FutureSpace has launched its second workspace, after the first reached near capacity in just over a year.

FutureSpace is a joint venture between Investec Property and workplace specialist Giant Leap.

The new instant-access space is located in Rivonia, Sandton, a few blocks down from the first FutureSpace office. “It offers individual offices and booths, as well as open areas designed to meet working needs without the effort and cost of signing and committing to a long-term lease,” said FutureSpace.

The company added that, since it launched the first workspace just over a year ago, it had been inundated with demand from executives and consultants who wanted their own offices, as well as startups, entrepreneurs and even global companies coming to South Africa that needed to start operating quickly.

“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,” FutureSpace stated.

Giant Leap director Linda Trim noted the success of FutureSpace lay in being aligned with global trends away from ownership and towards instant access.

FutureSpace offers fully fledged offices with everything a business requires, from high-speed fibre WiFi, concierge and support staff to meeting rooms and videoconferencing.

There is also a gym in the building and 24-hour electronic security. Barista coffee and food are also available.

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.

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

“Office space is no different – 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,” noted Trim.

She added that it could take months to find suitable office space and just as long to install information technology 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.

Conflict Resolution Boost
The second workspace happens to be playing host to the path-breaking International Arbitration Centre.

“By providing 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, which means it will be cheaper and quicker,” said Trim.

In December 2017, South Africa adopted the International Arbitration Act for the first time. The Act incorporates into South Africa’s law the United Nations Commission on International Trade Law model law.

This means South Africa can now host arbitration hearings, while, previously companies had to head to Europe. The new arbitration centre mirrors best-in-class arbitration design facilities overseas.