Office Hub, the proptech marketplace for listing and finding shared, serviced and co-working office space, has entered South Africa through a partnership with SiSebenza, the local co-working and flexi office player.
“The local economic slump, exacerbated by Covid-19 has left local businesses overcommitted on floor space,” says Andrew Robinson co-founder and executive director of SiSebenza. “Companies are increasingly moving to remote working or distributed working models, meaning that they’re downsizing, moving out of, or breaking up, their existing office spaces.”
Office Hub’s tenant search platform uses machine learning to match and connect companies looking for short term furnished space to flexi providers and private companies who have excess space that they want to rent out. The Office Hub marketplace lists realtime inventory, while producing advanced data analytics on the supply and demand for flexi space and an integrated CRM system, MyOfficeHub.
Office Hub’s AI-based technology is backed by a team of property specialists who support each enquiry to help with shortlisting spaces, organising tours and negotiating the deals for tenant and workspace owner.
“Beyond being the smartest proptech in the world, our faith remains firmly in the magic of human connection and hard-earned know-how. In partnership with SiSebenza, the South African leader in the flexible workspace market, we have created a best-of-breed experience to deliver an unmatched and personal process,” says Office Hub founder and CEO Grant Philipp.
The South Africa Property Owners Association (Sapoa) reported that, in the quarter to end-June 2020, South Africa’s national office vacancy was at a 16-year high of 12,3% and A-grade office rentals 2,8% down year-on-year. So landlords are looking for effective and efficient ways to fill their spaces.
Pre-Covid, global flexible, co-working and shared offices accounted for 5% of the office space market with an estimated value of $26-billion, having shown 15% year-on-year growth over five years. And now as we emerge into a new way of working, flexi and co-working solutions are a vital part of commercial real estate strategies for everyone from start-ups to corporates.
“Peer-to-peer sharing of commercial office space is once again gaining traction as the flexibility, cost and culture benefits come in at a more affordable price,” says Robinson. “With greater choice, softening rates and vastly improved quality across the board, it’s an exciting time to take the plunge and tap into the benefits of flexible workspaces.”
Global partners and serviced office providers such as WeWork, IWG and Servcorp can market their locations, centres and suites in real-time with live availability and pricing. Private landlords can list whatever space they have available to rent; from a desk to a private office or even a sublet.
“It’s no surprise that both established businesses and start-ups are moving away from the traditional commercial industry standard of long and rigid leases,” says Philipp. “Not only because of the benefits with flexible workspace vs conventional office leasing but also the efficiency, transparency and cost-effectiveness of our technology that helps tenants find flexible space.”