Office Rental Singapore helps you rent and buy office that suit your requirements
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Type of Business Space For Rent / Lease in Singapore
Office space for lease in Singapore
Grade A Office
A Grade A office in Singapore is basically an office space in newly constructed or refurbished office buildings located in the central Business District (CBD) of Singapore. But not all refurbished and new office buildings in the Singapore CBD are Grade A office buildings. Grade A office buildings in Singapore are usually tall and bold with a large lobby and state-of-the-art security, and tenants will be provided with an covered parking facility and sometimes with in-house access to a food court, childcare, fitness centre and other amenities.
These buildings are professionally managed with tenants of MNCs and large corporations carefully selected. The office spaces in Grade A office buildings are oversized with large windows, raised floor system, premium floor to ceiling height and wide columns or sometimes even column free.
These building also feature the highest quality tenants and are a notch above Grade B buildings, which are generally older and lack the amenities Grade A offices provide.
In addition, Grade A office buildings are most commonly found in the Singapore CBD where most MNCs and large corporations are housed. They are also available in locations like Beach Road and Marina Centre. In recent years, the Singapore government has launched its land use plan to decentralize commercial activities outside the Singapore CBD to ease traffic congestion, meaning new Grade A office buildings are now available in the Jurong Lake District, Bouna Vista, and Paya Lebar.
Industrial Property B1 & B2Â
Industrial B1 (Business 1)
B1 industrial properties are clean or light industrial properties which are suitable for clean and light trades which are involved in light manufacturing activities. For B1 industrial properties, the relevant authority such as National Environment Agency does not impose nuisance buffers of more than 50 metres between residential areas. Based on NEA’s guidelines, the nuisance buffer requirement between residential areas are 0 metre buffer for clean industries and 50 metres buffer for light industries.
Some Examples of B1 Industrial Trades
- Banking
- Pharmaceutical
- Information Technology
- Engineering services
- Â Industrial Training
- Software developers
- Distributors
- Repair and assembly of electronics
- Publication and printing trades
- Packing of dried food products
- Warehousing but not for dangerous goods such as chemicals
- E-Business Activities
- Telecommunications
- Data Farm/Data Centre
- Internet Service Provider
- Software Development
- Call Centre
- Core Media
- Pre-production
- Production
- Network Programming
- Post-production and Distribution
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Industrial B2 (Business 2)
B2 industrial properties are suitable for businesses with heavier manufacturing and production. For B2 industrial properties, the relevant authority such as National Environment Agency may impose a nuisance buffer of more than 50m nuisance buffer between residential areas. For general industrial properties, the buffer may be 100m while for special industrial properties, it is best to consult NEA or the relevant authorities. This is also a form of pollution control as heavy production activities may cause some form of pollution whether noise pollution or air pollution which is why you notice that B2 industrial properties are usually located further away from residential properties.
Some Examples of B2 Industrial Trades
- Biotech related trades
- Production of electrical products and equipment
- Servicing and repair for vehicles
- Production of furniture
- Warehousing
What is the Main Difference
As we know from the pollution control guidelines, generally B1 industrial clean and light properties can be located closer to residential properties as the buffer between residential properties range between 0 to 50 metres while for B2 industrial the nuisance buffers can be more than 50 metres. This is why we sometimes see B1 industrial located near or opposite residential housing areas while B2 industrial are usually located further away from residential housing areas.
For allowable trades in B1 industrial properties, such as the examples given above, they are usually clean and light businesses which do not involve heavy production which may cause noise or air pollution whereas for B2 industrial, heavy production such as carpentry may be allowed. A good example of a B2 industrial area would be Tuas where many B2 industrial properties can be seen around. Many of the companies operating in Tuas also have manufacturing and production plants located in this area as these factories or warehouses are zoned B2 industrial properties where production and manufacturing activities are allowed. Trades that are allowed in B1 industrial properties are usually also allowed in B2 industrial properties as long as your company’s day-to-day operations are not affected by the working environment. We sometimes also see re-zoning in certain industrial sites (i.e a B1 industrial site that has been re-zoned to be a B2 industrial site. To check on the latest land zoning, you may refer to URA master plan on your computer or download the master plan application on your mobile or tablet to check.
Why Knowing the Difference is Important
It is important to know the difference between B1 and B2 industrial properties as businesses usually want to be in suitable areas where they can operate their businesses comfortably for the long term. For example if you are involved distribution of dried food products, operating in a B2 industrial area with vehicle workshops may not be the most ideal. A B1 industrial property may be more suitable for dried food distribution trades. There are also some industrial developments where certain uses are not allowed. For example, for certain developments, manufacturing and storage of antibiotics, concrete batching, pre-casting, secondary factory-converted dormitory are not allowed as advised by the authorities. Also, for industrial properties, subject to change of use to childcare or showrooms may sometimes be allowed but will be subject to approval by the relevant authorities. Development charge may apply for certain change of use.
Office Rental Singapore Rates Guide By District
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When looking for an office space in Singapore, office rental cost is often a huge deciding factor. Singapore Office rental rates vary significantly between districts and even locations within the same district, particularly in Singapore CBD, so it can be difficult to know how much you should be paying when come to office leasing in Singapore. This Singapore Office Rental Rates Guide provides businesses an idea of the average rent of office space in each district helping businesses narrow down the areas they should be focusing with their rental budget.
How Is Office Rental In Singapore Calculated?
Office rental in Singapore commercial real estate agents will quote you the rent in per square foot per month. If you enquire for an office space of 5,000 square feet, the office leasing agent may tell you that the office rental rate is $11.00 per square foot per month instead of $55,000 per month.
Why is that so? The landlord may consider subdividing the space to a smaller floor area if you do not need that much space or amalgamate two or even multiple adjoining office units into one large office space to meet your needs.
That is why when come to office rental, tenant is charged per square foot per month depending on the floor area acquired. So, the rent is calculated by taking the rental rate (i.e. per square foot per month) multiplying the total floor area of your rental space. That gives you the monthly rent.
What Are The Office Rental Rates In Singapore?
The office rental rates varies between buildings, locations and districts. According to data released by the authority, in the first 3 months of 2021, the median rent for a traditional office space in Singapore were between $2.51 and $13 per square foot per month with a total of 665 leases concluded.
The number of office leases rose by 10.46% in Q1 of 2021 compare to the last quarter in 2020. The latest transaction data also represent a 1% decrease from the same period last year.
The most affordable locations for rental office space in Singapore are Little India in District 08, Bugis in District 07, and Bukit Timah in District 21. At the other end of the scale, the most expensive areas include grade A office buildings in Marina Bay, Raffles Place and Marina Centre of District 01, where the median office rental rates reach $11.88, $8.69 and $9.78 per square foot per month respectively.
Within the Singapore CBD, there are areas where you can secure an affordable office lease. While Raffles Place and Marina Bay new financial district remain the most expensive office areas, you can find great deals in Tanjong Pagar and Cecil Street.
Apart from location, there are a number of other factors that affect office leasing rate in Singapore, including age and maintenance of building (i.e. grade A, grade B and grade C buildings), specifications of office space, size of office space, tenant mix in the building and available amenities.
Not sure about the differences between grade A, grade B and grade C buildings? What about the ideal floor area and lease term, and the rental rates of each building? To better understand the complexities of the office space rental proces. Let us recommend our top office real estate agent Vincent 93799993 to assist you.
Singapore Office Rental Rates Across 28 Districts
The table below shows the median office rental rates in term of per square foot per month across the 28 districts in Singapore.
Singapore district code was originally used as postal districts but have been widely used by real estate professionals and property seekers when referring to a location or an area.
District 01 and 02 have the highest concentration of office buildings in Singapore. The Singapore CBD is also found at the southern part of District 01 and South Eastern part of District 02.