Co-working office space gains momentum in Adelaide: Savills

An office in Adelaide’s CBD is being transformed into co-working space after sitting vacant for four years, highlighting the changing needs of South Australian businesses.

Savills Australia’s Natasha Bertram and Adam Hartley have been appointed to lease 800sq m of shared office space at 12 Pirie Street after suggesting a co-working fit-out to the landlord.

“Several offices in Adelaide have been sitting vacant for several years, which is a frustrating situation for landlords,” Mr Hartley said.

“It was time to offer local businesses a fresh, up-to-date option, on par with some of the redevelopment going on in Melbourne and Sydney.

“We saw huge potential in creating co-working space at 12 Pirie Street, which has a large enough floorplate to be split into a number of small office suites to suit a variety of tenants’ needs.”

The office is being redeveloped by LDSa Pty Ltd to include individual or grouped workstations and offices, a shared boardroom and meeting rooms, hot desks and shared kitchen facilities, and is due for completion in May.

“Whether it’s a single work station or a small office suite with up to 14 workstations, the spaces come furnished with desks, storage units and task chairs,” Mrs Bertram said.

“Each tenant will have full access to the expandable board room, multiple meeting rooms and quiet rooms.”

Mrs Bertram said the co-working space would appeal to start-up businesses, entrepreneurs and companies seeking the flexibility that came with a shared working environment.

“12 Pirie Street presents a simple, fast, affordable, professional and collaborative option for businesses looking to relocate but don’t require entire floors,” she said.

“We’re looking forward to seeing which businesses take advantage of the opportunity to grow their business organically on such flexible lease terms. 

“This space will create a hub of activity, and may inspire other landlords to follow suit.”

Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. Adam Hartley is Director of Office Leasing and Natasha Bertram is Executive of Retail Leasing. To learn more about Savills, visit savills.com.au.