Some of Hong Kong’s business community have had to tweak their operating model as local economic conditions worsened.
In May, he decided to turn the 2,000 square-foot space in the restaurant into a co-working office space.
Providing hot-desking facility did not require a lot of additional input and “we have to pay the rent anyway, why not get the space utilised?” he said.
Second Draft now offers its space from 10am to 5pm, linking up with MilkGarage, which manages a network of co-working facilities in 12 locations under a membership programme.
Interior of WeWork, a shared office space, in Causeway Bay.
Restaurant receipts have declined 30 per cent to 50 per cent since June, according to Hong Kong Federation of Restaurants and Related Trade.
It is unfortunate to see underutilised space in Hong Kong where office rent is the highest in the world, according to Wu Fangyu, founder and chief executive of MilkGarage.