Flexible workspace provider The Great Room by Industrious has officially opened its second Australian location. Located on the 14th and 15th floors of the One O’Connell Street office tower in the Sydney CBD, the new space measures 25,360 sq ft. The building is owned and managed by LendLease.
The second location comes less than two years after The Great Room first ventured into the Australian market. The first location, also in Sydney, encompasses 12,912 sq ft on the 29th floor of 85 Castleragh Street, an office development owned by Blackstone and managed by Australia and New Zealand-based asset manager 151 Property.
In a press release, The Great Room says its workspace at 85 Castleragh Street is 85% occupied. The group adds it is “actively exploring multi-city expansion opportunities in key Australian markets”.
“We’ve seen a phenomenal response to our Castlereagh Street location, recently adding an additional floor to meet demand, and are excited to further build our Sydney footprint with our One O’Connell location,” says Su Anne Mi, COO and co-founder of The Great Room. Mi has also been appointed CEO-designate of the firm, following current CEO Jaelle Ang’s announcement last month that she would be stepping down from her role in August.
She adds: “We are definitely scaling our presence here, and in the months to come, we will have more announcements in key Australian cities. We’re entering a new phase of growth that positions Australia as a key market for The Great Room’s continued expansion.”
The new workspace at One O’Connell Street was designed by M Moser Associates. Featuring views of Sydney Harbour, it includes the firm’s signature Drawing Room, along with a boardroom and an event suite. The space offers various workspace solutions, including private suites, hot-desking zones, communal areas, and enterprise suites.
The opening of the new location is the first since CBRE fully acquired Industrious, The Great Room’s parent company. At the start of the year, the global real estate services company, which already held a 40% equity stake in Industrious, announced it was acquiring the remaining 60% equity stake in the company for US$400 million, reflecting an implied enterprise valuation of approximately US$800 million. Industrious acquired The Great Room in May 2022.
