Aussie Commercial Portal Sidespace Seeks A$2.5 Million Investment to Challenge Market Norms

October 19, 2023
Share this Post: 

The Australian commercial real estate marketplace operator Sidespace is currently seeking a capital infusion of A$2.5 million to fuel its growth plans in the commercial real estate sector.

According to a press release, the portal operator aims to achieve A$12 million in annual revenue by 2026, thanks to its unique approach to the market.

Sidespace's distinguished backers include Patrick Grove, founder of Catcha Group, and Gilles Blanchard, co-founder of France's leading real estate portal, Seloger. Mathew Care, CEO of Digital Classifieds Group, and Chad Stephens, co-founder of innovative tech firms 1Form and Fillr, are also part of the investment mix.

Sidespace is seeking to bring a fresh perspective to the commercial real estate market through its success-fee-based business model. Founder and CEO Simon Hanlon emphasized their unique selling point, saying, "Rather than clients deploying up-front advertising spend, we absorb all the risk and clients only pay when a lease or sale is achieved."

The company's approach has already facilitated over 1,000 transactions, generating more than $2.5 million in revenue. Sidespace aims to offer landlords and agents a risk-free platform, where they only pay when a transaction is completed.

With the new funding, Sidespace plans to invest in technology and automation, key hires, and marketing efforts. Several major Australian landlords, including Dexus, BlackWall, and The GPT Group, are already using Sidespace, along with tenants and investors who have expressed satisfaction with the platform.

Sidespace intends to expand its presence in the commercial real estate sector, particularly in the flex office market. By providing a success-fee model and a unique approach, the company aims to introduce a new perspective to the commercial real estate landscape.

Read more

October 19, 2023
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

People Roundup 20 June 2024
People Roundup: CoStar Group, Holo, Dubizzle

This week's people roundup is finance-heavy, with two CFO appointments coming out of Asia and the United States.   CoStar...

Read More
Aggregators Article Hero Imaghe
What Are Real Estate Aggregators and Are They About to Disappear?

Looking back at the talking points from Property Portal Watch 2010 it seems that classifieds aggregators caused a stir in...

Read More
Houseful Rebrand
Houseful (Zoopla) Launches "Movemnt" Transaction Infrastructure for Property Professionals

Houseful has launched "Movemnt", a free-to-use national home transaction infrastructure for all estate agents, conveyancers, mortgage lenders, and brokers. Movemnt joins...

Read More
Untitled Design 15 1
Realtor.com Releases Next Stage of Its Buyer Agency Advertising Campaign

Realtor.com, the number-two portal in the US and part of the three-way battle for market leadership in the so-called "portal...

Read More

Editor's Pick