There’s a world of choice out there for businesses or individuals who are in the market for space.
And that can often be the challenging part: big, small, vacant, furnished, shared, private, formal, relaxed — which space is the right one for you?
We’ve drilled down to the nitty gritty on each type of space available, to help you decide which space best suits your needs.
On-trend and without the long-term financial commitment required to secure standard spaces, pop-ups have become a retail and event industry mainstay in recent years. Pop-ups are usually vacant or underutilized retail spaces that are activated for short periods of time — sometimes only days or weeks — to provide an additional space for a larger retailer, to create buzz around a new brand or product, or for an owner who has surplus space or wants to generate some passive income. Pop-up spaces generally require minimal setup and are fitted out quickly as required.
Local markets are as popular in Australia today as they were a century ago, and the stalls within them are usually leased by the market’s owner to individual stallholders or operators.
Market stall leases can be offered on a permanent or casual basis, with shorter-term leases offering traders the chance to sell their wares without the higher overheads of other retail leases.
A shop share arrangement offers smaller or fledgling designers and retailers a more cost-effective option to display and sell their products. Shop shares will house a number of similar operators under the one roof, each with their own space to display their wares. It’s perfect for creatives or designers who are reluctant or unable to take on the financial burden of a lease themselves, or who don’t yet have the inventory to fill an entire retail space.
Traditionally used by artists, photographers and other creative operators as spaces in which to both produce and display their work, studios are often utilised on short-term arrangements. They can also be used as other creative-type event spaces, including pop-up galleries and small theatres.
Whether leasing one or leasing many, offices have been a workplace staple for businesses and individuals for as long as anyone can remember. A more formal option in comparison to other space types, an office can be as simple as one room with minimal or shared amenities, to a multi-room layout with private kitchens and bathrooms.
The domain of the freelancer or roaming creative, hot desks provide users with a single workstation within a shared office environment. Desk allocations are usually fluid and relaxed, meaning you’ll simply find an available desk, plug in and begin working, and users pay rates according to their requirements: daily, weekly, monthly or yearly.
The new kid on the block when it comes to leasable spaces, co-working is an innovative concept that involves numerous businesses paying to rent space alongside each other within the same office. Recognised as a more relaxed working environment than a traditional office, co-working spaces allow each business to have its own desks and areas, with other amenities and facilities like kitchens, bathrooms, meeting rooms and breakout spaces shared with the other tenants. Many start-up businesses use co-working as a way to situate themselves in a professional yet relaxed working environment while keeping costs down, and are able to thrive and grow due to the inherently collaborative nature of having complementary businesses working alongside them.
Serviced offices are a way for businesses to lease individual or multiple offices without being responsible for the general maintenance and cleaning of those spaces. The offices are operated by a facilities management company, which rents out the offices and is responsible for their upkeep. Serviced offices generally attract shorter-term lease agreements, offering more flexibility.
Need to host a one-off event or series of events but don’t have a venue? An event space is your best bet. Usually vacant rooms or buildings of varying sizes, event spaces offer a blank canvas that can be fitted out according to a tenant’s specifications, based on the type and size of event to be held.
Not every office or business has meeting facilities, or facilities large enough to accommodate more than a handful of people. Meeting spaces fill that void, with rooms available for hire, generally on an hourly or daily basis. Often situated within existing office buildings or hotels, meeting rooms are used for everything from small business meetings to conferences and trade shows, and can include auxiliary services like catering and audio-visual equipment.
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