The concept of shared office space is rapidly evolving, attracting larger tenants who recognise the cost savings, flexibility, and networking opportunities these spaces provide.
Brynn Burrows, Director of Office Leasing at Colliers Christchurch, says larger companies are increasingly drawn to the collaborative environment and design of modern shared workspaces.
Qb Studios’ new development at 235 High Street in Christchurch’s CBD exemplifies this shift.
The loft-style office space can accommodate an anchor tenant with 30–50 staff, and the new building, set for completion next February, will integrate with an adjoining heritage building that was strengthened and refurbished in 2023 during Stage 1 of the project.
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Together, the combined spaces will offer multiple meeting rooms, a bar, private lounge areas for hosting clients, and an expanded area for the popular Akin cafe.
“There are significant upfront capex savings because of rising fit-out costs. Even a generic fit-out costs around $1,200 per square metre. These shared spaces can provide significant savings compared to traditional office leases and are particularly suited for tenants with up to 30 staff,” Burrows says.
“Since the pandemic, many companies have emphasised designing fit-outs that promote collaboration, and Qb’s shared spaces offer both adaptability and cost-efficiency. Tenants can grow their teams as needed without being tied down to long-term conventional leases.”
High Street is also undergoing a revitalisation, with Canterbury developer Philip Carter’s new two-level retail and office development across the street, as well as other projects in the pipeline, transforming it into a thriving commercial hub.
Qb Studios is celebrating its 10th anniversary this year. Schoolmates Tom Harding and Mike Fisher founded the company while living in Rio de Janeiro, where they met Irishman Alex Brennan through the Rio rugby team.
Pre-earthquake, Harding and Fisher had been planning a modular development project in Christchurch, and in Rio, they teamed up with Brennan to form Qb Modular, aiming to develop a modular construction system for Brazil.
But they decided New Zealand would be a better place to build their concept. In 2014, they returned to Christchurch and converted an old warehouse in Addington into the first Qb Studios, a modular village featuring offices, a cafe, and an art gallery.
Today, Qb Studios has six locations – in Christchurch’s High and St Asaph Streets, and Auckland’s Parnell, Ponsonby, Herne Bay, and Newmarket.
Their model attracts a diverse range of businesses, from global tech giants such as Microsoft and Afterpay to large legal firms, human resource agencies, international architects, designers, independent consultants, and start-ups.
Harding says Qb Studios' curated workspaces provide businesses with flexibility, allowing them to focus on growth by offering fully furnished, fully equipped offices that eliminate the need for costly fit-outs.
"Many businesses come to us as they find it a good way to attract staff back into the office. The monthly all-inclusive bill also consolidates utilities and office consumables, enabling tenants to save on operational costs and administrative overheads.”
- Supplied by Colliers
