What is a Serviced Office?

Following the ever-changing trend of the global economy, many businesses are drawn to the idea of flexible leases that enable a more agile approach. Hong Kong is no exception. Known for its competitive rental market, this city has recently seen a significant rise in demand for serviced offices. The flexibility these spaces offer is particularly appealing. Serviced offices not only provide a ready-to-use space equipped with work essentials, including high-speed internet, fully furnished rooms and communal areas, but also support remote working, making them ideal as satellite offices in a changing world.

What is a Serviced Office?

A serviced office is a fully furnished and ready-to-use office space in central locations with flexible rental options. Managed by an operator, serviced offices provide an all-inclusive monthly bill covering the rent of the space occupied, Wi-Fi, reception staff, cleaning, and access to shared facilities like printers and meeting rooms. When compared to coworking spaces, which often provide shared, collaborative work areas to individuals or small teams, serviced offices focus on creating an exclusive and professional environment for businesses of all sizes, without the overheads of setting up a new office.

What is Included in a Serviced Office?

For businesses seeking a hassle-free workspace solution, serviced offices stand out with their all-inclusive offering. Their plug-and-play work environment reduces the hassle of setting up a new office. Standard amenities such as utilities, internet connection, printing and scanning, manned reception and security.

Serviced offices like Compass Offices go above and beyond with the following extra perks:

24/7 secure access
High-speed internet connection, both wired and wireless
Fully furnished workstations with storage
Functional meeting rooms and conference facilities
Breakout spaces for collaboration
Shared kitchen with complimentary beverages
On-site admin and IT support, including mail-handling
Cleaning and office maintenance
Phone services, including dedicated phone lines and answering service
Access to exclusive member events like workshops, guest talks, seminars
Exclusive member discounts and perks

While the exact offerings may vary depending on the provider and the package selected, in general, serviced office packages from premium providers like Compass Offices cover everything from basic needs, such as furniture, to additional benefits like prestigious addresses in Grade A buildings in central business districts (CBD). This allows companies to focus on their growth and leave operational details to the experts.

What are the Advantages of Serviced Offices?

With serviced offices, businesses can benefit from strategic locations, flexible rental terms, ready-to-use workspaces, and cost savings compared to traditional leases.

Offices in CBD and Prime Locations

Many serviced offices strategically position their locations within CBDs to offer tenants prime positioning. A well-known address in Grade A buildings not only enhances a business's professional image but also positions it close to potential partners and clients. In Hong Kong, Compass Offices are centrally located in Admiralty, Causeway Bay, Central, North Point, Sheung Wan, and Tsim Sha Tsui. Frequent travellers can also benefit from access to international prime addresses, ensuring they're always in the heart of major cities for meet-ups and collaborations.

Flexibility in Rental Terms

One of the biggest advantages of a serviced office is its flexible contracts, with options like Compass Offices starting from as short as a one-month lease. In contrast to the fixed leases found in traditional offices, this flexibility allows businesses to upsize or downsize with ease. This is especially ideal for start-ups and growing enterprises seeking to navigate the dynamic business landscape without long-term commitment.

Fully Furnished and Equipped Spaces

Another advantage is that serviced offices are fully furnished and equipped, ready for immediate use. This arrangement extensively reduces the typical downtime associated with office relocations and fit-outs, helping businesses to maintain productivity. It also reduces initial expenses and simplifies the process of building a new office.

Cost-Effectiveness

Compared to conventional rentals, serviced offices are more cost-effective since you only pay for the space and services they need, with a comprehensive price structure and no hidden cost. On top of that, access to shared amenities help you save on upfront investment, as well as the unexpected maintenance costs and managerial headaches.

How Do Serviced Offices Work?

Choosing the right serviced office should be straightforward: understanding the leasing process, the types of spaces on the market, customisation options allowed within the space, and the terms of flexibility can help speed up the process.

Leasing Process

If you're looking for a serviced office in Hong Kong, start by choosing a prime CBD location, focusing on accessibility, local amenities, and proximity to your target market. Next, select the size and layout of your office space. Depends on your operational style, choose from open-plan layouts to one with dedicated manager’s rooms. Visit the spaces in person for a true feel. Once you’ve made your choice, the serviced office provider will draft an agreement for you. Upon signing, you're all set to move into your new office space!

Types of Spaces Available

In a serviced office, you can find private offices for teams seeking confidentiality, communal areas for casual meetings and networking, meeting rooms for everything from brainstorming sessions to client discussions, and occasionally, dedicated desks for individuals or small teams.

Customisation Options

Pick from a range of layout designs, workstation configurations, and technology setups to create a workspace that reflects your brand identity and fulfills your functional needs. Some providers also allow further customisations, such as wall colours.

Flexibility And Scalability

Understanding your evolving needs, serviced offices allow companies to easily upscale or downscale their office space according to business performance and team size, without the burdens of long-term commitments and financial pressures. Read the agreement carefully to confirm it can accommodate your growing needs.

Which Types of Business Use Serviced Offices?

Serviced offices in Hong Kong are highly versatile, benefiting a wide range of businesses.

Freelancers and solo entrepreneurs find these spaces perfect for escaping the distractions from home, while startups and SMEs appreciate the low setup costs and flexible terms that support rapid growth.

Large, multinational corporations utilise serviced offices not only for the benefits they provide, but also as professional satellite workspaces during expansion phases, promising a smooth transition into new markets without the hassle of long-term commitments.

Meanwhile, project-based teams benefit from the adaptability of short lease agreements. Overall, serviced office spaces provide a comprehensive workspace solution for companies, allowing them to focus on innovation and growth without the operational burdens.

What's the Differences with Other Workspaces?

Alongside serviced offices, many other types of flexible workspaces are available on the market. Here's a comparison of serviced offices with other common workspaces, coworking spaces, and traditional offices.

Serviced Offices vs Co-working Spaces

Serviced offices, with their private, well-equipped workspaces, offer an exclusive environment tailored to your business needs. In contrast, coworking spaces promote collaboration and networking in an open-plan setting, featuring dedicated desks and shared amenities with fellow members.
While both options provide flexibility, serviced offices are often seen as a better choice for those prioritising a professional image, especially when meeting clients. They also come with a comprehensive package of services, minimising overhead costs. For those seeking cost-effective, private workspace with a full range of amenities, serviced offices stand out as the superior option.

Serviced Offices vs Traditional Offices

Traditional offices require companies to manage the workspace themselves, including the setup and renovation of the office, maintenance, cleaning, and security. Serviced offices, on the other hand, distinguish themselves by being move-in ready and hassle-free, incorporating reception services, IT support, and a variety of amenities within a single monthly fee. This model also provides unmatched flexibility to scale as needed, unlike conventional offices, which typically involve time-consuming setups and additional costs for fit-outs and furnishings. The ability to start operations almost instantly makes serviced offices a preferred choice to traditional offices.

Serviced offices two months rent free promotion

How To Get Started?

Hong Kong has been the home of Compass Office since 2009, providing flexibility and tailored solutions for businesses of all sizes. Our prime locations include Grade A buildings in Admiralty, Causeway Bay, Central, North Point, Sheung Wan, and Tsim Sha Tsui in Hong Kong, as well as major cities in Asia Pacific.

On top of fully-furnished workspaces, stylish facilities, professional services and industry-leading IT infrastructure to support your needs, we offer flexible terms starting from just one month, with the option for a monthly rolling agreement. Plus, stay updated via our website and social media for promotional trial periods, including an offer of 2 months rent-free when signing up for a 12-month lease.

What is a Serviced Office?