Serviced offices offer increased flexibility

A serviced office, otherwise known as an ‘executive suite’ or ‘executive space”, is an office or office building that is fully fitted-out and managed by a facilities management company. This management company will rent individual offices and/or floors to other organisations.

 

What are the benefits of a serviced space?

Serviced offices may offer benefits over conventional offices for new or dynamic businesses, including no/low start-up costs, prestigious addresses, flexible leasing, maintenance, short-term leasing options and immediate availability.

Their services typically include:

  • secretarial support;
  • IT support;
  • a dedicated receptionist;
  • IT solutions;
  • telecom connections;
  • IT infrastructure;
  • internet connectivity

Hong Kong - Office Building

Facilities consist of:

  • conference rooms;
  • meeting rooms;
  • break-out areas,
  • heating,
  • air conditioning and other utilities;
  • furniture;
  • full time security;
  • insurance.

 

Who uses business centres?

Firms housed in business centres and serviced office space include start-ups, interim clients between longer term space, project based clients requiring one off space, and firms new to a location, which are finding their feet.

 

Hong Kong’s serviced office market

 Commercial property for rent in Hong Kong has traditionally been in high demand. Despite the global financial crisis in 2008-2009, today investors pay top dollar for Hong Kong rental.

Ranking as one of the world’s most expensive office markets for tenants, renting office space in Hong Kong is challenging for SMEs and start-ups. With traditional office space commanding soaring rentals plus a growing space shortage, more start-ups are exploring the serviced office market as an option.

Despite high rental fees on a dollar per square foot basis, serviced office suites hold many advantages for start-up enterprises. They offer no capital costs, have readily available infrastructure and offer friendly, flexible tenancy periods. JLL Property Hong Kong works with serviced office providers and can help you to rent an office space in Hong Kong. We will be delighted to help with your search.

 

Short term advantages

 

On average, the monthly rental fee for serviced offices in Hong Kong ranges from HK$5,000 to HK$11,000 per person per month. You may also have the benefit of negotiating the rent for long-term lease durations that are one year and over, depending on landlord and location.

 

Unlike renting a traditional commercial space, the distinct advantage of renting serviced offices is flexibility.  You are in control of the lease term, opting for a 3-month lease, 6-month lease or a one-year lease. As opposed to complex and intricate lease documents that often involve legal assistance, a serviced office lease is a simple user-friendly document that details the terms and conditions of the lease.

 

 

 

Eric ChongEric Chong is the Senior Analyst of Research for JLL in Hong Kong. JLL provides corporate strategic, restructuring and transaction advice, equity and debt financing advice, management contract negotiation, asset management, development structuring, valuation advice and market research. Follow him on LinkedIn.

 

 

 

 

Images via Shutterstock: Patrick Fotor.nagy

About Author

Avatar

39 Comments

  1. Avatar

    Does your site have a contact page? I’m having problems locating it but, I’d like to shoot you
    an e-mail. I’ve got some suggestions for your blog
    you might be interested in hearing. Either way, great
    website and I look forward to seeing it grow over time.

  2. Avatar

    I do trust all of the concepts you have offered on your post.
    They are very convincing and will definitely work. Still, the posts are very quick for novices.
    Could you please lengthen them a bit from next time? Thanks
    for the post.

  3. Avatar

    It’s truly very complicated in this full of activity life to
    listen news on Television, therefore I only use world wide web for that reason, and take the newest
    information.

  4. Avatar

    Excellent post. I used to be checking constantly this blog and I am impressed!

    Very useful info specifically the last part 🙂 I deal with such information much.
    I was seeking this particular info for a long time. Thank you and good luck.

  5. Avatar

    Helpful information. Fortunate me I discovered your website
    unintentionally, and I am stunned why this twist of fate did not took place
    earlier! I bookmarked it.

  6. Avatar

    When I initially commented I clicked the “Notify me when new comments are added” checkbox
    and now each time a comment is added I get three e-mails with the same comment.
    Is there any way you can remove me from that service? Thanks!

  7. Avatar

    After I initially left a comment I seem to have clicked on the
    -Notify me when new comments are added- checkbox and
    now every time a comment is added I get four emails with the same comment.

    Perhaps there is a means you can remove me from that service?
    Many thanks!

  8. Avatar

    Can I simply just say what a comfort to uncover somebody that truly
    understands what they’re talking about on the internet. You
    certainly know how to bring an issue to light and make it important.
    A lot more people ought to check this out and understand
    this side of the story. I can’t believe you are not
    more popular because you most certainly have the gift.

  9. Avatar

    Hello! This is my first visit to your blog! We are
    a collection of volunteers and starting a new initiative in a community in the same niche.
    Your blog provided us valuable information to work on. You have done a wonderful job!

  10. Avatar

    Hi there would you mind stating which blog platform you’re using?
    I’m planning to start my own blog soon but I’m having
    a tough time making a decision between BlogEngine/Wordpress/B2evolution and Drupal.
    The reason I ask is because your layout seems different then most blogs and I’m
    looking for something completely unique.
    P.S My apologies for getting off-topic but I had to ask!

  11. Avatar

    Hi there! I just would like to offer you a big thumbs up for your excellent information you have
    right here on this post. I will be returning to your blog for
    more soon.

  12. Avatar

    It’s a pity you don’t have a donate button! I’d most certainly donate
    to this outstanding blog! I guess for now i’ll settle for bookmarking and adding your RSS feed to my Google account.
    I look forward to brand new updates and will share this blog
    with my Facebook group. Talk soon!

  13. Avatar

    Hmm is anyone else having problems with the pictures on this blog loading?

    I’m trying to figure out if its a problem on my end or
    if it’s the blog. Any feed-back would be greatly appreciated.

  14. Avatar

    Hi there to every body, it’s my first pay a quick visit of this website;
    this weblog includes amazing and really fine data designed for visitors.

  15. Avatar

    Thank you for the good writeup. It in fact was a amusement account it.
    Look advanced to more added agreeable from you!
    By the way, how could we communicate?

  16. Avatar

    Hello! I could have sworn I’ve been to this blog before but after
    browsing through some of the post I realized it’s new to me.
    Anyhow, I’m definitely glad I found it and I’ll be bookmarking and checking back often!

Leave A Reply