Grade “A” Office Space is able to command higher yield

• 28 November 2019
• Property Focus
• 2767 Views

By Dan Davies (Extract from Dan Davies unpublished Design Review)

Introduction

The desire and intention of many developers is to provide the leading office space in Cambodia and to be considered as GRADE A, for which they will be able to command higher yield rents by offering high quality and desirable services

Classification of Grades for Buildings

Office buildings are generally classified into one of three categories: Class A, Class B, or Class C. Standards vary by market, and each category is defined in relation to its counterparts. Building classification allows a user to differentiate buildings and rationalise market data — that said, classification is an art, not a science. While a definitive formula for each class does not exist, the general characteristics are as follows:

General Characteristics

These buildings represent the newest and highest quality buildings in their market. They are generally the best looking buildings with the best construction and possess high-quality building infrastructure. Class A buildings are also well located, have good access, and are professionally managed. As a result, they attract the highest quality tenants and also command the highest rents

Definition of Grade “A” Buildings

The definition of Grade A office space is not universal and differs from country to country depending upon the property market and expectations of the tenants.  In more mature markets such as London, Singapore, and Hong Kong, expectations of tenants are higher as well as building codes, and fire and safety regulations making standards much higher compared to more developing countries.

Asset Management Class in RCI

The Royal Chartered Institute (RCI) will be conducting its 1^st Module on Asset Management for Certificate of Asset Management, on September 2019. The lecturer will be Dan Davies from the United Kingdom. Royal Chartered Institute (RCI) would like to invite our readers to visit RCI at Steung Mean Chey Market 1^st floor to know more about the 15-week course on Asset Management in September 2019. Please email and or contact RCI for more information.

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