Fully furnished offices go by many different names – it’s also commonly referred to as serviced offices, shared office spaces, business centres or executive offices.
Simply put, these are pay-as-you-use office spaces that come furnished and fully equipped, and are rented out on flexible terms. While the amenities will differ across workspaces, these offices typically offer office equipment, meeting rooms, communal spaces, storage facilities, administrative support, reception services, security services along with maintenance and cleaning.
Serviced Office, Co Working Spaces or a Hybrid
- Grade A Offices: As its name suggests, Grade A offices are first-rate in terms of location, design and amenities. These offices are located in the Central Business District (CBD), are often situated within newly constructed or renovated buildings, and come kitted out with beautifully appointed interiors and top of the line amenities.
- Grade B Offices: In comparison, Grade B offices tend to be located in older buildings, and aren’t as well-appointed as Grade A offices. However, these venues are well-maintained and offer sufficient facilities, and can be a good fit for companies seeking work spaces at lower rental rates.
- Offices with Co-working: Think of these as a hybrid between serviced offices and shared coworking spaces; members will enjoy the amenities and connections that coworking spaces offer, yet have access to a private office space.
You’ll enjoy greater flexibility
One of the biggest advantages that fully furnished offices have over traditional offices is the level of flexibility that it offers. With pay-as-you-go facilities and short-term leases, businesses can opt for solutions that meet their specific needs.
Here’s an example: rather than being bound by lengthy contract terms, you may opt for lease terms that are set on a monthly basis – which leaves you with room to scale up or down depending on your business needs. This makes serviced offices a great option for companies with seasonal manpower needs, or are experiencing rapid growth.
Digital marketing agency MRR Media is a case in point; in an Entrepreneur article, former co-founder Karl Kangur shared that the company grew fivefold within a single year.
“When you’re growing rapidly, it’s easier to upgrade and move to a new space. You’re usually not locked into a long-term lease, and co-working-space owners are more flexible than traditional landlords.”
Thus, he saw value in paying a premium for a coworking space, as opposed to paying a lower rental rate for a traditional office of a similar size.
There’s greater ease and convenience
With fully furnished offices, everything that you need – from the office equipment to communication systems and technology – is ready from the get-go, so there’s little setup time involved. Other aspects, such as maintenance, cleaning, and administrative support are taken care of too, which leaves you with more time to focus on your venture.
Beyond the necessities, coworking spaces are increasingly catering to the unique needs of its members by providing amenities that aren’t typically available in traditional offices. For example, Trehaus addresses the needs of working moms by providing a kid-friendly environment and child-minding services. And at Mox, facilities like 3D printers, carpentry machines, laser cutters and a photography studio help create a convenient and conducive work environment for creatives.
Lastly, location is key when it comes to choosing an office space; a well-located venue helps you cut down on traveling time and puts you within easy access to business amenities. With workspace hunters like SGOffices, you’ll have the option of being matched up to offices all across Singapore – from the city center, to other prime business locations like Changi Business Park or Buona Vista.
You’ll get to tap on a wealth of networking opportunities
Serviced offices and coworking spaces alike offer an interesting mix of tenants, giving businesses the opportunity to interact and connect a diverse range of individuals. On any given day, you could be striking up a conversation with creative freelancers and startup founders, or be engaged in a discussion with professionals working within large corporations.
Depending on the workspace of your choice, you may gain access to additional opportunities for networking – such as events, partnerships and business clubs. In establishing a partnership with PwC Venture Hub, coworking space JustCo provides its members with access to professional services, drop-in clinics and other opportunities for collaboration with PwC.
It helps you create a polished, professional image
There’s no denying that first impressions count – and renting a fully furnished office complete with modern interiors, a full range of amenities and receptionist service can create a sense of gravitas, and help you build up a professional image that’ll leave a lasting impression your business stakeholders.
Choosing the Right Workspace in Singapore for your needs
To ensure that your office move is a seamless transition, it can be helpful to work through the following questions before you start looking into different types of serviced office providers.
What are your needs?
Start with working out what your needs are. What are you looking for in a fully serviced office? How much space do you need, and how many desks will you require? Do you have seasonal manpower needs, or are currently experiencing a growth phase? Could access to additional amenities or a community help support your business? Make sure you list down all your requirements, so you’ll have a list to refer to when you get in touch with workspace providers.
What’s your budget?
Next, you’ll need to work out a budget that you’re comfortable with. And once you start looking into different workspace providers available, keep in mind to discuss the details of what your package includes. The terms will vary across different providers – for example, some may impose additional charges for the usage of meeting rooms or other shared office facilities, so it’s best to get clear on the details during your discussion.
Read also: Cost of Serviced Office Rental in Singapore
What’s the workspace culture like, and how does it fit in with your goals for building up your company culture?
Coworking spaces with a community largely made up of freelancers, creatives and startups may be buzzing with an entrepreneurial vibe. Other workspaces may conduct events on a regular basis, which helps build up a collaborative environment that offers plenty of opportunities for networking.
To assess if the culture is a good fit for your company, you’ll need to pinpoint your goals. For example, if your business is in the early stages of its lifecycle and you’ve yet to build up your own unique culture, coworking spaces offering a vibrant environment could fill in the gap by providing a sense of community. On the other hand, businesses that place a high priority on confidentiality will prefer the sense of security that a private office provides.
Looking for a fully furnished office in Singapore?
Here’s our roundup of workspace providers you might want to consider
- Collision 8
- The Great Room Offices
- The Working Capitol
- The Co.
- ARCC Offices
- The Hive
We know where the good deals are. So give us a buzz below and we can do a price match for your preferred location.