Leasing agent Cadigal partners with flexible office broker Rubberdesk
The general open plan area at one of provider JustCo's spaces in Sydney. Photo: Kate Geraghty

Leasing agent Cadigal partners with flexible office broker Rubberdesk

Sydney office leasing agent Cadigal has struck a joint venture with flexible space online broker Rubberdesk to tap into the growing commissions from flexible office leasing.

Cadigal has also invested separately in the Rubberdesk business and the deal would allow both parties to share earnings as well as refer clients to each other taking advantage of the “symbiotic relationship” between flexible working and traditional office tenants.

Cadigal said it had been been fielding a growing number of flexible office leasing requests from tenants who need to be serviced differently to regular office tenants, a job better handled by Rubberdesk.

Equally, businesses which have outgrown flexible spaces can be moved onto Cadigal which would find them long-term office spaces.

This highlighted not just the growing flexible working sector in the major Australian cities but the growth of the brokers who profit from increasing number of leasing inquiries, fast tramsforming from “proptech listing platforms” to full-service flexible space property managers.

Rubberdesk also advertises spaces offered not just by bigger providers but also private office owners who have spare space.

“While we believe we are servicing the direct leasing market well, we recognise the need for greater marketplace technology and reach with the flexible space market,” Cadigal director Mark Tindale said.

“We also recognise that with brokerage and pricing in the flexible space market being entirely different to direct leasing, it requires a different approach.”

Rubberdesk has about 2500 flexible working listings in Australia and has become more than a broker helping landlords manage payments and license agreements.

“We’re only scratching the surface of the total available market amongst
traditional businesses with unused space that can be rented out on flexible
terms,” Rubberdesk co-founder Jim Groves said.

But as the flexible working broker or aggregator industry slowly gains critical mass, it can get “messy” with many groups trying to advertise desks from the same provider often resulting in a commission war, Mr Tindale adds.

Get a weekly roundup of the latest news from Commercial Real Estate, delivered straight to your inbox!

By signing up, you agree to Domain’s Privacy Policy and Conditions of Use. You may opt out at any time.