Co-working space seen as boon for office landlords and tenants
It allows landlords to hedge against wave of new office completions and businesses to scale up or down without incurring hefty upfront rental costs
Singapore
CO-WORKING spaces, a concept which made its way here six years ago, can be a hedge for office landlords against a wave of new office completions. Rather than engage in an intense price war on rental incentives and subsidies, developers can take a dip in this "blue ocean" to gain a competitive advantage over their peers, Cushman & Wakefield says in a new report.
One way is to carve out undesirable or non-performing space for tenants to benefit from the option of renting the co-working space on a needs basis. Developers may also consider bundling a portion of the vacant space with committed space under a "co-working concept" for quality anchor tenants.
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