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From coworking to wellness, we unpacked the trends driving the world of work. What are the risks and opportunities for commercial landlords?

As the coworking juggernaut takes off, it’s not just start-ups and freelancers rethinking the world of work, said Brad Krauskopf.

According to the chief executive officer of Hub Australia, the nation’s second largest coworking company after WeWork, the era of the 20-year lease are over.

“Corporates have come to coworking because it’s impossible to know where you are going to be in five years, let alone 20,” he says.

Krauskopf challenged commercial landlords to think seriously about how they’d adapt to this brave new world. WeWork isn’t thinking about its coworking competitors, he said.

“WeWork is thinking about ‘how we disrupt property’. They see the coworking market as a very small market. They are after commercial property, not coworking.”

According to Nicola Walt, strategic designer at Arup, building owners are adapting by improving the user experience in three ways:

  • Creative: Removing friction points from mundane activities so people can focus on creative and high-value work
  • Community: Building a buzzing environment close to customers, talent and ideas
  • Cost-effective: Investing in services that reduce the cost of building operation and management and making the building more responsive to users’ needs.

Meanwhile, Jack Noonan told the room that they were “agents of public health”.

“The number one determinant of your health is your physical and social environment,” the International WELL Building Institute’s senior director Australia and New Zealand said.

The average Australian’s life expectancy is 82 years – more than 70 of those will be spent indoors. The buildings that we design, operate and manage have a profound impact on occupants.”

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