Described as an “urban village”, the group’s sub-brand Kafnu brings flexible workspaces and accommodation under one roof and is the first to do this in Australia.
The Sydney venue, which was approved by the City of Sydney council this month, will be in the inner city suburb of Alexandria, within Dexus-owned The Mill business estate.
It will take up a three-storey building spanning 3,500 sqm and will have 16 guest rooms, multiple workspaces and meeting rooms, a podcast studio, a photo studio, a brainstorming room and a fitness studio.
The first Kafnu location opened in Hong Kong in late 2017, followed by one in Taiwan’s Taipei and another in India’s Bengaluru this year.
Next Story Group’s chief executive officer Anand Nadathur said the rise of professionals juggling several occupations, or hyphenates, in the Asia Pacific paved way for Kafnu.
“Kafnu’s infrastructure is a seamless blend of a private members club, shared workspace and boutique hotel,” Mr Nadathur said.
“We are most excited about the interplay and collaboration possibilities between our members and that the role we play in being a catalyst in their journey.”
The brand’s strategy will incorporate a hub-and-spoke model, with a large city ‘hub’ occupying 5,000 to 10,000 sqm. The smaller ’spoke’ locations will provide 2,000 to 5,000 sqm.
Kafnu members will be able to access the spaces across the network, as well as strategic partnerships, premium services and private events.
Andreas Flaig, Next Story Group’s chief development officer, said the “back-to-back launches” are the beginning of the hub-and-spoke strategy.
“A region-wide network means that our Kafnu members can access like-minded communities of hyphenates wherever they travel to,” Mr Flaig said.
“At the same time, we believe that Kafnu’s unique value proposition will enable real estate owners to capture the burgeoning growth of shared work spaces and be truly differentiated in today’s competitive market.”
An eight-level Kafnu is anticipated to open in Vietnam’s Ho Chi Minh City this year, including nine guest rooms, workspaces, a lounge and music room, an entertainment room and an events floor.
The group will also launch Kafnus in Colombo in Sri Lanka and a second space in Bengaluru in 2019.
Cover Image: Kafnu