Lease Flexibility
Why financial services companies must rent a serviced office in 2021
The Hong Kong Banking and Finance sector has been under pressure since the beginning of the Sino-Us trade war back in 2018. Moreover, the social unrest and the now COVID-19 crisis forced businesses to restructure and adapt to a changing market.
It used to be mandatory for finance-related firms to have their traditional office and spending a lot on both CAPEX and OPEX. It is now a thing of the past with serviced office and coworking space operators that comply with all the SFC’s requirements for their clients.
Built-in manager room and meeting room
Most of the premium serviced offices located in Central offer private office space fitted with built-in manager room(s) to be SFC compliant as well as built-in meeting rooms to ensure privacy for their tenants. The classroom layout stereotype is behind us as they now provide spacious and modulable private offices.
Dedicated entrance
In some centers, operators offer to their tenants a dedicated office entrance with direct access to the lift lobby. By choosing this type of office space, the client gets access to all the perks of being located in a serviced office while having their own private office that gives a traditional office feeling at the same time.
Server room and other IT requirements
Serviced office operators are offering a wide range of IT services to cater SFC requirements. They offer dedicated land ports, dedicated phone lines, internet lines, single IP address, lockable SFC compliant server racks, high-speed wifi, and conference equipment. You name it; they have it.
Flexibility is essential when talking about office lease in Hong Kong. Standard contract terms are either 2 or 3 years fixed that the tenant can renew if they decide to stay longer in their office space. However, committing for a 2 or 3 years lease is challenging for companies experiencing high growth or downsize as they end up stuck in an office that is either too small or too expensive.
That is the reason why serviced offices are the best office options to consider when looking for more flexibility. From 3 months to 1-year contract, this is the ideal solution to navigate with peace of mind during uncertain times.
Enterprise solution
Companies can also explore the Enterprise Solution services offered by some major players such as The Executive Centre, IWG, and WeWork. The tenant can choose his own traditional office space in a Grade A building (from 2,000 sq.ft or more), have an operator decorating it and sign a one year lease only without having to spend in CAPEX.
Renting a serviced office can save the company up to 60% every year
Read this article to better understand the cost savings incurred when using a serviced office versus a traditional office in Hong Kong’s major Financial District – Central.
If you are willing to explore using a serviced office instead of renewing your lease within your current location, you can get in touch with us today to discuss your requirement further. We know which service office can fit your need, so we save you time and effort for your research. We also arrange visits and negotiate on your behalf. This service is free of charge for our clients.
Bastien Cuny