Office for Rent SingaporeOffice Space for rent or lease - at CBD, Fringe and Business Hubs. Some of the available office spaces are conveniently located near MRT stations, many with shopping, recreation and entertainment amenities. If you intend to shift your office, please view the office blocks below or let us have your requirements, size and preferred location. We also welcome landlords who are keen to lease out their office space.
Downtown Core City Singapore
District: D01, D02
District: D05, D06, D07, D08, D09, D10, D11, D12, D21
Office for Rent
Fundamentally, there are 4 categories of commercial office properties in Singapore:
1. Standard Office Building
These typically have security, lifts, centralized air-conditioning and/or own aircon in the unit. The landlord of the building or MCST for strata offices maintains such common areas. Most come with with ceiling boards, lighting system, fire safety system.
2. Serviced Offices & Co-Working Space
These will be fully equipped and a tenant would be able to start work almost immediately. They are located usually within Central Business District (CBD) or at the City Fringe or commercial hubs, attracting mostly small businesses, start-ups or overseas companies who just need a small representative office. It could accommodate 1 to around 100 people.
Shophouses are very popular with companies that present creative solutions or preferred a less informal environment, including architect, advertising agencies, interior design companies, etc. These are low-rise buildings, which are usually conserved. One main advantage is that the rent is usually lower as there is no service charge or maintenance charge. Most units would come in bare condition.
4. Business Parks
While some of the business parks are similar to standard office buildings, some can be equipped with floor trap and exhaust. They cater to non-pollutive industries and businesses that engage in high-tech, high value-added, knowledge-intensive and Research and Development activities.
Caution in the use of Office in an Industrial Space
In ensuring that the limited industrial land is used mainly for industrial uses, the URA requires at least 60% of the total floor area of an industrial development to be used for core industrial activities. Some non-industrial activities, such as ancillary offices1, staff canteens and showrooms are needed to support the predominant industrial uses have to be catered for. These are considered ancillary and together with other ancillary areas (e.g. lift lobbies and circulation spaces) are allowed to occupy up to 40% of the total floor area of an industrial development.
The market for office is not very well for the year 2016. It suffered further weakness during the first quarter of 2016, with rents maintaining the downward movement seen in the previous quarter.
Rental levels fell by 2% for First Quarter 2016. Experts forecasted a further decline in gross office rentals by the end of the year. This gave the tenants an opportunity to renegotiate to gain better favorable rates and terms before the market turns.
Grade A Office
In prime areas of Raffles Place and Marina Bay, rents decline in First Quarter 2016 for the fourth straight quarters. The average monthly gross rents for Grade A and Grade A+ office buildings in the area each fell by 3.9 percent quarter-on-quarter. Much business is consolidating their premises to cut costs. Tenants in Grade A premises are looking to lease in Grade A+ buildings with higher quality specifications, larger areas and better locations.
Landlords are attempting to retain their current tenants and attract new ones before the completion of new supply from DUO Tower and Guoco Tower that are expected to be completed this year.
The current soft office market is dampened by layoffs on the financial sector and resulted in a tenant mix of key large office space. Businesses from other industries are looking to expand their footprint in the CBD area.
Welcome to Contact Us
Contact Commercial Property Partner, Desmond at +65 9114 3737 or fill in the form below. We are a group of property agents specially trained and focus in commercial properties. We will get back to you within 24 hours.