Coworking spaces continue to grow and be in demand in South Africa and now The Business Exchange has opened its sixth coworking space. 
Photo: Supplied
Coworking spaces continue to grow and be in demand in South Africa and now The Business Exchange has opened its sixth coworking space. Photo: Supplied

The Business Exchange opens sixth coworking location in SA

By Dhivana Rajgopaul Time of article published Mar 3, 2020

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DURBAN - Coworking spaces continue to grow and be in demand in South Africa and now The Business Exchange has opened its sixth coworking space. 

Situated at 140 West Street in Sandton, the newest edition to The Business Exchange’s portfolio sits right across the road from the Gautrain Station, the Michelangelo Hotel, Sandton City and Nelson Mandela Square. This makes it the perfect spot for business travellers or companies who need office space in a prime business location. 

The new offices come equipped with upmarket meeting and conference rooms in different sizes, a 145 seater auditorium with VC capability, and a 14th floor terrace with views of Sandton, to name a few highlights. 

The 140 West Street Property joins the other four Johannesburg-based properties and one Mauritius-based office space. Other locations that David Seinker, founder and Chief Executive of The Business Exchange, has his eye on includes two more in Johannesburg, another two in Mauritius, one in Durban and a few prime locations in other parts of Africa.  

The expansion into Africa is a key business focus for The Business Exchange in 2020. 

"The African market needs something different in the co-working space. There are business centres available but there are no networking opportunities for entrepreneurs. As we open in new locations across the continent, we will provide a platform for our members to engage with one another and meet people who are serious about business and their growth. We will provide them with access to networks and as well as new markets," said Seinker. 

He added, "Established startups that are scaling their operations, corporate companies including multinationals, and sole proprietor business owners tired of working from coffee shops and in need of a space to concentrate are struggling to find a property conducive to their needs. This is why we at The Business Exchange are excited to open this new space".  

The 140 West Street Property is ready to welcome entrepreneurs, small business owners and corporate companies wanting a space from which to work.

Mark Dixon, chief executive for Regus’ parent company IWG said when people commute into major cities their wallets commute with them.

"Working locally keeps that spending power closer to home. What this study shows is that providing more opportunities for people to work closer to home can have a tremendous effect, not just on them, but on their local area too," said Dixon. 

The demand for flexible workspace across the world has seen record growth in the past few years, with flexible working spaces set to grow up to 30 percent annually for the next five years, according to global real estate giant Jones Lang Lasalle (JLL).

Linda Trim, Director at FutureSpace, said South Africans continued to adopt the massively popular global trend of co-working spaces. "Around the world we see a marked shift in demand for shared offices that are as well designed and sophisticated in service as five star hotels". 

BUSINESS REPORT ONLINE

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