For most startups and small businesses, renting an office is a big decision. There are questions such as…
What’s the right location?
What amenities do we need?
Finally, how much do we pay, without breaking the bank?
There is no dearth of renting options in Singapore. But that’s the problem. There is too much choice and your decisions get all wonky.
In this article, we clear things up. Give you a clear picture of the office rental scenario in the mainland.
Serviced Offices Singapore
Serviced offices have frankly been a bit of an enigma. There is a general consensus that they are expensive and over optimized office spaces that burn your bank and do nothing for you.
That can’t be further from the truth. We cover the aspects of serviced offices that make it worthy for any large business or a startup.
So what are serviced offices?
Serviced offices are full-fledged plug and play offices that are fully furnished and have a short-term rental option. This means you don’t get tied up with long-term leases.
Serviced offices are suitable for small businesses that have an expanding team. Serviced offices also lend an air of authenticity with the way they are set-up and the locations they are present in.
They are much more than co-working spaces, which are just spaces with internet that don’t offer any other amenities.
Serviced offices are broken down by Grades – A,B and C.
How do you differentiate between a Grade A, Grade B and Grade C offerings?
Similar to restaurants, serviced offices charge different rates based on various factors. The main factors that decide the pricing are
- Building and Upkeep
Let’s break these down further.
Location is King
The oldest trick in the book when it comes to retail is location, location and location.
The most premium offerings(Grade A) are in posh locations and in Singapore, they are your usual suspects which are Downtown Core, Marina East, Marina South, Museum, Newton River Valley, Orchard, Rochor, Harbour Front, Beach Road, Buona Vista, Jurong East among others.
Well-funded startups that have a reputation to maintain and who also want to provide great transport access to their employees will choose Grade A offices.
If location isn’t important to your business, then locations outside the CBD will work well for you.
Building and Upkeep
The next way to figure out a Grade A office is by looking at the building. Grade A service spaces are generally located in skyscrapers in the CBD that are well maintained and have modern architectural standards.
Generally, Grade A offices are also part of newer buildings, if that’s not the case, then they are part of well maintained and refurbished buildings.
Grade A serviced spaces will stand out in terms of its decor compared to Grade B and Grade C. They generally have large windows with plush interiors, premium leather sofas and high-quality upholstery. The spaces of a Grade A serviced space will be planned exceedingly well by experienced architects that enable community interaction that makes work easier.
Grade A offices also have ergonomically comfortable seating that is good for your back. A few of them might have standing desks for the health-conscious patron.
Amenities offered by Grade A spaces are unmatched by Grade B and Grade C. Here is a list of amenities.
Wifi connections in Grade A offices will be state of the art dedicated connections that are blazingly fast.
A few serviced spaces will have car parking facilities for its patrons
Sitting cooped up in an office all day can be detrimental for productivity. Many Grade A offices have outdoor spaces with some greenery that gives from fresh air and it’s a perfect place for much-needed breaks.
Meeting Rooms with Video Conferencing
A good serviced space will have dedicated meeting rooms for at least 10 to 15 people. These serviced offices also have advanced Video Conferencing facilities.
A well-stocked kitchen with steaming cups of coffee is a mood changer in most workplaces and it’s the same case for Grade A spaces. They are charged over and above the rental cost, but they are a much-needed service.
The best part about premium working spaces is the people who become patrons. They are well-educated, well-networked and hold reputable positions in different companies. The chances of collaboration and sharing ideas are very high.
Most spaces also conduct social networking events where people can pitch their products and showcase their company.
|Grade A Serviced Spaces||S$1,200/Month/Pax and above|
|Grade B Serviced Spaces||S$700 to S$1,200 /Month/Pax and above|
|Grade C Serviced Spaces||S$500 to S$700 /Month/Pax and above|
A Serviced Office Comparison
Two very popular serviced offices in Singapore are Greenhub and The Great Room. These two spaces offer the same amenities and services but at very different price points.
The Great Room offers a dedicated office for $2500 a month while the Greenhub offers the same amenities and space for $350 a month.
This huge difference can be attributed to two things – Location and Decor.
The Great Room is located in the Central Business District, while Greenhub is located in Tanglin road.
Coming to the decor, The Great Room is beautifully set-up with plush furniture, premium carpeting, large open windows that let in natural light. There are also comfortable open spaces with sofa seating for people who want to work away from desks.
Whereas, Greenhub offers functional decor. It’s isn’t too premium or plush. Its purely functional.
Why choose a Grade A office
A Grade A office is recommended in the following situations
- If you have a lot of client meetings
- If you are a well-funded startup and you need to employ the best talent
- You want to be among the top companies in the industry
- You need to give top perks to your employees to retain them
- You are a small organization and most of your employees live close to the CBD area
- Productivity and employee satisfaction is paramount to run your business
SGOffices.com is the ultimate destination for serviced offices in Singapore. We take into consideration all your needs, requirements, budget, size of company and showcase the best serviced spaces that are sure to cater you well.
Check out a more elaborated explanation for Serviced Office Singapore Price Guide.
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