The number TWO reason why people love being in a shared or coworking space, is to enjoy a total cost of occupancy (TCO) around 50% less than traditional office leasing!
Whether you rent a dedicated desk or private serviced office in Hastings HIVE, your workspace comes with full use of over 512 sqm of shared facilities for you and your staff to enjoy. This is a major benefit of co-working spaces, that provide unbeatable sqm occupancy costs, when compared with leasing your own office.
And that works out around $75 per sqm for an eight person private serviced office, which includes all outgoings (like rates, maintenance and landlord insurance) and most of the OPEX items like IT and networking services, power, cleaning, rubbish, office and kitchen supplies and so much more.
Now consider your office lease rent accounts for only around 1/3rd of your total cost of occupancy and you can start to see there are some hidden costs in leasing your own office. Costs that you may not understand upfront, but be locked into for at least three years, sometimes much more. Read how this can really hurt your business in the further reading below.
So before you make up your mind between leasing your own office, or renting in a shared space, have a look at our analysis of the total cost of occupancy: TCO comparison