How to Choose an Office Space

• 13 November 2017
• Property Focus
• 3241 Views

When looking to lease new office space, a company should make sure that it really serves the needs of the company in terms of convenience, financials, utilities provided for clients and staff, and most importantly, their branding and corporate image.

Some of the guidelines when choosing a new office such as the traveling time during rush hour by car etc. would determine which building fits the company’s requirements. When choosing a new office, a tenant can ask for the floor plan of the building and have an interior designer draft the layout of workstations, and the required functions to determine the required space usage.

You should remember to check the security system of the building to see whether it serves the safety requirements. Find out the electricity and air-conditioning costs during and after office hours. Here in Cambodia, the rates will be different for some office buildings. You can also inspect or test the mobile-phone signals in the office space and in other common areas of the buildings.

There are other requirements such as checking the waiting time for elevators, especially during peak hours because elevators in some office buildings can get really crowded during peak periods. You can also observe the property-management services in the buildings.

Inside the office building, identify other tenants in the buildings to ensure that there are no undesirables or direct competitors from your business. Outside the office building, make sure to verify car-parking allocations, fees, and regulations for the benefit of your company staff and clients. Check whether there are food and beverage facilities in the building and nearby areas. Also, consider the adequacy of the building’s services and facilities in meeting the company’s requirements with a rent that will not exceed its budget.

Having sufficient parking spaces is the most essential need for any tenant, Chan Mlop Sokha from Sokha Law Firm said.

“I would look into the amenities offered in the building as well as the rental price. Location is also important, as I do not want to travel too far from the place that I stay,” Chhayleang Nguon, CEO of Ratanaka Realty added.

Financially, make sure to check who pays for the property taxes. Conduct cost analyses of rents and other expenses, and other information on timing such as the office-market cycle and rental movements with other comparable buildings. These will give you an idea whether it is worth renting the particular office spaces.

All these above processes can be done for existing buildings, but may not be applicable in new, upcoming pre-lease buildings. In such scenarios, it is important to prepare a list of questions to raise with the property management of the office building, to which written answers should be provided by the landlord or developer.

In the end, as companies do not move office on a regular basis, it is imperative to ensure that you make the right choice when choosing the best office space for you.

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