Will Serviced Office Thrive Post-Pandemic?
The serviced office industry has history of doing well in uncertain climates such as dot com crash, global financial crisis, Brexit and more recently the pandemic. Let’s figure out the factors of this inverse growth of this sector.
The main reason is simple – business flexibility. Especially in downturn, business owners including MNCs are less willing to risk entering into long term lease. While working from home is a new norm or mandatory requirement (temporary), the vacant spaces of workplace are not utilised yet owners are liable to rental. Some businesses might grow under the pandemic such as e-commerce stores, serviced office is a good option to expand the team at minimal risk and OPEX.
The advantages of serviced office over traditional leased office:
Quick entry and exit – Flexible plans are designed to fit different business requirements and move in and out at short notice
Comprehensive fit-out – Serviced offices are fully furnished with quality and ergonomic equipments at corporate standard
Chores helper – Hassle-free working environment while utilities, cleaning and other maintenance are included
Community network – Providing great networking opportunities as other businesses are working under the same roof
Cost effective – An affordable workspace at strategic location with comprehensive facilities and amenities
The pandemic is expected to have a lasting impact on workplace thus the serviced office could emerge from pandemic stronger than ever. On another hand, traditional leases are likely to fall out of favour unless they evolve into a more flexible solution. How do you think about serviced office?
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