Report | Adaptive Spaces
Australian Flex Space Report
Flex Space in the Age of Hybrid Work
September 13, 2023 5 Minute Read
- After a period of consolidation, flex operators have started to grow in the Australian market again, accounting for 2.7% of stock.
- The market is now dominated by larger domestic and offshore operators, with the average size of facility rising in the last 12 months.
- About 70% of Australian occupiers have minimal exposure to flex space in their portfolios, although they intend to increase exposure over next 3 years.
- Occupiers want locations close to public transport with good amenities such as onsite food and beverage options and sustainable building features.
- Landlords are increasingly seeing flex space as a “must have” in their portfolio, as tenants are requiring more flexibility.