Karma Collab Hub: Gold Coast co-working space to close, blaming council and Covid-19
The Gold Coast’s Karma Collab Hub is to close its doors, with its operators revealing what’s to blame.
Business
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MIAMI’S Karma Collab Hub will close its doors as the “financial pressure” of Covid continues to bite.
The hip co-working space will cease operating on December 31 and is the latest business to buckle under the weight of the economic hit to the city, which lost $550m in July and August alone.
Opening more than four years ago, it is one of several buildings across the city which offers short and long-term hot desking locations for office workers, as well as functions.
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Karma Collab operators Steve Morley, Candice Oliver and Guilherme Cescatto have told tenants of the Lemana Lane complex the impact of Covid and issues with the Gold Coast City Council forced its closure.
“Karma Collab Hub has been trying to resolve issues with Gold Coast City Council and dealing with lockdowns over the last months,” the trio said in a statement.
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“These circumstances have placed a financial pressure on the business model and partnership to the point that the business cannot sustain these external pressures and continue to operate while meeting the values it was started upon.
“Once again, it is with sadness it has come to this point, however, we would appreciate your support until the closure date and want to thank you for being part of this wonderful community we have all built and for adding value to not only the Karma team but also to the lives of everyone you have met here.”
Karma’s bosses have vowed that all services inside the complex will be maintained “to the highest standard” until the closure, which was announced to give its tenants time to find alternative venues.
All bookings will be honoured until January 1, 2022.
Area councillor Pauline Young said a range of issues had led to the closure, including not having correct approvals.
“I am disappointed it is closing because they are good at what they do,” she said.
“This is the culmination of several thing.
“It’s a shame because it is a great space and supports so many organisations.”
The impact of the pandemic on the Gold Coast’s economy continues to grow, with multiple major events cancelled in the past week, with more expected to be cut leading into Christmas.
The 2021 Logies and the GC500 motorsports carnival were both cancelled in the past week and there are fears this year’s schoolies celebrations are unlikely to go ahead.
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