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Sharing economy is entering the commercial property market

08 September 2017

Sharing economy is entering the commercial property market

Sharing economy is a trend, which is strongly developing worldwide. It is creating exceptional chances for business development and due to this fact completely new players are arriving on the market. Moreover, real estate resources are shrinking and people are giving up the idea of possessing to the idea of sharing. The dynamic development of this trend means that the global income generated by the sharing economy until 2025 will reach 335 billions of dollars – accounting just for five crucial sectors, such as financial services, consulting, real estate, tourism, and transport.

The representative of the idea of sharing economy, on the property market, is the concept of coworking. Once a niche trend known to few, today it is a movement shaping a totally new group of tenants on the real estate market. Through sharing office resources, micro enterprises, startups, and freelancers are gaining access to top-class work infrastructure. Coworking spaces offer easier business development due to flexible lease agreements and a clear structure of administrative costs (contained in rental costs) giving the tenants a sense of financial stability. Moreover sharing common areas in an office - like kitchen or social space - among like-minded individuals and professionals is establishing a new creative business community that is based on conscious cooperation. Additionally coworking solutions started to be attractive for big enterprises and corporations. They employ more remote, contingent workers in different locations. This in turn makes companies increasingly mobile and at the same time, gives rise to flexible forms of rental without the need for a permanent office.

The coworking market is very promising and has a strong tendency for development both in Poland and worldwide. It’s growth pace will undoubtedly continue, due to shrinking land availability in central parts of cities. At the same time coworking’s rapid growth is dictated by a young generation of professionals - called millennial – who are accustomed to the world of widespread Internet availability and new technologies. The company, which decided to associate the idea of coworking and the needs of millennials online, is ShareSpace – an innovative, online rental platform for flexible and shared office spaces. Thanks to such tools, users of the sharing economy are gaining access to benefits most appreciated by them, such as: independence, flexible work time and proximity of online solutions.

Currently, there are 11.300 coworking spaces operating worldwide, while a further 2.500 are forecasted to open until the end of 2017. There are approximately 200 coworking spaces operating on the Polish market, mainly in big cities such as Warsaw, Cracow, Lodz, Wroclaw, Poznan and Gdansk. Hence it should come as no surprise that MindSpace – a global coworking space operator are set to open their first location in Warsaw. MindSpace is located on approximately 3.000 m2 in a prestigious Warsaw location - the recently revitalised Hala Koszyki. MindSpace Warsaw will be able to accommodate over 450 professionals over 3 floors. The lease agreement was signed with the owner of the building – Griffin Real Estate. Moreover, Adgar Poland - a commercial real estate developer , with a portfolio of approximately 120.000 m2 of office space, has spent ca. 7 million PLN during last years to transform around 3'000 m2 of their Ochota Buisness Park – into a coworking concept - The Brain Embassy . Furthermore, HB Reavis is opening their first Polish branch of the HUBHUB coworking concept in Postepu 14 Warsaw Office. The investment cooperation of Skanska and Bussiness Link (the biggest coworking operator in Poland) will see Skanska’s offer complemented by a state-of-the-art model of commercialisation - coworking.

Besides coworking, the offers of buildings are more frequently supplemented by representatives of the sharing economy, who provide solutions such as car-sharing, bike sharing and also shared access to office, business or concierge services. Modern, coworking space tenants are different from typical, commercial space tenants. They will rent a flexible desk or office for a few days or months and pay on-line through www.sharespace.pl. They will pick their office location in proximity to their apartment rented through Airbnb. They will be looking for creative and interesting interiors, not for the standard appearance of office space. A typical Millennial business representative will immediately ask for fresh coffee and directions to the relaxation zone but he or she will not ask for a parking place, because they will have arrived at their newly rented workplace on a bike hired from the Nextbike, with an Uber or by a rented Traficar. The office of tomorrow begins today.

Robert Chmielewski - ShareSpace Co-Founder


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