Compass Offices To Expand HK Coworking Space Centres
HONG KONG – To cater to the robust demand for flexible workspace in the Chinese territory, Compass Offices announced that it plans to enlarge 4 existing coworking space outlets in Admiralty, Causeway Bay, and Sheung Wan, according to a press release published on Business Wire on Monday morning (18 October, SGT).
“These expansions will present the market with close to 55,000 square foot of flexible office space in prime business districts of Hong Kong,” said Compass Offices, which operates coworking spaces across the Asia Pacific (APAC) region.
In particular, Compass Offices will add a 2nd floor in the Lee Garden One and a 3rd floor in the Lee Garden Two. Bothe are office developments in Causeway Bay. The company will also add more than 11,000 sq ft of coworking space in Admiralty Centre Tower 1 in Admiralty, as well as a 5th floor in Infinitus Plaza in Sheung Wan.
Meanwhile, Compass Offices’ CEO Hans Leijten believes that flexibility in rental tenure and workspace is here to stay, and these things are expected to propel demand for the firm’s products and services.
“Tenants want the ability to grow or shrink space in line with their team size, and they want shorter leases to anticipate market changes instead of fixed lease terms of 3 to 5 years. They no longer want to invest time and money in fitting their conventional office space,” he explained
Sizes of available coworking spaces start from individual suites for professionals up to offices that can accommodate at least 100 staff. Apart from ensuring the occupants’ safety, these flexible workspaces are scalable, connected, and eco-friendly.
“Our clients want a business-ready office – all-inclusive, secure, private, and equipped with enterprise-grade infrastructure and common services, a lounge, reception, and office management,” said Leijten. He added that compass will take care of the capital expenditure (CAPEX), so that its customers can focus on their core business.
Furthermore, Compass Offices added that it plans to open more coworking spaces in key cities in the region, as the company furthers its expansions in Asia Pacific.
