A traditional office involves a contract between a landlord and a tenant or a tenant and subtenant. Leases with traditional offices are fixed and long-term, with a typical 2+ year commitment. A traditional office is typically offered in a bare or semi-fitted state, this means that it is the responsibility of the tenant to set up partitions, furnishings, internet connection, cabling, etc. However, there may be some traditional office spaces in Singapore that are already fully-furnished. Whichever condition the office is in, rent will typically be based on a square foot basis, rather than a per desk basis as with a coworking space or serviced office.
Due to the additional fit-outs and longer lease terms, a traditional office is well-suited for established companies looking for a permanent location for their business, and who can afford to make the necessary investments. These will be found in the central business districts of Singapore in areas such as Orchard Road, Raffles Place, Suntec City, Tanjong Pagar, Marina Bay, etc.
Traditional offices have the additional benefit of allowing a company to completely design the space to reflect their branding and their goals. In other words, they can truly make it their own, and privacy is guaranteed. Even though initial costs are more expensive, traditional offices can in fact be more cost-effective in the long-term and give you full control over what you’re paying for. It is the ideal option for established businesses with a stable growth trajectory and stable flow of income.
For office leases in Singapore, a typical lease period will be anywhere from 1 year to 5 years. A good rule of thumb is that the longer the lease period, the greater the potential for negotiating lower rents. These leases are commonly for a Grade A or Grade B office building or a shophouse in one of Singapore’s business districts.
FlySpaces is the largest online marketplace for workspaces in Southeast Asia. We are partnered with over 1000 spaces in Singapore alone. We aim to be your long-term business partner, with the widest range of traditional office options in Singapore and partnerships with the largest developers, real estate agents, and landlords, we can provide you with the best options to match your business needs.
Integrating technology, expertise, and full-support throughout your office search, our local Space Experts will be working for you to ensure you find the perfect office space in Singapore.
If you’re ready to find your new office, or have a couple more questions, get in touch with us and our Space Experts will gladly help you out.