Office Space In Raffles Place: What Are Your Options?
As the earliest commercial hub in Singapore, Raffles Place is one of the most prestigious business locations in the republic. In fact, it houses some of the tallest buildings and famous landmarks here.
Situated on the southwest side of the Singapore River, it is the country’s traditional commercial district. Raffles Place is a popular office rental area due to its status as the heart of the country’s financial district, with many major banks calling it home. Given its status and prestige, many companies and entrepreneurs aspire to set up an office there. In short, Raffles Place office space are highly coveted.
Consider Renting An Office in Raffles Place?
With a plethora of excellent workspace options available, you will be spoilt for choice when searching for Raffles Place office space rentals. Renting an office space in Raffles Place is also no easy feat.
Rental offices in Raffles Place come in different sizes, configuration, and prices. There’s also a large variety of office buildings to choose from, each with different attributes and amenities, such as proximity to public transport, good eateries, banks, and high-end hotels.
There are exceptional premises offering great features, but expect that these would come with hefty rental rates as well, especially newer and recently completed office buildings. Another expensive but sought-after option are workspaces with biophilic design features that take into account the health and well-being of the occupants.
For entrepreneurs and businesses with limited budgets, it’s still possible to secure an affordable office space in Raffles Place, but you will likely need to lower your demands and expectations.
Office Space in Raffles Place, here Are your Options
To help you save time on your workspace hunt in Raffles Place, we curated 8 of the most popular office buildings there. All are located within Singapore’s central business district (CBD) and all come with Grade A specification.
Located along 88 Market Street, this 51-storey mixed-use skyscraper features 29 floors of Grade A office space, with the usual floor plate measuring from 22,200 sq ft to 23,300 sq ft. Completed by the second half of 2021, the tower is touted as a green oasis as it will come with 4 floors of social and activity spaces filled with trees and greenery.
This 43-storey building in 10 Collyer Quay comes with more than 876,000 sq ft of premium Grade A office space, with spacious column-free floor plates typically spanning between 20,000 sq ft and 25,000 sq ft. The commercial property received its temporary occupation permit (TOP) in 2011 and is also a recipient of BCA’s Green Mark Platinum Award thanks to its many eco-friendly features.
Known as one of Singapore’s tallest buildings, this commercial property comprises a 6-storey shopping mall and a pair of office towers. The 62-storey Tower 1 has a usual floor plate of about 9,000 sq ft, while the 38-storey Tower 2 has a bigger floor plate of roughly 11,000 sq ft. The shorter of the two was completed in 2011, while the other was built in 1986.
Another towering edifice in Singapore is Republic Plaza, a 66-storey skyscraper where one can also find high-quality office space that provides breath-taking views over the city. With a typical floor plate of 8,100 sq ft 15,000 sq ft, tenants get to enjoy a column-free configuration and underfloor trunking system. While the office tower was completed in 1996, it underwent extensive refurbishment and incorporated smart features.
This 42-storey Grade A office building is a famed downtown landmark that offers 494,341 sq ft of NLA, with floor plates ranging from 10,550 sq ft to 12,700 sq ft. Although the commercial property was finished in 1984, it underwent extensive improvements that made it the first operating building in the CBD to be conferred with BCA’s Green Mark Platinum certification.
Previously called the Straits Trading Building, this 28-storey Grade A office block comes with 19 floors of office space with an overall NLA of about 154,718 sq ft. Tenants love its column-free office layout and 2 open air sky gardens, which is perfect for relaxing. This commercial property is fairly new as it was built in 2009. It also clinched a Green Mark Gold accolade in 2019.
Another 28-storey Grade A office block is the PLUS building, which is easily recognised by its eye-catching curved-glass exterior. Apart from having a retail podium on the first 2 floors, it also features a sheltered drop-off plaza, a stylish entrance lobby with concierge services, and spacious floor plates spanning up to 10,000 sq ft. This commercial property was finished in 2016, and its occupants like its superb finishes and full-height windows.
This 47-storey commercial property is ideal for businesses that require convenient access to financial firms as its ground floor contains retail banking halls. The premium office tower’s usual floor plates measure around 14,000 sq ft. Although the building was completed in 1980, it underwent an extensive renovation in 2003.
Raffles Place Office Rental Rates
In Raffles Place, there are offices for rent catering to a wide array of tenants, including established and discerning clients looking for top-notch workspace in a bid to attract and retain talent, in addition to securing a respectable and prestigious address. In particular, all of the aforementioned 8 office developments fit this criteria, and the rents of such Grade A office space range from S$10 to S$13 psf per month.
On the other hand, price-conscious would-be occupants like startups can still find affordable offices in Raffles Place, with rental rates ranging between S$6.50 and $9.00 psf per month. However, these less expensive workspaces tend to have lower quality and may have fewer amenities and features.
Notable Companies Renting Raffles Place Office Space
A testament to the attractiveness of locating a business in Raffles Place is the numerous major corporations that have established a presence in the area, or have announced plans to do so. For instance, JP Morgan has agreed to be an anchor tenant at the highly-anticipated CapitaSpring office tower. Specifically, the multinational investment bank and financial services provider will lease 7 floors there from level 24 to the 30th floor.
For completed office buildings, the Ocean Financial Centre houses multinational banks ANZ and BNP Paribas. Top fintech firm CMC Markets Singapore Pte Ltd is headquartered in Republic Plaza. Global law firm Mayer Brown and multinational bank Standard Chartered are major lessees at Six Battery Road. Lastly, one of the republic’s most established legal practices, Lee & Lee, is an important tenant at Singapore Land Tower.
Discover Your Raffles Place Office Rental Options With an Expert
Time is gold. Executives and business owners surely have first-hand experience with this saying.
Given that your time can be better spent on something that brings in more money or spending quality time with your loved ones, why not get the help of an expert in searching and leasing an office in Raffles Place.
With the aid of an office connoisseur – who are more familiar with the area and have transacted with numerous landlords – taking a lease in Raffles Place can be a breeze, as your agent will do all of the hard work of finding an office space that meets your requirements in terms of size, layout, amenities, and building quality.
So, if you want to make your office search in Raffles Place hassle-free, please don't hesitate to leave us a message and we’ll refer you to a veteran commercial property agent.