AnalysisInternational News

FutureSpace launches second office, adds SA’s 1st International Arbitration Centre

New office opens opposite Sandton City, close to Gautrain

*New office also includes International Arbitration Centre in conflict resolution boost for SA

*SA’s first 5 star office on demand co working space full in just over a year

FutureSpace, the joint venture between Investec Property and workplace specialists Giant Leap that offers high end shared working offices on demand, has launched its second workspace, that includes SA’s first International Arbitration Centre, after the first space reached near capacity in just over a year.

The new space is located at 96 Rivonia Road in Sandton, opposite Sandton City, close to the Gautrain and a few blocks down from the first FutureSpace office at 61 Katherine Street. It offers individual offices as well as booths and open areas designed to meet every working need for those who don’t want the hassle and cost of signing and committing to a long term lease.

“Since we launched FutureSpace just over a year ago, we have been inundated with demand from executives and consultants who want their own offices as well as start ups, entrepreneurs and even global companies coming to South Africa that need to start operating quickly. We expanded the existing space but that too has filled up.

“It’s a sure sign that South Africa continues to adopt the global trends of smart cities and on demand services. We plan to open further offices in Johannesburg later this year and next – and possibly also in other business centres around the country.”

Interestingly, the new FutureSpace office also houses the country’s first International Arbitration Centre in a fillip for conflict resolution in South Africa and Africa.

In December 2017, South Africa adopted The International Arbitration Act for the first time. The Act incorporates into law in South Africa the United Nations Commission on International Trade Law Model Law. This means SA can now host arbitration hearings when previously companies had to head to Europe. The new centre has been designed only for arbitration and it mirrors best in class arbitration deign facilities overseas.

Said Trim:”By providing a neutral, independent, specially designed facilities for the global business community, the FutureSpace International Arbitration Centre will help solve some of South Africa’s most difficult litigation locally meaning it will be cheaper and quicker.”

Trim noted that the success of FutureSpace was in line with global trends away from ownership and towards instant access.

Instead of owning everything people, want to access to whatever they need and they want to now. Instead of having an expensive car, many people call an Uber when they want to travel. Instead on having a holiday home, people rent an Airbnb in seconds.

“Office space is no different,” said Trim. “In major cities like London, New York and Sydney, people book office space for only when they need it. It is a rapidly growing, extremely cost effective trend that is now gathering pace in South Africa.

”It can take months to find suitable offices space and just as long again to install IT services, furniture and interior design. With FutureSpace you simply book and pay for your office online – or simply walk in – and you can start working straight away. The front desk will be waiting for you,” Trim said.

Trim noted that one of the things that sets the new breed of shared work spaces apart is that their design is a extremely high spec, “Our design inspiration is a mixture between a five star hotel and the best airport lounges.”

FutureSpace offers fully fledged offices with everything a business requires from high speed fibre wifi, concierge, support staff to meeting rooms and video conferencing. There is also a gym in the building and 24 hour electronic security. Barista coffee and food is also available. Instant bookings can be made online through an online portal. Clients can book and pay for all extra services they need.

The FutureSpace offices are designed to meet different office needs with monthly pricing ranging from R3 500 to R20 000. Shorter term rates and day rates are also available.