IWG has been in partnership with Redefine for five years, and their new
Regus co-working space at Centurion Mall is conveniently located in the thriving Centurion district, at the corner of Old Johannesburg Road and Lenchen Avenue South.
Surrounded by numerous primary and secondary schools, the centre is a family-favourite destination. JLL, the property researcher, says co-working space in retail properties is predicted to grow at an annualised rate of 25% over the next few years. Flexible office space in retail locations will reach 3.4 million square feet by 2023, and nearly 55% of retail co-working spaces are located in suburban areas. According to IWG, being based at the heart of an extra-curricular hub encourages members to bond with each other. By using and exploring these facilities together, tenants strengthen their relationships. Centurion Mall offers the community and commuters a highly accessible shopping hotspot.
Spoilt for choice, shoppers have more than 90 stores serving their needs, including anchor stores like Pick n Pay Hyper, Checkers, Mr Price and Builders Warehouse. The anchor stores are complemented by a wide variety of speciality stores, services, banks and food offerings, serviced by the Gautrain bus route, which drops commuters directly in front of its main entrance. "Flexible working has changed consumer behaviour, and in line with the evolving needs of consumers, co-working space in shopping centres provides further convenience to consumers. We are exploring other opportunities with IWG for similar co-working space in our shopping centres,” says Redefine’s National Asset Manager, Nashil Chotoki.
IWG brands Regus and Spaces has made a name for themselves as a pioneer within mixed-use developments and shopping centres and will continue to explore the trend actively. Joanne Bushell, MD, IWG, South Africa, says IWG has a history of pioneering the hybrid model, and businesses recognise the benefits of hybrid working on their productivity and bottom line.
“In 2022 and beyond, many modern professionals will no longer be obligated to attend a central office daily, thanks to the mainstream adoption of hybrid working, which means they can base themselves from home, a co-working space – visiting an urban HQ from time to time,” Bushell says. “A new trend in the flexible workspace realm is the conversion of retail spaces to chic co-working offices. The opportunities that these sites present for developers have been deemed as "significant", adds Bushell. “It means all local amenities such as shops, schools, restaurants and workspaces can be reached easily, reducing travel times, which reduces carbon emissions, and work/life balance will improve, making people more productive and healthier,” says Bushell.
Part of IWG's brand DNA is finding settings in desirable areas of a city that offer the right conditions for fostering a sense of community and blending seamlessly with tenants' lifestyles. Additionally, by integrating co-working space with entertainment and retail, members can run their business, get their shopping done and find food options within walking distance. “Our goal is to create an environment that promotes collaboration and creativity. We've found that giving our members direct access to adjacent amenities like retail, entertainment and food locations creates a strong community 'feel' as members move around the complex together,” concludes Bushell.