The economic energy of southeast Queensland is propelling outstanding performance from WOTSO’s six sites in the growing region, headlined by a stellar debut year for WOTSO Robina on the Gold Coast.
WOTSO Robina opened last December and has already reached 80% occupancy, the fastest of any other comparable site in the WOTSO network. It is also the highest yielding site in the state due to strong customer demand.
“Normally a new site takes 18 to 24 months to reach these occupancy levels,” says WOTSO CEO Jessie Glew.
She attributes Robina’s rapid maturation to population growth, great timing and a shortage of offices for small businesses in the area.
Its prime location in the bustling Robina Town Centre shopping and services hub, with excellent public transport links, a rarity on the Gold Coast, is also a major factor.
“One of the reasons our sites are performing so well is because of the lack of appropriate space for small business in the areas we target,” says Glew.
“In Robina, for example, there is a shortage of offices of between 10 to 50 sqm, which is what we are able to provide.
“This is a common scenario in the suburbs and the regions in which we operate. You get the occasional shop top office, but that’s it, so we’ve been capitalising on that shortage.”
Many of WOTSO Robina’s members work in service industries such as accountancy, financial services and law.
“It’s a perfect location for them because clients can drop in while they’re doing the shopping.”
Robina is close to WOTSO’s original Gold Coast site at Varsity Lakes and complements its other regional flexible office spaces in Fortitude Valley and Chermside (Brisbane), Sippy Downs (Sunshine Coast) and Toowoomba (Darling Downs).
These sites boast WOTSO’s highest average network occupancy of 83%.
Toowoomba leads the way with 96% of desks occupied, the best of any WOTSO FlexSpace in Australia or New Zealand.
Combined, the southeast Queensland sites, where WOTSO has negotiated leasing deals based on percentage of turnover, also achieve the best combined per square metre rental returns across the WOTSO network of 29 locations.
Glew says Queensland is a great place to do business and expects population growth to drive demand in the leadup to the 2032 Brisbane Olympics.
