offering an abundance of work and break-out areas, a Pilates studio, a gym, and a karaoke room. As well as these premium amenities Macquarie Rise will also feature an impressive podium top 20m lap pool.

[smartcode_project:default project_id=89243 project_image_fid=242695]

“Offering luxury, spacious apartments in a vibrant and well-connected neighbourhood, it’s no surprise that Macquarie Rise remains popular with a range of buyers," said TOGA's General Manager of Sales, Anthony Falas.&nbsp;

"With interest rates tracking downwards, we expect the final apartments to continue to receive high levels of interest.”

Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of over $400 million.

&nbsp;

[smartcode_project_cta:default project_id=89243]

TOGA launches final stage apartments in Macquarie Rise

Southern Cross Station anchors the western end of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a>’s CBD, connecting metropolitan and regional rail with tram and bus interchanges in one of the city’s busiest transport corridors.&nbsp;

Just metres away, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a>&nbsp;will place residents in the heart of the city, with immediate access to Spencer Street trams, a growing mix of retail, hospitality and cultural venues, and a neighbourhood evolving into a lively residential precinct.

Developed by <a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a>, the 68-level project integrates a sculptural glass tower with the heritage-listed Eliza Tinsley Building on a 2,765 sqm Bourke St site.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=335425]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the development replaces a previously approved scheme for 813 apartments with a refined offering of just over 600 larger-format residences, responding to a growing owner-occupier demand for spacious city living.

The location sits within a dynamic pocket undergoing significant transformation. Marvel Stadium and the Docklands waterfront are less than 10 minutes away on foot, offering both sports and leisure attractions.&nbsp;

Bourke Street Mall, Queen Victoria Market, and the State Library are all within walking distance, while Flagstaff Gardens, Melbourne’s oldest park, provides a green escape just to the north.

&nbsp;

[smartcode_project:default project_id=509 project_image_fid=335422]

Proximity to some of the city’s largest employers and education hubs, including the courts precinct, legal chambers, RMIT, and major hospitals, makes 640 Bourke Street an appealing residential address for professionals, families and students alike.

Education opportunities span all levels. Nearby, Haileybury City Campus offers private schooling just a short walk from 640 Bourke Street. Just beyond the CBD fringe, Carlton Gardens Primary School, one of Melbourne’s oldest state primary schools, and Docklands Primary School provide convenient government schooling options.

Higher education is equally accessible. RMIT University’s city campus spans multiple buildings just a few blocks away, while the University of Melbourne’s Parkville campus is easily reached via tram along Swanston or Elizabeth Streets.

Victoria University’s City Queen campus, focused on law and business, is also close by, positioning 640 Bourke Street within walking distance of three of Melbourne’s major tertiary institutions.

[smartcode_project:default project_id=509 project_image_fid=335426]

The neighbourhood’s retail tapestry continues to evolve into something distinctly local and walkable. Just steps away, Woolworths Metro on Bourke Street ensures that everyday essentials are easily within reach.&nbsp;

For larger shopping trips, Spencer Outlet Centre on Spencer Street and QV Melbourne on the opposite side of the CBD broaden the offering with supermarkets, fashion, dining and specialty stores.

The lane-to-lane vibe unfolds beautifully in nearby arcades and alleys. Hardware Lane, with its European-style red-brick paving and alfresco dining, pulses with jazzy evenings and casual lunches.

A few minutes north, Howey Place and Centre Place offer leafy, boutique-lined lanes where hidden cafés and niche retailers congregate under historic glass-covered cloisters.

Completing this tapestry is the newly opened Mecca “beauty playground” on Bourke Street. Spanning 4,000 sqm over three levels, the flagship blends immersive retail within an art-deco heritage setting.

&nbsp;

[smartcode_project:default project_id=509 project_image_fid=335427]

This finely grained network of shops, eateries, arcades and service outlets defines the everyday lifestyle at 640 Bourke Street - further enriched by over 3,000 sqm of resident amenity including a Turkish-inspired pool, gym, co-working rooms and private cinemas.&nbsp;

Apartments are priced between&nbsp;$640,000 and $3.95 million. Off the plan stamp duty concessions available until October 2026. Prospective buyers can visit the on site display gallery which has&nbsp;fully built one, two, and three-bedroom apartments.

[smartcode_project_cta:default project_id=509]

640 Bourke Street: A heritage address at the heart of Melbourne

Lower North Shore development specialists&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>&nbsp;has topped out its new local apartment development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/northcote-collective-naremburn-2-6-northcote-street-naremburn-nsw-2065">Northcote Collective</a>.&nbsp;

Located in the tightly held suburb of <a href="https://www.apartments.com.au/developments/naremburn-nsw-2065">Naremburn</a>, Northcote Collective is a collection of just 58 one-, two-, and three-bedroom apartments designed by award-winning architects Rothelowman.&nbsp;

The building is just a five to 10 minute walk from the heart of Crows Nest and the new&nbsp;St Leonards and Crows Nest Metro stations. Abadeen has also brought doorstep convenience, with a ground-floor retail offering on Northcote Street.

Northcote Collective is being delivered by&nbsp;<a href="https://www.apartments.com.au/builders/decode">Decode</a> — an iCIRT-rated construction company well regarded in the new development industry.

[smartcode_project:default project_id=114189 project_image_fid=272840]

“This is an important and exciting moment for Northcote Collective, and we’re proud to celebrate this milestone with our partners, consultants, and future residents,” said Justin Brown, Executive Chairman and Founder of Abadeen.&nbsp;

“From the outset, our vision was to create something truly special for Naremburn — homes that respect the character of the neighbourhood while elevating the standard of Lower North Shore living. With connectivity to transport, retail on the doorstep and a true village lifestyle, this milestone also comes at a perfect time when buyer confidence is returning to the market. I am incredibly proud of our team and of Decode for their dedication in helping us bring this vision to life.”

[smartcode_project:default project_id=114189 project_image_fid=272865]

The development is two-tiered, with two rooftops for residents. The taller building has an impressive rooftop pool, a rare inclusion in the new Sydney apartment market. The level, with panoramic views, also includes an entertaining terrace with barbecue facilities.

Local downsizers and young professionals are showing the strongest interest in the development, with recent improvements in the property market — supported by three rate cuts in 2025 — boosting borrowing power and buyer confidence.

Auction activity across Sydney surged by almost 30 per cent in recent weeks, with clearance rates above 70 per cent — signalling a renewed wave of buyer demand.

Northcote Collective will welcome buyers in 2026.

[smartcode_project_cta:default project_id=114189]

Abadeen tops out Northcote Collective in Naremburn

Sunshine Coast-based <a href="https://www.apartments.com.au/developers/devcon-property-group">Devcon Property Group</a> has acquired one of Maroochydore’s most prominent development sites for $12 million unlocking the potentialfor a mixed-use project in the Cotton Tree precinct.

&nbsp;

The 4,178 sqm site at 41–43 Aerodrome Road—well known locally as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market expressions of interest campaign by Colliers agents Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property.

Devcon Property Group Managing Director Michael Kain said the acquisition was a strategic move in line with the company’s focus on delivering high-quality projects in prime coastal locations.&nbsp;

“We’re excited about the possibilities this site, in one of the Sunshine Coast’s most iconic beachside &nbsp;communities, offers for a broad range of development outcomes,” Kain said.

“Its location, ocean view potential, and proximity to the Maroochydore CBD and beach make it an &nbsp;outstanding development prospect. Our plans are to refurbish the existing building and then review &nbsp;development options for the remainder of the site.”&nbsp;

<img alt="Aerodrome Rd site overlooking Beach (Large)" data-entity-type="file" data-entity-uuid="a29dc4ed-68c1-4bec-a4fc-283063dcde1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerodrome%20Rd%20site%20overlooking%20Beach%20%28Large%29.jpg?VersionId=b0WxJWevmLoAfCP4YvGImZpR3rSCJJ9L" />

Colliers Special Projects Manager Baydn Dodds said the sale reflected the ongoing strength of the &nbsp;Sunshine Coast’s development site market, particularly for projects capable of achieving water views. &nbsp;

“Sites of this scale, in walkable beachside locations with ocean views, are tightly held and continue to attract significant interest from both local and national developers,” Baydn Dodds said. &nbsp;

“Holding a prominent position as the former home to one of Australia’s last Sizzler restaurants and more recently occupied by Rashays, the prime site is located just 150 metres from Maroochydore Beach.&nbsp;

“With stunning ocean view potential, located in one of the Sunshine Coast’s best known iconic &nbsp;beachside communities, within steps of shops, cafes and the beach it is no surprise that there was strong interest in the site. The transaction highlights the ongoing depth of demand for well-located &nbsp;mixed-use sites across the Sunshine Coast.”&nbsp;

Colliers Sunshine Coast Managing Director Nick Dowling said the transaction reinforced the &nbsp;Sunshine Coast’s status as one of Australia’s most active development markets.&nbsp;

“The combination of strong population growth, lifestyle appeal, and infrastructure investment is &nbsp;driving demand for quality development opportunities,” Nick Dowling said. &nbsp;

“The Sunshine Coast is one of only three markets nationally to record an increase in crane numbers, &nbsp;reflecting the strength of the region’s construction pipeline.&nbsp;

“Opportunities like this are rare and continue to generate strong buyer interest in the region.”&nbsp;

The Sunshine Coast development market is booming, with several high-profile developers like Cube Developments, Gardner Vaughan Group, and RCQ, planning developments in the region.

Devcon buys Sunshine Coast’s former Sizzler site for new apartment development

Workplace

<html><body>
<h2>OPINION:</h2>

The current climate has ushered in a seismic shift in work culture, as many employees transition into a work from home set-up. 

At Hub Australia, we are already seeing an increased demand for space from companies who may have previously favoured a long-term commercial office model. As many workers, and more importantly their managers, adapt to working from home, the need for the same quantity of space at headquarters will reduce. The importance of having a place for businesses and their teams to connect, learn and innovate will not go away. The culture of professional co-working spaces is well suited to meet this demand.

Along with this, offices will have to shift their focus from real estate providers to a more experience-centric model in order to attract people to come to the office. Traditional working as we know it is being flipped on its head at a rapid pace.

<h2>Goodbye to the traditional office lease</h2>

As we see it, the traditional office lease will be less relevant to companies post-COVID-19. There was already a movement by corporates to have part of their office requirements met by flexible workspace operators, Covid-19 will serve to quicken the pace of this movement, but also to enlarge it. Organisations will need to offer work from home flexibility, as well as provide access to a ‘work base’, which could be suburban work hubs and CBD coworking spaces.

<h2>A move to distributed working</h2>

A single headquarters with high densities in an open plan environment no longer seems like the best idea post-COVID-19. We’re predicting that employers will need to cater for a distributed workforce and provide multiple working environments, that could be a company HQ, home and third spaces. Work-life balance, commute times and the rising cost of living means that working closer to home has long been a priority for many employees. But not everybody’s home is going to be an appropriate work environment, and many employees crave the social and community aspects of the workplace, so the blending of the two will be essential.

<h2>Set-up for virtual success</h2>

Not only will flexible working become the new norm, but coworking providers will need to innovate their offering. At Hub Australia, we are launching a virtual offering at the start of May that offers members the ability to join the community virtually, with access to mailing packages, software discounts, video conferencing and the ability to work flexibly from Hub Australia locations when they need to. Setting members up for success virtually will become the norm.
</body></html>

Why a distributed model is the future of the workplace

<html><body>
Creating a flexible workplace is the key to motivating employees according to CBRE.
CBRE's recent presentation, ‘How to Create a Workplace that Connects Your People and Anchors Your Brand’, discussed the future of office space and the importance of authentic placemaking.
Nicole Fitzgerald, CBRE’s Director of Workplace Strategies said flexible working and mobility was predicted to be the biggest disruptor for how businesses operate leading up to 2020.
“Flexibility is resonating with staff and this is impacting how and where people choose to work. We need our talent to choose our office because they know they will perform better, form better relationships and can influence decisions,” she said.
Rhian Windridge, of CBRE’s APAC Project Management team noted that what companies are doing in their workplace has become part of their corporate identity and vital to attracting and retaining top industry talent.
“When a group of executives were surveyed, the top source of competitive advantage was attraction and retention of top talent, and what we have found is that retention is higher in areas with strong placemaking elements,” she said.
“As a result, we have seen a major shift towards companies utilising brand storytelling through place, as it allows staff to relate and connect meaningfully with their workplace.
"Placemaking elements have the ability to express to people what the brand’s identity means and allows staff to experience what the company is achieving.
“Connecting staff through food and hospitality facilities, creative and collaborative areas, embedding wellness into the company’s culture using space and incorporating green space are all strategies that enable staff to respond positively to their workplace.
“Offices facilitate the coming together of different businesses lines to be inspired and reenergised.
"People do their best work when they come together – so there will always be a need.
</body></html>

jonathanchancellor-7SQnKwU6yx

The future of offices lies in the power of placemaking

<html><body>
The majority of respondents to a JLL survey at TEDxSydney rate face to face contact very high in the workplace of the future (88 percent) and 59 percent still want a physical workplace but wouldn't create a CBD if they could.
Some, 81 percent liked the idea of an eco-campus where individuals could live, work and play, 57 percent wouldn’t create a CBD and 78 percent of people wanted to create small self-sufficient communities.
Results from the survey were used to create a new white paper from JLL titled ‘Is humanity the future architect?’.
Rajiv Nagrath, JLL’s Australian head of corporate account management said the research found that, despite technological advancements and the potential impacts of robotics and artificial intelligence, there was a desire for a future dependent on people, not machines.
"Even though it was acknowledged that future technology would allow work to be done anywhere, 88 percent of respondents still placed high value on face-to-face interaction in the workplace of the future," he said.
“While technology continues to evolve at a rapid rate, our basic needs and wants of human connection remain consistent with what they were 100 years ago.
“There will still be a desire for continued human engagement, connected communities and workplaces that foster co-working and entrepreneurship."
Richard Fennell, JLL’s Australian head of property and asset management said the results unanimously focused on human connections and a desire to be closer to nature.
"Some 92 percent of respondents wanted to create a responsive workplace that adapts to enhance the health and wellbeing of its inhabitants," he said.
"It seems that amongst our condensed and densely populated skylines, the people living and working within them are craving more open spaces, more air, and more natural materials and environments.
“Buildings in 2050 will respond and adapt to the people within it. For example, when you enter a lobby, the building will receive a biometric reading of your heart rate, general health and even your age. 
"This information will be used to enhance your experience within the building, such as temperature, sound, smell and visual adjustments via implanted devices or wearable technology."
 
</body></html>

Employees still want a physical workplace in 2050: JLL

<html><body>
Workplaces of the future could be inflatable. That's the vision to emerge from the “Tomorrow’s Workplace” design competition from Staples Business Advantage and Metropolis magazine.
The entries included a forecast that in 2021, the workplace may include inflatable pods set up in urban parks.
“The massive corporate office tower, usually a glass box with central air pumped in, is turning into the dinosaur from the 20th century,” said Susan S. Szenasy, publisher and editor in chief, Metropolis.
“Workplaces will become more multi-generational and multi-functional.
"One thing is sure—today's office is not your father's or mother’s office.”
Jie Zhang, is an architect and co-founder of OPT, celebrated the rapidly growing freelance economy.
Her FoAM was a combination of easily deployable inflatables that create personal mobile offices, which can be set up in a dense network of urban parks transformed from vacant parking infrastructure. The inflatables are collapsible and equipped with digital technology so workers can connect wherever they are.
<img src="/images/2016/12/07/Screen%20Shot%202016-12-07%20at%201.27.19%20PM.png" alt="" width="588" height="378">
She envisaged digital nomads, with inflatable offices that can be set up practically anywhere.
These collapsible structures are insulated, both thermally and acoustically
One of Zhang’s submitted diagrams shows a person carrying the inflatable in a shoulder bag.
The directions: “arrive,” “unroll” and “inflate.”
It was pointed out that the inflatable is actually not a new idea; it was already kind of an experimental architectural object from the ’60s by radical design groups from Italy and the University of California, Berkeley. 
The co-working trend has grown recently to total 27 million square feet of office space, which 0.7% of the total U.S. office market, but substantial for a niche that barely existed just years ago, <a href="https://www.us.jll.com/united-states/en-us/research/office/coworking-space-the-landlord-perspective" target="_blank">according to a Jones Lang LaSalle report.</a>
Companies like Regus and WeWork dominate the industry.
But WeWork didn’t exist before 2010, and now they occupy 5 million square feet, said Julia Georgules, director of research for the office sector at Jones Lang LaSalle.
</body></html>

jchancellor-FAypfDUnLy

Inflatable offices of the future for digital nomads

<html><body>
<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
In the past two weeks I’ve met two people who introduced themselves as global nomads.
By “nomads” they mean someone who moves from place to place with no fixed address, other than their email address. They consult wherever they go, and are enabled through technology to live and work from anywhere.
This new thinking about what and where work is performed is starting to influence thinking on where we live, offering an entirely new take on work-life balance.
Earlier generations had a job for life and lived close to the factory or office; work and life supported each other symbiotically. Today, while many people still co-locate near their primary employer, for others the “office” is anywhere with a reliable internet connection.
Working differently allows us to live differently. This thinking is what’s behind the “co-living” trend. Combined work and residential space is aimed at the flexible worker, the itinerant entrepreneur, the tech-fuelled millennial.
<h2>How it works</h2>
The idea is simple enough. A network of residential offerings provides semi-independent living across multiple locations; be it in one country or across many. Members pay a subscription and register in advance to secure a place, usually for at least a month at a time. In the early days, many operators are also allowing more short-term access of a few days at a time.
BASE, operating in Melbourne, Australia, aims to bring together young creatives in a co-living experiment. It incorporates a co-working space and regular events.
There are plenty of other co-living examples across the US in particular. Many appear to be driven by millennials eager to find new ways of bringing their work and life together. There is a theme of purpose-driven living that most if not all share.
While the majority of these offerings are centred on bringing together smaller communities, the emerging larger operators in this space include roam.co (previously Caravanserai). It has offerings in the US, Spain and Bali, with the UK and Argentina imminent. Nomadhouse.io boasts 18 locations across Europe, Morocco, Southeast Asia, the US and Colombia.
<h2>A new way of living</h2>
Recently, the world’s largest co-working space operator, WeWork (last year valued at US$10 billion), launched a new co-living spinoff, WeLive. It has two spaces in New York and Washington DC co-located above existing WeWork sites.
WeLive operates on a monthly subscription basis. It provides everything that you would expect from an Airbnb, with a dose of community that co-working members come to expect from WeWork, including its famous “unlimited beer and coffee”.
WeWork is betting big that its co-living model will be a hit. Leaked financials late last year reveal WeWork was expecting demand for WeLive to coincide with increasing co-working membership demand. In fact, WeWork expects income from WeLive memberships to increase to more than US$600 million in 2018, representing 21% of the company’s total revenue.
WeWork is opening its doors in two locations in Sydney shortly, but we don’t yet know if it has plans for WeLive in Australia. In an increasingly saturated local co-working market, the first challenge will be for it to gain traction in co-working.
<h2>Working alone together</h2>
Australia has seen rapid growth in co-working spaces, with more than 160 now operating. These cater to growing numbers of entrepreneurs, small business owners and, increasingly, corporate commuters looking for a change from the standard office environment.
Increasingly, too, these spaces are being recognised for their innovative potential by corporations interested in and working with emerging startups, such as Fin-tech hub Stone &amp; Chalk in Sydney, or in building deeper relationships with customers, like The Village by NAB in Melbourne.
<h2>Seeking a tribe? Enquire within</h2>
Living in share communities is nothing new. We’ve been co-living in various forms for a long time.
Many of the communes of the 1960s and 70s are still with us, albeit segregated from mainstream society. Kibbutzim have formed an important part of modern Jewish history. Share houses, dorms and fraternities have been rites of passage for many through university and early professional life. And the final co-living destination for many is the retirement village.
Are recent co-living “experiments” only for millennials who want to live an Airbnb lifestyle, or is this the start of a bigger shift in the way we live and work, and the continued blurring of any remaining line between them?
If recent research on the impact of co-working spaces is anything to go by, being part of a co-living community appears to have clear benefits. One recent global co-working survey found 70 percent of co-workers felt they had become physically healthier as a result of their membership; 70 percent strongly felt a sense of belonging and 74 percent experienced greater productivity in their work life.
It is this last statistic that may reveal the dark side of co-living projects such as WeLive, warning that the line between life and work may be all but gone for younger generations who pursue “efficiency in life” at all costs.
In a world where life and work continue to dance around each other, our need for purpose and belonging remains. Co-living ventures like WeLive may inspire us to rethink our relationship with work, and refocus on becoming a part of our local community. Or, perhaps, the gloss of the startup and entrepreneur life will start to fade, and we’ll realise there really is no place like home.
Tim Mahlberg is PhD Candidate, University of Sydney and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/tim-mahlberg-272846" target="_blank">here</a>.
</body></html>

Co-living is demolishing the line between work and life

<html><body>
The workplace is in a state of evolution, with the rise of co-working space redefining the parameters of office markets across the country as shifts in demand create new opportunities for commercial property owners.
A new CBRE Viewpoint highlights the rapid transformation of global office markets over the past five years, with businesses and individuals adopting co-working space models such as serviced offices and flexible desk leasing arrangements.
Since 2010, there has been exponential growth in the number of co-working sites across Australia, with advances in technology underpinning a rise in mobile and freelance working.
Across Australia, there are currently more than 120 co-working sites, with the majority located in New South Wales (30%) and Victoria (25%).
CBRE Research Analyst Anne Flaherty said technological advances were creating new business opportunities, which was spawning a rise in the number of start-ups.
“For these businesses, serviced offices present an attractive option, offering flexibility, affordability and the opportunity to meet and work amongst other entrepreneurs,” Ms Flaherty said.
“For many small businesses and start-ups that may not be in a position to commit to the requirements of a formal lease agreement, co-working spaces offer significantly greater flexibility.”
CBRE Director, Workplace Strategy, Matt Strudwick said technology had liberated organisations from the traditional view of the office being the place to work.
“Organisations are using a mix of spaces to provide an attractive proposition to their employees, service their clients more effectively and drive out some of the fixed costs of traditional office space,” Strudwick explained.
“Employees have been empowered to work from client locations and from home in the past, but co-working spaces offer something more. Co-working spaces are conducive to fostering and enhancing an entrepreneurial culture and a sense of team.”
“While the co-working office offers an attractive work space for start-ups and small businesses, it is not just these companies that we are seeing demand from,” Strudwick explained.
“There is a growing trend whereby big corporates are leasing desk space in co-working hubs, so as to expose their employees to new ideas and innovative working environments.”
Evidencing the trend, a number of major corporations, including NAB, have taken to co-working to drive their business outcomes with the objective being to engage with the small business community and find opportunities to partner with, or buy their ideas.
“There has been a sharp increase in the number of financial institutions partnering with existing co-working hubs, as well as launching shared office spaces across most of Australia’s capital cities,” Flaherty said.
“Co-working spaces are also being set aside at the existing office premises of some banks, for the exclusive use of their business banking customers.”
Strudwick said in addition to the benefits of flexibility, affordability and networking, co-working style office arrangements also offered businesses the advantage of agility.
“Agility is one of the biggest drawcards associated with co-working space, with it giving businesses the ability to adjust their space as they grow, shrink, move and reconfigure, while not being locked into a restrictive lease,” Mr Strudwick explained.
CBRE Executive Managing Director, Capital Markets, Mark Granter said the growing trend also presented opportunities for office owners and landlords looking to reposition assets for higher and better use.
“As demand continues to strengthen for flexible office space, assets that have been converted to capture this budding market will be positioned for capital growth,” Granter said.
“Unlike traditional office space, income flow for a co-working space is less dependent on a few, or single, tenants. With demand for serviced offices growing, owners of currently underused commercial assets may look to unlock value by considering the potential viability of conversion to a shared office space.”
</body></html>

prateek24-ezbwHMbNAk

Property 101: Office parameters changing amid rise of co-working phenomenon: CBRE

<html><body>
Fund manager Impact Investment Group (IIG) has launched what it calls The Dream Factory at its Footscray building acquired from Lonely Planet with the objective of making it a shared workplace for startups and technology-driven companies in Melbourne.
Melbourne-based IIG acquired the property at 90 Maribyrnong Street, currently the global head office of Lonely Planet Publications, in 2015 for $13.5 million. Lonely Planet will vacate the property prior to the end of its lease in October this year.
Set by the Maribyrnong River, the four-storey fully refurbished woolshed with over 7,000 square metres of loft style office accommodation will become home to some of Australia’s most innovative and disruptive businesses, IIG said in a media release.
“We are extremely proud of this particular property and its iconic transformation. We feel it’s a bold representation of our investment mandate to deliver strong commercial returns with tangible social and environmental outcomes,” IIG chief executive Chris Lock said. 
IIG has $360 million in funds under management across property and renewable infrastructure, and is owned by Lock and Small Giants, the private investment firm of Daniel Almagor and Berry Liberman.
Featuring energy-efficient technologies, The Dream Factory will commission Australia’s first Tesla industrial batteries and cover the roof with one of the largest rooftop photovoltaic solar systems in Australia, producing approximately 230 MWh per annum – to be passed on at no cost to the tenants.
There will also be a large 1,000 sqm communal rooftop garden and kitchen area with views over the Melbourne CBD and Port of Melbourne. Other features include a gym and ground floor warehouse café.
The Dream Factory is to be anchored by Inspire9, a community-led co-working business servicing Melbourne’s start-ups, freelancers and creative entrepreneurs. Other tenants that have made commitments to the building include Engineers Without Borders Australia, multiple teachers’ associations including DATTA Vic and School Libraries Association of Victoria.
IIG has appointed Savills and Lemon Baxter to lease the remaining vacant areas of up to 1,600 sqm.
"We are Australia's startup capital and this new investment through The Dream Factory will further strengthen Victoria's reputation as the place to do business,” Victorian minister for Small Business, Innovation and Trade, Philip Dalidakis said.
By January 2017, more than 550 jobs will be relocated into the building, IIG said.
IIG is seeking expressions of interest from tenants for the remaining space available, ranging from 400 sum to 1,600 sqm.
Details can be found at <a href="https://www.dreamfactory.org.au" target="_blank">www.dreamfactory.org.au </a>
 
</body></html>

Workplace

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Workplace

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.