How to find an office space in Singapore

Finding the right office space in Singapore is a complex process. Not only is there the matter of finding the right location, there is also the need to consider several other factors such as rent, utilities, and security.

This guide is aimed at helping you navigate through this maze and you will find an easy-to-follow guide on how to find the best office space in Singapore and how to save money when doing so.

Decide why you need an office

The first thing you need to do before you search for the best office space in Singapore is to decide why you want an office.

The two most common reasons are that you want to start a business and you need a professional space to work in with your employees. Working from home is one thing, but to increase productivity or meet business partners, an office space is ideal.

If both are your reasons, then you will need to find a space that is conducive to running a business. This means that you need a professional, clean space, with good lighting, and with the ability to offer adequate power and the Internet.

Depending on your reason, you will need to look for a space that is fully furnished or one that can be furnished. While there is no harm in having a furnished space, it can be an enormous expense. However, if you need to buy furniture, it will cost more than if you do not.

Choose the best office type

There are two types of office business owners usually choose from, when it comes to renting an office.

Traditional offices

The traditional office is the more common type of office space and usually comes with several benefits, such as privacy because only your company will use the premises.

However, it might be costly and renovation might occur. If you decide to rent an office on your own, then you will have to look after the design, the Internet, the materials, the electricity and so on.

Flexible workspaces

A flexible workspace is a newer type of office and comes with flexibility and benefits for companies who do not prefer to use a traditional office. Most likely, a “flexi-workspace” is either a co-working space or a serviced office in a business centre.

Co-working space is an open space that is shared by some businesses and customers. Meanwhile, a serviced office comprises an entire office suite that a facility management company rents to third parties. It is a fully equipped office with flexible rental terms.

These options come with in-house services and maintenance staff. They are designed for small businesses and entrepreneurs who are not ready yet to invest in an office suite.

Compass Offices is a leading office space provider in Singapore and offers a good option to rent a serviced office in a business centre for instance.

Consider the size and location

The next thing to consider is the size and location of the office space. To be more specific, you need to consider the square footage and location of the space.

Large office space will cost more than a smaller one. However, smaller spaces are often better for start-ups and small businesses. They offer better flexibility and fewer hassles.

As for the location, your office must be near your clients or business partners. This will help you stay connected to them and be available when they need you. If you need to regularly meet clients in the centre of Singapore, having an office around the Downtown Core, Raffles Place, the Marina East, Marina South, or the Orchard could be great options.

It also means that you’ll have a good chance of having a long-term relationship with them.

Services, facilities, and due diligence

A suitable office space should offer you the services and facilities that you need to be productive and efficient. The first thing to look out for is if your office space offers things like business amenities, such as printers, meeting rooms, and office furniture. You will also need to consider if there are cleaning staff, security measures, and utilities.

Once you have decided on the type of office space that you want, it is time to arrange a viewing. This is a crucial step because it helps you narrow down your options and to make sure that the office space matches your expectations.

Before going, it is best to write all of your expectations. It will help you narrow down your options and come up with a more detailed list of what you want in the office space.

Negotiate the offer (lease term, renovation, etc)

The last thing to do before you move in is to negotiate the offer and to discuss whether there are any discounts based on the leasing terms. Some office space provider will offer two months free, for 12 months contracts.

The cost of office space will vary depending on many factors but are in rising in Singapore reports Bloomberg, and finding the best deal is important before you make a final decision.

The next thing that you need to negotiate is whether any renovation works need to be done before you move in, especially if you decide to use a traditional office.

You will also want to check if there are any services or facilities that are not included in the office space. For instance, with a serviced office, you might want to discuss the number of hours you can use the meeting rooms, as it can increase the bill in a significant way, should you need more hours than the initial package offers.

Conclusion

Finding the best office space in Singapore can be a tricky process but options exist for any type of companies and budgets. The key to finding the right office space is to consider your needs and requirements and not settle for anything less than what you need.

If you don’t have a clear idea of what you are looking for, then it might be best to seek professional help from a professional property advisor or an expert in the field.