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The majority of tenants in serviced private offices in Admiralty are in the Finance or Professional Services Industry, offering services such as Recruitment, Accounting, Consulting. This is due to the close proximity to Central which is the main Core Business District (CBD) in Hong Kong. It is also popular with legal firms, as the High Court and several consulates are located in the area. Moreover, easy access to the Admiralty MTR station and the large highways is an advantage for these companies who need to be close to their clients.
After applying discounts and leveraging negotiated prices (with up to 3 months rent free), the achievable rental price per desk in Admiralty is comparatively more stable and predictable than in Central. The demand for shared office spaces and the services they provide is still growing steadily since Q1 2020.
Admiralty is beside Central, Hong Kong’s Core Business District. It is also the major connecting line between Hong Kong island and Kowloon side via the MTR. This allows the area to function as a gateway to Hong Kong’s business Centre, attracting many professionals in finance such as investment management firms and large banks. It is also popular with legal firms due to its close proximity to the High Court and several consulates.
Large serviced office providers such as The Desk in United Centre, Compass Offices in Admiralty Centre Tower 1 and The Executive Centre in Pacific Place have provided the options and flexibility that post-pandemic Hong Kong businesses seek.
Central serviced offices and coworking spaces offer professionally trained and multilingual client service teams to accommodate both local and international clients. Serviced offices in Central can accommodate SFC-related requirements such as independent office entrance or IT-related needs such as dedicated business broadband, server rack space (half rack, whole rack), SFC approved lockable server racks, public IP address, private VLAN segmentation.
There may be concerns with legal requirements for certain industries, in terms of office space. Operators are well aware of this and are able to make adjustments to accommodate any special needs. It is easy to find an office with a separate office entrance and dedicated business broadband.
Coworking spaces in Admiralty provide hot desks, dedicated desks, conference and meeting rooms by the hour, backend support and an all in one invoice at a fixed cost have caused the demand for serviced offices in Hong Kong to rise.