Co-working hub The Commons replaces Grocon at Melbourne's QV
Co-working space provider The Commons has expanded into the Melbourne CBD after striking a 1666-square-metre leasing deal within the QV complex on the corner of Swanston and Lonsdale Streets.
In a sign of the times, The Commons will take over office space in the Dexus-owned 3 Albert Coates Lane building that was previously the headquarters of Grocon – the original developer of QV in the early to mid-2000s.
Grocon, which has endured a tough few years, is now based out of a small commercial building at 577 Little Bourke Street near Southern Cross Station.
The new co-working hub will open in July and complement existing The Commons venues in South Melbourne and Collingwood. A fourth hub is due to open in Cremorne towards the end of the year.
Founded by Cliff Yo and Thomas Ye three years ago, The Commons is one of a number of homegrown co-working providers (others include Hub Australia, Clik Collective, WOTSO and CreativeCubes.co) that have established themselves in the major cities alongside global giant WeWork.
A 2017 report by Knight Frank found the co-working industry occupied 193,192 square metres of space in the six capital cities, a 300 per cent increase since 2013.
“As our first CBD location and third in Melbourne, we really wanted to make sure that it was the perfect spot. When the opportunity came up to move into QV we knew it was ideal for our members and, as such, we had to take the design to the next level,” Mr Ho said.
The QV hub will provide accommodation for 350 members and will include an indoor golf simulator, record lounge and a sensory room.
The Commons recently opened its first Sydney venue at Sydney Central taking its portfolio of co-working venues to 11,000 square metres and has partnered with Melbourne developer Riverlee with plans to expand overseas.
Members include Change.org, PayPal and Eventbrite.
The co-working group aims to add another 15 offices and take it portfolio to 40,000 square metres in the next three years.
Get a weekly roundup of the latest news from Commercial Real Estate, delivered straight to your inbox!
