When searching for the ideal office space for your company, looking solely at the square area can actually make you pick an incompatible workspace. While size certainly plays a big role in which location will best suit your business, there are plenty more factors that could actually have an even bigger impact. If you want to ensure your new office space creates a great work environment and helps you be more productive, make sure to look at the big picture.
What Are Your Company Needs?
While it may sound counterintuitive, some large companies actually only require very small office spaces. For example, if your business is heavily-reliant on bringing clients into the office, you’ll want them to see a beautifully-decorated space, a reception, in-house staff to build trust and display prestige. However, if you work remotely and operate a digital business with no client visits, you will likely need a smaller, simpler space to accommodate fewer on-site staff.
Another thing to take into consideration will the number of desks you need to accommodate your staff. For example, you can easily rent an office with Compass Offices, which generally charge per number of seats and therefore, that might have an influence on your choice. Also, do not forget about your potential growth. Will you need more seats in the future? Does your serviced office or conventional workspace allow you to easily scale your business?
Picking the Best Location
Depending on what you decide based on your company’s needs, there are several locations in Hong Kong that offer various perks.
Hong Kong Island is the city’s most premium office space destination with districts like Central, Admiralty, and Wan Chai commanding high rent prices but offering great convenience in terms of transportation and exceptional prestige.
Kowloon offers a mix of posh and affordable workspaces with districts like Tsim Sha Tsui commanding premium prices, while districts like Lai Chi Kok and Kwun Tong offer more affordable office spaces with good transportation access.
The New Territories is the best place to look for offices at a bargain. Though districts like Tai Po, Tseung Kwan O, and Tsuen Wan are further to get to, they are still well-connected by Hong Kong’s MTR and bus system.
Meeting Rooms And Conference Rooms
When it comes to meeting clients or business partners, if you would like to avoid meeting in coffee shops, there are mainly two options available in Hong Kong:
- Customized meeting rooms: This may require a total rebuild of the office, but if it plays a key role in making sales, it could be worth it in the long run. While you will need a private office space to do so, some serviced offices actually propose custom plans to design tailored office spaces, based on your requirements.
- Standard meeting rooms: Serviced offices offer meeting rooms for rent for a few hours, with all the privacy of a traditional office. You can easily rent a meeting room without even being full-time member, but if you do, you will also have access to shared facilities like a common area.
Check The Amenities And Add-Ons
Your office space will likely come with a few amenities and add-ons included. Before you agree to a lease, you should check that the amenities provided work properly and that they meet your needs. For example, things like communications and WiFi are key elements to check.
Many buildings in Hong Kong are still incompatible with fiber optic cables meaning that your internet may not be at the highest speeds and if you’re working online, in the FinTech or eCommerce industries, or if you need to attend Zoom meetings frequently, you might want to go for an office that offers great internet connectivity. Do not hesitate to test the connection when you visit the office (see how), to make sure it fits your needs.
Also, you should keep in mind other things like pantry spaces, electrical outlets, plumbing, and toilet spaces, and even how much natural light your office gets. For example, if you go for a traditional office, you will have to look after all these amenities, but if you rent a serviced office, they will be included and ready to use.
Negotiate The Terms And Rent
The first thing to keep in mind when negotiating rent and lease terms in Hong Kong is that if you cannot speak Cantonese, you should find a proficient translator/negotiator, especially if your landlord does not speak English.
Next, you’ll want to do three easy things to ensure you can negotiate the most favorable terms and rent price.
- Negotiate your lease and terms a few weeks (not months) in advance. If the landlord has to wait months for you to stay paying, you will not get a good deal.
- Go for a longer fixed lease if you plan on sticking around. This brings stability to the landlord, who will then be more inclined to give you great pricing and favorable terms!
- Don’t settle on the first place you see. Pick at least two suitable properties and contact both landlords to see who will be more willing to offer the best deal and terms.
There are so many factors that go into picking a great office space that it can be easy to be overwhelmed. Just remember to consider your business needs, what amenities you get and the condition they’re in. Beyond that, negotiate with a smart strategy in mind, and you’ll have an office you can be proud of in no time!