United Petroleum co-founder Eddie Hirsch has cashed in on the resurgent co-working industry, after securing The Hive as the anchor tenant for a $70 million office tower under construction in Abbotsford in Melbourne’s inner north-east.

The Hive, part of the newly formed Flexi Group which has co-working hubs in Hong Kong, Malaysia and Australia, has agreed to lease 2285sq m – almost a third of the 10-storey tower at 222 Hoddle Street – being developed by the Rich Lister’s Hirsch & Faigen development company and due for completion in June next year.