According to a 2017 Rental Index, Sydney is now the tenth most expensive location on the planet to rent office space. So, while the city continues to attract investors and entrepreneurs, there is a real danger of smaller companies and startups being shut out of the market.
It is a situation which has already made its mark in other major cities like San Francisco, London, New York, and Hong Kong. The good news, however, is that these smaller ventures are fighting back. With the support of flexible, adaptable office solutions, they are defying the need for long-term leases altogether.
Keep reading to find out why a serviced office is the right way to avoid soaring rental costs and set up a successful business in Sydney.
Why Serviced is Different
Before you can make a decision about whether a conventional or a serviced lease is best, you need to understand the difference between the two. For instance, with Servcorp office space for rent in Sydney, you get access to everything that you would associate with a regular workspace. Phone lines, mailboxes, conference rooms, cleaning staff, high-speed internet, and more.
However, all of these services (and any others you might need) are provided and managed by a centralised company. Your business pays to rent the fully equipped space, but the leases are negotiable. The maintenance of the suite is entirely taken care of by your provider. If you need anything, you consult with their staff.
As already discussed, Australia can be an expensive place to be set up shop as a commercial or corporate tenant. However, serviced offices include little to no setup costs and they do not require you to lock the business into a lengthy agreement. It is an affordable way to operate because the one monthly fee covers all resources.
If your office lighting or heating breaks down, the expense is not yours. If you need to extend your telephone hours, you do not have to hire a new member of staff. You can directly access a receptionist service on site. Conference rooms and meeting areas are all available on a pay as you go basis, so you do not have to spend money on facilities until you really need them.
If a stable and prosperous future is the goal, a business must always be willing to strive for more. Whether this means a physical expansion or a broadening of product and service lines; growth is an essential part of survival. Conventional ‘lock in’ leases can make this difficult because they force businesses to either wait for development or pay lofty fees for an early termination.
Not only can this turn out to be a huge expense, it often means that the market conditions which would have supported rapid growth are already passing by. Serviced office solutions are the answer because they offer instant change. It is up to you when you leave the facility, if you upgrade to a bigger suite, or if you expand your range of corporate resources.
Decrease the Lease with Serviced Offices in Sydney
Currently, there are serviced office facilities at Barangaroo, Miller Street, Martin Place, Chifley Square, Columbia Court, Epping Road, and more. These are prestigious corporate addresses, and if you choose to rent here, you will be among some of the most high-profile brands in Sydney.
For young businesses and smaller ventures, it sends a very powerful message – I am here to stay, and I am worth your investment. It is an excellent way to make a striking first impression, without having to commit to risky spending strategies in those early months and years.