Sunday, November 13, 2011

Furnished Office Spaces

In addition to location, as well-designed office can make all the difference; the address, along with the interior decoration, can have a powerful impact on your company's image.
As buying office space is an expensive proposition for many companies, renting remains a preferred choice. Furthermore, for smaller enterprises and business concerns, investing in office furniture can be daunting especially in terms of cost and the amount of time spent on construction and design.
As a result, the trend of renting furnished and fully-equipped office spaces (with lighting, furniture, generators, ACs, PABX systems, fax machines and computers) has gained traction.
Rental rates for furnished office spaces are 25 to 30% higher than unfurnished offices and there is usually limited or no flexibility to adapt and change the interiors. Despite these drawbacks, there are many benefits to renting furnished offices.
These include:
  • A ready to occupy, furnished space is a hassle-free way to get a business up and running within a short span of time.
  • It is an ideal solution for new and/or small businesses that have limited funds and want to avoid spending money on furniture and decor.
  • Most furnished office spaces located within purpose-built office blocks provide shared amenities, including a reception, meeting foyers, boardrooms, lunch rooms, kitchenettes, security and restrooms.
  • Relocating a business becomes easier without the logistical worries of moving furniture and equipment from one site to another.
  • Professionally designed office spaces have floor plans that are conductive to productivity and enahnce the work flow.
The monthly rental rates, in rupees per square foot, of furnished offices in Karachi, Lahore and Islamabad are as follows:
City       Budget     Mid range  Premium
Karachi  90-115     120-200      250-500
Lahore    89-113    117-195      234-449
Islamabad 93-109   136-195      214-468

NB: Commercial property Rating
Premium: Office space ranging from 500-2,000+ sq ft;
Mid range: Office space ranging from 300-500 sq ft;
Budget: Office space below 300 sq ft.