Serviced Offices are fully-furnished offices that are managed by professional facility management companies that usually rent a whole floorplate or a whole building from the landlord. They will fit out and furnish the premise before they rent out individual offices to cater to small start-ups with 1 person operation up to 10 people or more.
A serviced office is fully equipped with office furniture, IT infrastructure, telecommunications, and internet connectivity. They also provide communal space such as a meeting room, breakout areas, and services such as printing and receptionist to receive your calls and visitors.
One of the main benefits is that they provide flexible lease terms from 3 months onwards. This is extremely beneficial for start-ups to plan for their expansion plans and operation requirements over a short period of time as compared to the normal office space with rigid lease terms of 2 to 3 years.
Over the past few years, serviced office operators have been expanding aggressively across Singapore from the regional hubs in Jurong to the Central Business Districts (CBD). They have also evolved over time to cater to the ever-changing business landscape to provide a co-working space or hot-desking concept to cater to the growing gig economy where freelancers and start-ups share the common working space to encourage the exchange of ideas and foster collaboration. There are also frequent talks conducted to reach out to entrepreneurs to enrich them and grants that are available for businesses to tap on.
To summarise, these are some of the advantages that companies situated in a serviced office get to enjoy:
Low start-up cost :
No initial capital expenses are required to set up an office from a bare unit and long-term financial commitment is not a concern as the units are fully fitted and equipped with essential office facilities, companies do not need to budget huge design and renovation bills to get the premise ready for operation
Flexible lease term:
You get to enjoy the flexibility of the lease term to give companies the scalability. This is one of the essential requirement especially for start-ups as their headcount can grow exponentially when their business takes off. Rental terms are typically fixed on six months or one year
Prestigious business address
Companies get to enjoy sharing a prestigious address in the heart of the Central Business District at a fraction of the full rental amount. It gives credibility to their client for being seen in these prestigious office building address. (Such as One Raffles Place or Asia Square Tower)
Readily Available.
Due to the growth in the start-up scene and the gig economy. Many serviced office operators such as Regus, Just and WeWork enter the serviced office foray aggressively to gain market share to cater to the projected strong demand for such space. Thus, you will realize that there are many options to consider in the market. With readily available listings, you can move in almost immediately with just your office laptop and suitcase upon finalizing the lease agreement.
Posh and nicely thought out interior design
The established serviced office operators engage interior designers to come out with a beautiful and well-thought design for the premise to attract potential companies
Utilities are also included in your monthly rental.
It is suitable for the following companies
- Companies that have been searching for an interim option and looking to relocate onto a more permanent office space can likewise consider this option.
- New start-ups or overseas company looking to set up their offices in Singapore.
- Companies that have oversea associates that are coming over to Singapore for project management and will require short term office solutions due to insufficient space in their office.
We provide brokerage services with many serviced office providers within CBD as well as outside CBD. Do not hesitate to send us your requirements and we will assist you in your search for your serviced office space. Call us at +65 8180 3752 or send in your inquiries through the form on the right.
Extremely Popular with new startups or overseas company looking to set up their office in Singapore because of the followings:
They are usually fully fitted with office furniture and equipped with just about all facilities essential to business operations from mail support, reception services, IT infrastructure, internet connectivity and telecom connections to office cleaning, air conditioning, electricity and lighting, provision of snacks for employees and other basic resources.
Allow tenants to share common office facilities such as photocopy machines, conference rooms, meeting rooms, etc. which may otherwise be a challenge to provide at the beginning of a business startup. Some serviced offices in fact offer ‘hot desks’ which consist of one work-desk, shared among a number of people who use the work desk at different times of the working day.
The prestigious business address for your company as these serviced offices are usually situated at Singapore’s prime locations in Grade A buildings.
Allows functional expansion option at the same specific location i.e. you can take up additional space as you expand your manpower headcount. This is actually very useful in startup companies because the initial growth is often unpredictable in the growth stage of the company.
Easily accessible with convenient transportation options for your employees as well as clients. The majority of the serviced offices in Singapore are located within major business locations, therefore, they are usually in close proximity to MRT stations, bus services from all over the island and major expressways.
Higher rental price: Renting a serviced office in comparison to renting a conventional office is likely to end up being much more expensive.
Shared common resources such as conference and meeting rooms among all tenants may result in resources that may not be available when you actually need them.
Renting your office in a Business Centre may give the impression of a small and unstable company to your clients.