Great Room Opens Second Sydney Workspace Hits 85 Occupancy First Location
The Great Room by Industrious, a leading provider of flexible workspaces, has recently launched its second Australian location. Situated on the 14th and 15th floors of the One O’Connell Street office tower in the heart of Sydney’s CBD, the new space spans 25,360 square feet. The building is owned and managed by LendLease.
This marks The Great Room’s second venture into the Australian market, less than two years after its first location in Sydney. The first space, located on the 29th floor of 85 Castleragh Street, is a 12,912 square foot office development owned by Blackstone and managed by 151 Property, a leading asset manager in Australia and New Zealand.
According to a press release by The Great Room, the workspace at 85 Castleragh Street is currently 85% occupied. The company also states that it is actively exploring expansion opportunities in other major Australian cities.
“We have received an overwhelming response to our Castlereagh Street location, and have even added an additional floor to meet the high demand,” says Su Anne Mi, COO and co-founder of The Great Room. Mi has also been appointed as the CEO-designate, following the announcement of current CEO Jaelle Ang’s departure from her role in August.
Mi adds, “We are continuously growing our presence in Australia, and in the coming months, we will be making more announcements in key cities. This reflects our plans to expand further into the Australian market and marks an exciting new phase of growth for The Great Room.”
As part of the Master Plan, the development of the MRT network is crucial. This has been further improved with the recent addition of the Canberra MRT station, strategically located between Sembawang and Yishun. This has greatly enhanced the accessibility for residents in the area. Moving forward, there are more enhancements planned for the transportation system, including increased bus services and pedestrian-friendly infrastructure. These improvements will benefit the residents of Sembawang Road EC as it will provide them with greater convenience and flexibility in their daily commute. Additionally, with the presence of Sembawang EC at Canberra MRT, residents will enjoy even more convenience and accessibility within their neighbourhood and beyond.
The new workspace at One O’Connell Street was designed by M Moser Associates. It boasts stunning views of Sydney Harbour and features the company’s signature Drawing Room, along with a boardroom and an event suite. The space offers a range of workspace options, including private suites, hot-desking zones, communal areas, and enterprise suites.
The launch of this new location comes after CBRE fully acquired Industrious, the parent company of The Great Room. Earlier this year, the global real estate services company, which previously held a 40% equity stake in Industrious, announced its acquisition of the remaining 60% equity stake for a reported US$400 million, valuing the company at approximately US$800 million. The Great Room was acquired by Industrious in May 2022.
IN OTHER NEWS:
– The Great Room’s first Australian co-working space opened with an impressive 71% occupancy rate.
– The Great Room launched its first co-working space in Sydney.
– The Great Room opened a heritage shophouse location at Eu Yan Sang Building.