Flexible workspaces are becoming vital for businesses to attract and retain top talent nowadays. "There is a lot of interest in this sector and while the Regus brand has been operating for 30 years, the changing nature of the traditional office means employers now more than ever need to provide more flexible space in the workplace," Mr Sheehan said. "Industry data shows that 75 per cent of millennials now expect to have flexibility and the ability to work with colleagues collaboratively or sit by themselves." It comes as the sector is growing at such a rapid rate that some landlords are now fearing a bubble is forming. Loading One of the highest-profile operators is the US-based WeWork. It has been forced to shelve its proposed public float due to investor backlash and the founder Adam Neumann has stepped aside to become non-executive chairman. But Mr Sheehan said in the last 10 months there has been a real shift in demand for the sector, despite the ups and downs of WeWork at the head office level. "While one brand has had publicity of late, the underlying message is that landlords want to have flexible space in their buildings and corporations need to offer it to attract talent," Mr Sheehan said. City Tattersalls Club is another that has expanded into the popular co-sharing office and hospitality area with the opening of a new concierge and lounge area, albeit for its members. It comes as the club awaits the outcome of the next stage of its development application for building a hotel above the club in Pitt Street, Sydney. Under the plan, the club will offer members and guests the opportunity to use co-sharing space for individual meetings or a boardroom area for larger meetings. The club's chief executive Marcello Veloz said there is demand for this style of office in the CBD and the club saw the opportunity to open it to members. As part of the new deal, the club will also have an on-site concierge service for members, which will be incorporated into the new hotel once the project gets the green light. Carolyn Cummins is Commercial Property Editor for The Sydney Morning Herald.
Regus has leased the top floor of Sydney's Flinders Centre in Bankstown. The IWG business will take 1,350 sqm of workspace with 200 desks. Demand is growing for outer-city co-working locations to enable companies to attract and retain key workers, according to IWG's Australia head, Damien Sheehan. Meanwhile, City Tattersalls Club has opened a members-only concierge and lounge area while it awaits regulatory approval for a hotel above its Pitt Street, Sydney location.