The events of the last year or so has lead to one of the most disruptive periods that the office sector has ever seen, with providers doing all they can to adjust to the challenges brought about by the pandemic. And now, as many businesses opt to return to the office, they are faced with the daunting task of determining which office space option works best for them.
However, there is no need to worry, despite the emergence of new workspace options, as well as the need for additional considerations when choosing an office amid a pandemic, it's not necessarily as scary as it seems, and we are here to help.
For a long time there has been 2 main options when it comes to choosing a workspace, a 'traditional' office or a 'flexible' office, and whilst these 2 options remain as some of the leading choices (with the latter growing substantially in demand in recent years) we have also seen the rise of an additional service - 'built to suit' or 'managed' spaces.
All 3 options have a host of benefits depending on your specific requirment(s).
Lease term: Usually a minimum of 3 - 5 years.
Handover condition: Bare or warm shell. Meaning you will be the one to design and fit out the space at your own effort and expense.
Pros: Office can be designed and managed exactly how you want and is only for your use.
Cons: Requires large amounts of capital and longer lease terms, meaning you are committed to the space for longer.
Lease term: Standard term is 6 - 12 months, however many providers now offer month to month rolling agreements.
Handover condition: Fully furnished, including all utilities and wifi.
Pros: Offers tenants more flexibility with lease terms, fast turnaround for move-in, all utilities and amenities are covered in monthly rental and the space is maintained and managed by the provider.
Cons: The office won't be specific or exclusive to your company, and whilst your workspace will be private, the amenities within the office will be shared with other businesses.
Lease term: Can be leased out on a daily, weekly, monthly or yearly basis.
Handover condition: Usually an amenity within a flexibile office, a shared open space furnished with an array of seating options.
Pros: Cheaper option that allows you to work from a professional workspace that is maintained by the provider, with no commitments long term.
Cons: The space is completely open and shared amongst other tenants and walk-in clients meaning their is minimal privacy/exclusivity.
Built-to-suit / managed office
Lease term: Usually a minimum term of 1 year up to 5 years
Handover condition: You will work with the provider to create a space tailored to your requirements, meaning that at the start of the agreement the space will be bare or warm shell, however by the handover date the space will be fully furnished to your exact liking.
Pros: Allows for a brand specific office with your preferred layout and amenities, for shorter lease terms than offered with a traditional space, whilst also offering the benefits that a serviced office provider brings such as IT, cleaning and admin services.
Cons: A more expensive option than a flexibile office, with a longer timeline for move-in.
Book a meeting today
All the above options come with their own set of benefits, and choosing the right one requires careful consideration on what your business needs. At Greatwork we can help you find the perfect office for your business, whether it is at one of our Flexibile office and co-working spaces across Metro Manila, or our new built-to-suit options in prime locations across the entire Philippines. Reach out to our team today and let us talk you through the best Greatwork option for your business.
Call: +63 917 638 4469