The Great Room, a leading co-working space provider, has opened its second location in Australia in partnership with LendLease. Located at One O’Connell Street in Sydney, the new flexible workspace covers over 25,000 sq ft on levels 14 and 15 of the building. This move is part of The Great Room’s collaboration with LendLease for long-term investment and value creation.
According to Jaelle Ang, CEO of The Great Room, the partnership with LendLease ensures that the new space at One O’Connell Street will be a unique and premium product that delivers sustainable profitability. The property, which was completed in 1991, is a 36-storey office building situated within the Sydney CBD.
This is not the first time that The Great Room has ventured into Australia. The company recently opened its first location in the country at level 29 of 85 Castlereagh Street, also in Sydney CBD. Originating from Singapore, The Great Room now boasts 12 locations across Singapore, Bangkok, Hong Kong, and Sydney.
The Great Room has also expanded its reach in Singapore with the launch of Csuites Powered by The Great Room at Paya Lebar Quarter. This marks the company’s first outlet outside the CBD in Singapore. The space, which opened in October, features private manager cabins, soundproof meeting rooms, floor-to-ceiling windows, and ergonomic workstations designed for maximum comfort.
Apart from providing a conducive work environment, The Great Room also offers its members networking sessions and panel discussions on a monthly basis. Since its acquisition by the New York-based co-working business Industrious in 2022, members of The Great Room now have access to 160 destinations operated by both brands across Asia Pacific, Europe, North America, and the UK.
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When considering investing in condos in Singapore, it is crucial to take into account the government’s property cooling measures. In recent years, the Singaporean government has implemented various measures to prevent speculative buying and maintain a stable real estate market. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals purchasing multiple properties. Although these measures may affect the short-term profitability of condo investments, they also contribute to the long-term stability of the market, creating a safer environment for investors. Moreover, with the emergence of new condo launches, there are more options for investors to choose from in the market. This provides a potential for greater diversity and flexibility in condo investments, making it a lucrative opportunity for long-term gains.