As enterprises look to embed flexibility into their future workplace strategies, the ‘hub and home’ model is emerging as a smart solution, Cook explains.
Unlike the ‘hub and spoke’ model of the 1990s – where satellite offices radiated out from a centrally-located headquarters – or the suburban office park of the 1980s, ‘hub and home’ balances the buzz of the CBD office with the best of work from home.
“A lot of models have failed in the past, and they’ll fail again. There is a reason that offices are located within city centres – because this is one of the best ways to attract and retain talent.”
Cook is also sceptical of the ‘hub and club’ model touted in some quarters, where a central office is supported by smaller airline-style lounges in suburban locations. “How many of these lounges do you need? Are you going to tell people in Cronulla that they can’t have a club but people in Manly can? It’s a cultural killer,” he says.
“Covid has shown us that the hub and home model works. Rather than take more space, tenants are more likely to offer flexibility in how people choose to work, and to invest in a high-quality office at the heart of the city.”
“Covid has shown us that the hub and home model works. Rather than take more space, tenants are more likely to offer flexibility in how people choose to work, and to invest in a high-quality office at the heart of the city.”
Michael Cook, Group Executive Property, Investa