As we approach the 21st century of work, enhancing your business models becomes imperative to maintain your competitive edge. Your office space in Sydney is pivotal in this endeavour, impacting your standing in the market.
You risk falling behind if your office space doesn’t align with your business requirements. Therefore, it’s crucial to meticulously choose an office space that meets your business needs and goals, bolstering your overall presence in the market.
Read our guide below to better understand the selection and process of acquiring the perfect workspace for your business.
Office Space Occupancy Report in Sydney
Despite the unprecedented COVID-19 pandemic, the occupancy rate of office space in Sydney remains high. According to a report by CBRE, Sydney CBD recorded a remarkable 75% office occupancy during an average day and 83% during peak days in Quarter 3 of 2023.
Here is an overview of the office occupancy report of top-performing cities in Australia:
Data from CBRE
Based on the report, Sydney, tied with Brisbane, ranked third among the cities in Australia with the highest office occupancy rate. Perth and Adelaide secured the top spots, claiming first and second places, respectively. Meanwhile, Melbourne lagged behind, making it the city with the lowest office occupancy rate.
3 Key Advantages of Office Spaces
Leasing an office space in Sydney offers many advantages for businesses of all sizes.
Firstly, having an office in Sydney places businesses in the heart of a vibrant central business district. This prime location enables businesses, especially solopreneurs and freelancers, to widen their professional networks. Additionally, it provides convenience for commuting employees by offering easy access to public transportation terminals, reducing the stress of bumper-to-bumper traffic.
Moreover, an office space in Sydney helps reduce overall workspace costs by offering a fully furnished and equipped workspace. Amenities typically comprise high-speed internet, meeting rooms, collaborative spaces, business support services, shared kitchens, and more. These office amenities are valuable as they make your employees’ workplace experience worthwhile.
These spaces also frequently host business events or conferences. You can leverage such events to meet new people, cultivate relationships, and unlock potential partnerships. Such events also offer valuable opportunities for your workforce to learn new skills and knowledge from esteemed leaders in your industry.
How do you find the ideal office space for your business in Sydney?
Sydney is home to a wide variety of top-notch office spaces. However, finding the perfect one for your business can be daunting if you’re unaware of the factors you should consider.
Don’t worry! We have prepared a step-by-step guide for you below highlighting the factors to consider when choosing an office space in Sydney for your business.
Step 1: Identify your business requirements, including the size, layout, and budget. This will help you create an effective plan and avoid falling into unwanted business traps.
Step 2: Look for the perfect location for your business. Ensure you’re situated within a district with similar industries or a community with an active market and easy accessibility for commuting employees.
Step 3: Consider the office amenities. Does the office space in Sydney you’re considering offer the technologies, facilities, and amenities you need for your business operations? If not, explore other alternatives.
Step 4: Visit the location in person to personally assess the aesthetics and functionality of the workspace. You may also spend some time speaking with the current tenants or browsing an online review for an in-depth understanding of your chosen workspace.
Step 5: Once satisfied, carefully review the terms and conditions of the contract. If needed, seek assistance from a real estate lawyer for professional advice.
Choosing the ideal office space in Sydney requires careful consideration to avoid making wrong decisions. This step-by-step guide can help you make an informed decision and select the perfect office space to revolutionize your business.
The 21st century has led to a work revolution. You can easily navigate Sydney’s business economy like a pro with the right office space. So, choose your office space today and embrace a new era of work for your business. The choice is yours!
