Knotel Announces Plans To Expand Into Australia, Citing Growing Demand
November 10, 2020, Sydney, Australia - Knotel (https://www.knotel.com), the world’s leading flexible workspace provider, today announced its plan to expand into the Australian market. The move comes in response to a global office market transformation and growing demand for more service-based solutions around workplace strategy, portfolio optimization and return to work planning.
The company will start its operations in Sydney and Melbourne with the effort being led by Knotel’s General Manager of Expansion Markets, Thomas Engelbertz. In addition to supporting its existing customers with new space requirements, the company will leverage its flexible workspace platform to offer service-based consultation on everything from construction management and interior design to furniture sourcing and workspace management.
“Nearly a third of our enterprise customer roster have a footprint in the Australian market, and nearly all of them are seeking guidance on how to responsibly empower their employees with safe, productive and inspiring workspaces,” said Engelbertz. “Office and workspace flexibility will now encompass much more than just space needs and lease duration. It will incorporate a holistic understanding of how a company works and optimize for the employee experience.”
The flexible office market makes up approximately 6% of total office stock in Australia, but is expected to double in some cities. Melbourne recently surpassed Sydney as the country’s largest office market for the first time, with new building completions pushing its total to more than 4.6M square meters of commercial space, according to analysis by JLL. Melbourne and Sydney’s office markets are now comparable in size to other international markets including Madrid (6.5M square meters), Barcelona (4.9M square meters) and Berlin (4.5M square meters).
The move comes amidst a massive transformation in the global office market as millions continue working from home and global enterprises begin a fundamental retooling of their real estate and office footprints. Knotel’s tailor-made flexible workspaces simplify the experience of managing commercial real estate, as well as help companies reduce capital expenditures, enhance employee productivity and maintain operational flexibility. The news comes on the heels of the company’s announcement of its expansion into the Tokyo market last month.
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