This article is from the Australian Property Journal archive
AUSTRALIA’S largest collaborative workspace provider, WOTSO, has expanded overseas.
WOTSO Workspace, controlled by BlackWall Limited, will establish itself in a 950sqm co-working space in one of Singapore’s last remaining original buildings, The Quadrant, at 19 Cecil Place.
The space is currently operated by workspace provider Springboard, and will rebranded as WOTSO in a joint venture agreement with existing management.
It will launch in the next month.
”We are expanding our footprint by doing deals in buildings that the larger group doesn’t own, so we’re now working up conventional leases like our recent acquisition in Penrith, as well as management arrangements, and joint ventures like this one in Singapore,” WOTSO and BlackWall CEO Stuart Brown said.
“We wanted our first overseas site to be a joint venture and benefit from ‘on-the-ground’ local management.
“We see the opportunity to have multiple WOTSO sites in and around any major city. The model is demography-driven so works wherever there is population and amenity. We expect our roll out to gain pace both nationally and internationally,” he added.
WOTSO has grown to 10 sites in Australia over the last 24 months, with four in New South Wales, three in Queensland, two in Canberra and one in Adelaide, and now has the option of buying appropriate buildings or doing leasing, management and joint venture deals to further expand.
Its current footprint is 15,000sqm of co-working space in operation and development.
It said it is actively looking for additional sites in Melbourne, Perth, Tasmania and New Zealand, and other sites across south-east Asia.
Australian Property Journal
