Commerz Real has acquired a 25 percent stake in the newly founded online platform Share Your Space, a startup that allows companies to rent, sublet or share their unused office space with other companies, start-ups or freelancers.
In its first phase, Share Your Space begins with a focus on office space in Munich and the Rhine-Main area, but will be extended to other cities in Germany. Susanne Bonfig, Head of Digital Asset Management at Commerz Real, joins the management team alongside Tobias Wagner and Christian Ehl as Chief Operating Officer. In addition, Andreas Muschter, Chairman of the Board of Commerz Real, is involved in the "Share Your Space" advisory board. For Commerz Real this is the third participation in a technology start-up within a short time.
Share Your Space is aimed at short-term project teams, smaller companies or freelancers as well as large companies where office space is leased, mostly long-term, but is not used due to changes, part-time work, home office or travel days. According to estimates, this "unseen vacancy" comprises about half of the total office space stock of around 500 million square meters in Germany. On the other hand, because of the high demand in many office markets, interested companies will find it increasingly difficult to find suitable space, especially when it comes to short-term, temporary use.
"A marketplace like 'Share Your Space' provides a solution to this need by quickly and easily networking space providers and users," explains Bonfig. Not only entire offices or entire floors are rented and rented, but also individual workplaces or meeting rooms. The terms are between one hour and one year. "In addition to the flexibility for tenants and landlords, the platform also ensures greater space efficiency and better space utilization," continues Bonfig. With this in mind, Share Your Space increases the sustainability of space and offers tenants greater flexibility and less risk when planning their space strategy.
"And we help them to become more sustainable themselves," emphasizes Bonfig. "So a win-win package."
This sustainability competence and its granularity distinguishes the concept according to Tobias Wagner, Founder and CEO of Share Your Space, from comparable offers: "We also want to deliberately cover areas off the inner city, thus making short traffic routes possible." Furthermore, Share Your Space, in cooperation with Axa, offers insurance that secures landlords and tenants.
"The fact that we have a globally active, fully regulated partner on board with Commerz Real confirms our business model." The collaboration goes beyond mere participation. "Our goal is to analyze the needs of the most diverse target groups in the area, including the regulated large companies," says Wagner.
Based on this, Share Your Space intends to include further aspects of the letting process in the service and product portfolio, for example security issues in the property. In addition, for the use of Share Your Space access authorizations and land network in the real estate in the digital work of Commerz Real are being researched.
Commerz Real sees the investment as a further step on the path to becoming a sustainable, digital asset manager. "In addition to optimizing our own business processes, digitization means recognizing and opening up alternative, novel business models and the development of innovative digital products," says Andreas Muschter. "And Share Your Space is such an innovative product that meets unmet needs and reflects the growing trend towards the sharing economy."
SOURCE Commerz Real AG
Edited by V. Haviland
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