Precinct Properties NZ Ltd has conditionally acquired a 50% interest in the Generator business, which operates 3000m² of co-working space at 3 areas in Britomart, notably in the revitalised buildings on its Customs St East frontage (pictured above).
Generator chief executive Ryan Wilson, who co-founded it in 2010, describes it as “a workspace revolution for a new breed of ‘black collar’ workers – a stimulating space that combines leading edge technology with the latest design. Simply put, the coolest office in the world available & affordable for small, creative & entrepreneurial businesses.”
And Precinct chief executive Scott Pritchard said yesterday: “Generator is well aligned with Precinct’s strategy of being a city centre specialist. It has a strong management team and offers the opportunity to expand the market in which Precinct operates and to enhance the amenity & service levels that Precinct can offer its clients.”
Generator’s ‘curated’ community encompasses 107 member companies, including award-winning local startups & beachhead offices for global operators. Mr Wilson said it had grown strongly & consistently over its first 6 years, and the partnership with Precinct came at a perfect time to escalate that growth to a new level.
“Precinct is a serious operator in the property business in New Zealand, and this partnership gives Generator a solid foundation for its own expansion plans and the rollout of an exciting schedule of programmes & services that will support our business ecosystem.”
He said its success had been achieved through the provision of specialised, professional & a highly curated co-working membership experience: “We place a great deal of emphasis on ensuring that members have a discreet, modern, relaxed & comfortable environment in which to work (and socialise), but we also believe there is an equal need to ensure our members can present a more formal & highly professional face to the market when the situation demands.
“This extends both to the range of office environments & the facilities offered. Initiatives in the pipeline include rapid development of GENHUB, our digital community & information platform that allows members to interact with Generator’s services and discover collaboration opportunities, a new in-house investment programme, member incentive scheme & international scholarship programme.
“We are always mindful that we exist because our members choose to be with us, which means we are constantly on the lookout for innovative ways to help our member businesses grow & succeed.”
15 June 2016: Generator expands again
Attribution: Company release.