Guide to Renting Office Space in Raffles Place
Raffles Place: The Heart of Singapore’s CBD
Raffles Place, often dubbed the heart of Singapore’s Central Business District (CBD), is a prime location that commands attention in the world of office rentals. This bustling area, also known as the financial hub of the city, boasts one of the highest concentrations of office buildings in the CBD. With a growing demand for office space, especially from multinational corporations (MNCs), Raffles Place has become a sought-after destination for businesses looking to establish a prestigious presence in the city.
Rising Tall in Raffles Place
As the financial core of Singapore, Raffles Place is home to some of the city’s tallest buildings and iconic landmarks. Notably, the four tallest office buildings in Raffles Place are CapitaSpring, One Raffles Place Tower 1, Republic Plaza, and UOB Plaza I. Each of these towering structures stands at an impressive height of 280 meters and ranks 123rd among the world’s tallest buildings. With such a towering backdrop, businesses in Raffles Place enjoy not only the prestige of a prime CBD location but also awe-inspiring views.
Office Space in Raffles Place; What Are Your options?
Raffles Place is widely recognized for its sought-after office rentals, and it presents a diverse array of choices to accommodate businesses with different budgets and space needs. With rental rates commencing at $6.00 per square foot in smaller buildings, finding suitable office space in Raffles Place is feasible for businesses of all sizes in this dynamic district.
For those seeking office space with a corporate image, Raffles Place boasts several grade A buildings, including Ocean Financial Centre, Six Battery Road, One Raffles Place, Bank of Singapore Centre, MYP Centre, PLUS, Singapore Land Tower, 30 Raffles Place, and Republic Plaza.
Additionally, there are numerous serviced offices and coworking spaces in Raffles Place for those who prefer flexibility and convenience. These spaces come complete with essential office facilities and support services.
Scenic Office Spaces by the Singapore River
At the north end of Raffles Place lies the Singapore River, offering scenic views that can enhance your work environment. Battery Road, one of the main streets in Raffles Place, is lined with office buildings overlooking the river. However, if these offices are beyond your budget, consider exploring the nearby Boat Quay area. Boat Quay offers shophouse offices with excellent views of the river at affordable rates, making it a cost-effective option for businesses in search of inspiring office spaces.
Seamless Access: Raffles Place MRT Offices
Located underground at the heart of Raffles Place’s commercial hub is the Raffles Place MRT station. This interchange connects the East-West Line and North-South Line and comprises ten exits with underground links to major office buildings in the vicinity. Furthermore, offices in Raffles Place are within a 10-minute walk of five other MRT stations, including Chinatown, Downtown, Telok Ayer, Shenton Way, and Marina Bay. This proximity to multiple MRT stations offers tenants and employees of Raffles Place offices unparalleled convenience when commuting to work.
Numerous prominent office buildings in Raffles Place boast direct connections or covered walkways to the Raffles Place MRT station. Notable among these are Ocean Financial Centre, Republic Plaza, One Raffles Place, Singapore Land Tower, 6 Battery Road, PLUS, 20 Collyer Quay, Bank of Singapore, and The Arcade. The convenience of these buildings lies in their direct links and sheltered pathways to the MRT station, providing a professional advantage by ensuring employees remain dry during inclement weather.
Understanding Raffles Place Office Rental Rates
Office rental rates in Raffles Place are a reflection of the area’s prestige and amenities. Rates typically range from $6.00 to $14.00 per square foot, depending on factors such as building architecture, tenant profile, office views, and the building’s address. While these rates may be on the higher side, the advantages of a Raffles Place office address can far outweigh the costs.
Let’s examine the office rental rates for buildings in Raffles Place.
Raffles Place Office Rental Rates
The rental rates provided in the table above encompass the service charge for building maintenance. Generally, rents are open to negotiation. The ultimate negotiated rent is additionally subject to Goods and Services Tax.
Updated on 27 November 2023
Most Sought-After Office Buildings in Raffles Place
The key reasons most businesses choose to rent an office in Raffles Place are its prestigious address, excellent transport connectivity, and vibrant commercial environment. Businesses aim to leverage this location to attract top talent and foster business growth in Singapore. To help you in your search, here’s a list of some of the most sought-after office buildings in Raffles Place:
This list of Raffles Place’s prominent office buildings is not arranged in any particular order of popularity. It’s simply a roundup of significant office buildings in the area.
A grade A office building located above Raffles MRT station, completed in 2011 with 43 floors.
One of the tallest office buildings in Raffles Place, with 66 floors and a direct connection to Raffles MRT station via Exit D.
3. MYP Centre
Redeveloped in 2009, this grade A office building features 28 floors and open terraces, accessible via Exit B of the Raffles MRT station.
A premium office building with 22 floors, completed major refurbishment works in 2011, easily accessible via Exit A of the Raffles MRT station.
Offering panoramic views of the Singapore skyline, it comprises twin office towers of 62 and 38 floors, accessible via Exit B of Raffles MRT station.
Formerly known as Chevron House, this 33-floor building completed a major refurbishment in 2020.
A 44-storey office building completed a major refurbishment in 2021-2023, transforming it into a modern grade A skyscraper at Raffles Place.
A newly refurbished office building, directly sheltered to Raffles Place MRT station.
Offers unobstructed views of the city skyline, attracting many MNCs after major refurbishment in 2013.
Utilize a Professional Commercial Real Estate Agent
In conclusion, while renting office space in Raffles Place offers numerous benefits, it’s essential to make an informed decision that aligns with your business objectives and budget. The guidance of a professional commercial real estate agent can be invaluable in navigating this competitive real estate market. An experienced agent can help you find the right office space at the best rental rate in Raffles Place, ensuring that your business thrives in this prestigious location. Don’t hesitate to reach out to a dedicated expert who understands the intricacies of Raffles Place’s office rental landscape and can guide you towards making the perfect choice for your business.
“We’re here to connect you with a specialized commercial real estate agent who excels in helping businesses find their ideal office space in Raffles Place. Click here to receive a complimentary recommendation tailored to your needs.”
Frequently Asked Questions (FAQ
We understand that seeking office space in Raffles Place is a significant decision, and you likely have questions about this prime business district. In this FAQ section, we’ve compiled answers to the five most commonly asked questions to provide you with essential information on renting office space in Raffles Place. Whether you’re interested in costs, office building options, or the benefits of this location, we’ve got you covered.
1. What is the average cost of renting office space in Raffles Place?
The cost of renting office space in Raffles Place can vary based on factors such as building class, location within the area, and specific amenities offered. On average, rental rates typically range from $8.50 to $14.00 per square foot. These rates reflect the prestige and convenience of a Raffles Place office address.
2. Are there flexible office space options, such as serviced offices or coworking spaces, in Raffles Place?
Yes, Raffles Place offers a range of flexible office space options, including serviced offices and coworking spaces. These options are ideal for businesses that prefer not to commit to long-term leases. They come complete with essential office facilities and support services, providing convenience and flexibility to tenants.
3. What are the most sought-after office buildings in Raffles Place, and why?
Some of the most sought-after office buildings in Raffles Place include Ocean Financial Centre, Republic Plaza, MYP Centre, Bank of Singapore Centre, One Raffles Place, 30 Raffles Place, Singapore Land Tower, PLUS, and Six Battery Road. These buildings are highly regarded for their prestigious addresses, excellent transport connectivity, and vibrant business environment.
4. How can I benefit from renting an office in Raffles Place?
Renting an office in Raffles Place offers numerous advantages, such as proximity to major financial institutions, a prestigious address that can attract top talent, world-class dining options, and unrivaled connectivity via public transportation. Being at the heart of Singapore’s CBD, Raffles Place provides a thriving and influential business environment.
5. Which office buildings in Raffles Place offer direct sheltered access to the Raffles Place MRT station?
Several office buildings in Raffles Place provide convenient sheltered access to the Raffles Place MRT station, enhancing the commuting experience for tenants. Some of these buildings include Ocean Financial Centre, One Raffles Place, Republic Plaza, Singapore Land Tower, Six Battery Road, PLUS, Bank of Singapore Centre, 30 Raffles Place, 16 Collyer Quay, 20 Collyer Quay, and others. This feature ensures that you and your employees can easily navigate the district, even in inclement weather, by using the underground links and sheltered walkways to access the MRT station.
6. Why should I consider using a professional commercial real estate agent to find office space in Raffles Place?
Utilizing the services of a professional commercial real estate agent can be highly beneficial when seeking office space in Raffles Place. These agents have in-depth knowledge of the local real estate market, a network of industry contacts, and the expertise to guide you towards finding the right office space at the best rental rate. They can save you time, help you navigate the competitive real estate landscape, and ensure your business thrives in this prestigious location.
7. Do I have to pay an agency fee for using the service of a commercial real estate expert?
No, tenants do not have to pay an agency fee when engaging the services of a commercial real estate agent to find office space in Raffles Place. These experts are typically compensated by the landlord or the landlord’s agent, making it a cost-free service for tenants. With this advantageous and free service at your disposal, it’s a no-brainer to utilize the expertise of a professional when seeking the perfect office space in Raffles Place.
We hope this FAQ section has been informative and helpful in addressing some of the key inquiries you may have about renting office space in Raffles Place. Making the right decision for your business is crucial, and we encourage you to explore the wealth of opportunities this iconic district offers. If you have further questions or require personalized assistance, don’t hesitate to reach out to a professional commercial real estate agent who can provide tailored guidance to meet your specific needs. Your journey to finding the perfect office space in Raffles Place begins here.