From left to right: Darren Rogers, Lian Chin Chiang and Andrew Tangye (Picture: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) - The demand for flexible and hybrid work spaces continues to grow among leading office-occupiers in Singapore, and competition among co-working and hybrid work operators in Singapore has picked up in recent months, with several new co-working locations in the CBD opened in the first quarter of this year, according to IWG.
The newest hybrid workspace is located at 61 Robinson Road, a 20-storey Grade-A office building owned by Singapore-based private equity group Rivulets Investments. The investment firm has brought in global workspace provider International Workplace Group (IWG) to manage the new 20,000 sq ft centre.
The new centre at 61 Robinson Road will be operated under IWG’s Regus brand — one of several workspace brands owned and operated by the company. In Singapore, other IWG branded spaces include Regus, Signature, Spaces, and No18.
“This new opening aims to meet the growing demand for flex spaces [in Singapore],” says Darren Rogers, country manager for IWG in Singapore.
IWG’s latest expansion in Singapore comes as more businesses in Singapore embrace flexible work solutions in accessible and prime locations amid an uptick in the rate of employees returning to workplaces, it says.
“We are thrilled to open another Regus centre in Singapore and provide more hybrid work solutions, as [flexible workspaces] continue to be the preferred choice among businesses and employees,” says Rogers.
“As our occupiers review their office strategies, this partnership with IWG further enhances our value proposition [of 61 Robinson Road] to bring more quality and flexible options for occupiers in the CBD,” says Lian Chin Chiang, CEO and co-founder of Rivulets Investments.
Regus at 61 Robinson marks the 13th Regus location in Singapore’s CBD. In total, IWG has 24 centres across its four brands in the city-state. Regus at 61 Robinson spans a total of 20,000 sq ft across two floors in the 20-storey building and features about 240 workstations, three meeting rooms and 76 private offices.
According to Rogers, IWG launched the centre at 61 Robinson Road under its Regus brand because the type of office product under this brand is well-suited for the types of tenants the company is targeting, as well as their space and leasing requirements.
The reception area at Regus 61 Robinson Road. (Picture: Samuel Isaac Chua/The Edge Singapore)
Regus at 61 Robinson offers private offices that can accommodate one to eight people. Private offices can range around 60 sq ft (suitable for one person) to around 250 sq ft (suitable for about four people). The centre also offers designated meeting rooms — ranging from around 100 sq ft to around 250 sq ft — that can accommodate two to 12 people.
Each office unit is fully furnished with desks, chairs and storage units, with the option to customise the furniture. Each office unit also comes with high-speed Internet access as well as regular cleaning and maintenance services. Users of the office spaces will also have access to shared facilities such as meeting rooms, kitchen areas and lounge areas. Furthermore, they have the option to work at any of IWG’s spaces upon getting a membership with the co-working space.
Regus offers three types of membership: Private Offices, Office Membership and Day Office. Private Offices offers fully-furnished offices for individuals, teams or entire companies. Office Membership offers private offices by the day. Alternatively, members can choose five, 10 or unlimited days per month to use the office space. Day Office offers the flexibility of a shared office by the hour or day.
The co-working space has a business lounge located on the 11th floor, with a mix of open-seating and private meeting rooms with complimentary refreshments. It also offers a drop-in lounge on the ground floor which provides a casual and flexible workspace for visitors and tenants. Breakout areas and flex seating are available throughout the premises with the purpose of promoting productivity.
There are two cafes on the first floor: a Singapore-style cafe and a craft-beer cafe. Level 5 of the building has a wellness centre boasting a traditional gym, says Lian. The expected profile of tenants includes SMEs, freelancers, entrepreneurs, MNCs and professionals, according to IWG.
IWG hopes that its office spaces under its various brands will foster an environment of collaboration among tenants with its collaborative spaces by striking a balance between providing an office and a home for its users. This represents the evolution of the Regus brand and how office spaces are being used, says Rogers.
A co-working office unit at Regus 61 Robinson Road. (Picture: Samuel Isaac Chua/The Edge Singapore)
“We've taken elements of all of our different brands and brought them together to provide a flexible working environment that meets the needs of the hybrid users today,” he says. The ability to support companies in scaling up or down is crucial in IWG’s offerings, he adds.
The launch of Regus at 61 Robinson Road is about a year after IWG’s opening of a Regus centre at Hiap Hoe Building at Zhongshan Park in Balestier in March 2022. The 10,328 sq ft space spans two floors and comprises 154 workstations and 49 private office suites.
IWG centres in Singapore have recorded nearly a 65% year-on-year increase in visits in 4Q2022, compared to 4Q2021.
However, the office market in Singapore is expected to face some headwinds in the coming months that could dampen the overall leasing and rental expectations this year. This comes on the back of a tight office supply that is not expected to be resolved over the coming quarters.
Andrew Tangye, head of office leasing advisory at JLL Singapore, says that the demand for office space has “slowed down a little bit” as a result of the tighter office availability and lack of new supply.
“With all the global economic uncertainty, I think a lot of companies based here, or are looking to establish themselves here, are a bit more cautious at the moment. Certainly, 2023 is probably going to be characterised by a lot more cautionary behaviour, in terms of holding back on expanding, spending, and relocations compared to 2021 or 2022,” says Tangye.
Going forward, IWG hopes to expand its operations further to meet growing demand, despite the market uncertainty, says Rogers.
“Asia Pacific is a key region for IWG’s growth. As we work towards adding more than 1,000 new locations across our global network this year, we are excited to bring more flexible workspace solutions to Singapore,” adds Rogers.