Hub Adelaide opens new co-working space on Pirie St

Hub Adelaide has opened its new co-working space on Pirie St, tripling the size of its CBD footprint.

Inside the new Hub Adelaide cafe in Pirie House - 89 Pirie St, Adelaide. Picture: Supplied by Hub Adelaide

Hub Adelaide has opened the doors to its new expanded co-working space in the CBD, tripling its footprint in the city.

The new 2000sq m flexible workspace inside the historic Pirie House building on Pirie St features open-plan desks, offices, suites and meeting rooms, as well as state-of-the-art amenities including a cafe, kitchen, podcast studio, parents’ space and “hotel-style” end of trip facilities.

It will accommodate 350 Hub Adelaide members.

Hub Australia chief executive Brad Krauskopf said the co-working operator decided to relocate from 760sq m on Peel St due to growing demand for hybrid work and flexible workspaces during Covid-19.

Inside the new Hub Adelaide on Pirie St. Picture: Supplied by Hub Adelaide

“We’ve seen inquiries spike for Hub Adelaide from small businesses through to larger national corporates, which is why we’ve chosen to expand now,” he said.

“Businesses are seeing the value in premium flexible workspace that caters to new demands of office workers and suits a hybrid work week.

“Pirie House is shaping up to be a destination for the ­future after a multimillion-dollar refurbishment by Pelligra Group.

“It’s this type of premium development, with our own ­future-forward workspace, that will help reinvigorate the CBD and support a new wave of commercial opportunities.”

Inside the new Hub Adelaide premises on Pirie St. Picture: Supplied by Hub Adelaide

Hub Adelaide launched on Peel St in 2013 and its current members include corporates such as PEXA and Xero, as well as a number of local start-ups and businesses.

Its new home was acquired by Pelligra for $14 million in 2019, and the developer has since undertaken a multimillion dollar refit of the building, including a restoration of the fac­ade, which dates back to 1878.

Adelaide law firm Mellor Olsson relocated to 1800sq m over two floors of the building last year.

Mr Krauskopf said the flight to quality in Adelaide’s office market was a key reason for Hub Adelaide’s relocation to refurbished premises.

“The Adelaide CBD office vacancy rate remains stubbornly high at about 16 per cent, according to the latest Knight Frank report, but this really doesn’t tell the full story,” he said.

“A generation of prime buildings and assets that have undergone major refurbishment are much more attractive to occupiers, with a lower average vacancy rate of 12 per cent.

Pelligra Group has undertaken a multimillion dollar upgrade of the historic Pirie House building on Pirie St. Picture: Supplied by Hub Adelaide

“The flight to quality added to Hub’s decision to relocate into a building that had a multimillion dollar refurbishment, creating Adelaide’s only premium co-working offering.”

Hub has entered a hybrid lease arrangement with Pelligra, which will involve it managing the broader building amenities including the cafe and serviced meeting spaces.