Navigating the dynamic realm of coworking has unearthed a revelation that challenges conventional industry categorisations. As the CEO of CreativeCubes.Co, I find myself identifying what we do as a dynamic force propelling collaborative innovation, amenity and asset activation.
The industry would look at us as a real estate business but we’re not and some may look at us as rent arbitrage but we’re not that either. Allow me to explain;
This shift transcends traditional norms and identifies a pivotal moment in reshaping the market’s understanding of coworking spaces and their integral role. We (CreativeCubes.Co) are both a partner to landlords / asset owners and equally an enabler to businesses, users and members of these dynamic spaces in a professional landscape for a whole set of other reasons.
Reflecting on my experiences and the broader industry, it’s becoming increasingly clear that coworking, with its commitment to fostering a unique and collaborative work environment, aligns more closely with the ethos of hospitality (hotelier-esk) than with the transactional nature of real estate. This shift is not just a conceptual notion; it’s a transformative approach that challenges preconceived notions about the coworking sector and is actually more of the conversations I’m involved in today.
Since launch I’ve really seen CreativeCubes.Co as a two sided marketplace. On the one side we’re activating the assets we operate in with products, services and experiences wrapped in technology that the other side (demand side / members / companies) are seeking. The outcome is we’re driving commercial real estate valuations higher whilst also enabling companies to bring their teams together in a dynamic, vibrant and highly engaging place to do their best work!
In more recent conversations off the back of the dramatic change in office use (needs and wants) – Landlords and asset owners are increasingly turning to us looking to activate and manage their assets. With the rise in vacancies and shift in the need of the traditional office the role of us flexible space operators is helping create differentiation in the asset and keep commercial office space relevant while the world around it changes.
While we’re doing that we’re equally serving the demand that is inbound and growing significantly (with no signs of slowing down over the next decade at least). Asset owners are starting to recognise coworking is about more than just providing a physical space; it’s about creating a dynamic environment that fosters collaboration and innovation and them trying to do it themselves is proving to be a challenge they’re not geared up to handle.
On the surface it looks simple but beneath is a complex operation that seamlessly serves people looking for a meeting room for the hour, to someone looking to run an off-site for three days to larger companies looking to create an office environment and experience to attract and retain top talent within their organisations.
Unlike the traditional real estate model, coworking’s strength lies in its ability to adapt and innovate. CreativeCubes.Co and many other operators engage in innovative management agreements and collaborative lease arrangements to support landlords to adjust their assets to the future of work. This flexibility not only underscores the industry’s adaptability but also emphasises a shared commitment to creating spaces that inspire creativity and collaboration.
This shift is not only timely but also imperative, considering the challenges facing the real estate industry. The surge in remote and hybrid work models has shifted the demand for office spaces, challenging the traditional real estate market. I invite landlords and asset owners to embrace this transformative moment that’ll set them up in the long-term.
At CreativeCubes.Co we are not real estate entities, we’re certainly not rent arbitrage operators ; we are the architects of an ecosystem that fosters creativity, collaboration, innovation powering communities. Embracing this identity positions us at the forefront of a movement that holds the key to shaping the future of work and for the landlords and asset owners – we’re here to help and play our role in activating your asset, precincts and spaces, keeping them relevant to where the demand is surging towards.
