Business
Main Menu

5 things to consider when renting office space in Yangon [170]

As Myanmar opens up politically and economically, more businesses are beginning to enter the market, in need of office space from which to operate. Hugo Slade, founder of Yangon real estate agency in Yangon Slade Property Services, gives his top five tips for finding the perfect space for you and your business.

1. What style of office suits your business?

Yangon benefits from a great variety of real estate styles, from villas to sky-scrapers and everything in between. Does your business work best in a modern, open-plan office space, or would the individual offices provided by converted houses better suit your operational style? Does architectural character trump having the latest mod-cons? This is a particularly important question now that more and more of Yangon’s heritage properties are being converted into office space.

2. Which is the best location for you and your clients?

Yangon traditionally saw legal, financial and other corporate firms congregating in Downtown, with NGOs and smaller firms based in midtown locations such as Golden Valley. However in the last year we have seen a shift, with many new office buildings being developed all over the city. As traffic continues to be a big problem in Downtown, many companies are moving into these alternative locations. As a tenant, you need to consider your priorities. Does the prominence of Downtown still matter to your business’s visibility and prestige, or would a quieter location be more practical? More remote locations can often be much cheaper, but would your clients be able to travel to you easily if you base yourself away from the major transport links?

3. Space and time

How long do you see your business needing this particular office space? Are you entering the Yangon market speculatively to begin with, with the options of withdrawal or (if things go well) expansion at the end of a trial period? If so, the usual one or more years’ rental contract for a set amount of space might not be practical for your company. One of Yangon’s many serviced office properties may be an ideal solution in such a case, as they offer short term lets and the ability to rent space on a per-desk basis. Another solution for companies dipping a toe into the Yangon market is to rent a live-work unit, which can double as both an apartment for the in-country representative and as a small office for the early days of the business, saving on the cost of taking two separate spaces.

4. Bells and whistles

Besides basic office space, what extra facilities would be useful for your business? Will you be needing meeting rooms on a daily basis, or would a building which offers communal meeting space on an hourly basis be more cost-effective for you? Is car parking a big issue for your clients and employees, or could you do without it? Will you need pantry facilities or break out rooms for your staff’s comfort? Little extras like these can have a huge impact on the over all rent a company pays, so it makes sense to decide what is and what isn’t important to your business before you begin an office search.

5. Payment terms and lease lengths

Landlords often offer lower rents, or additional free services (e.g. fit-out works, car parking, air conditioning out of office hours) if a tenant is willing to sign a lease for multiple years, or pay for a year or more’s rent upfront. Therefore consider your cashflow situation and figure out what you can do to put yourself in the strongest bargaining position.

All of these factors play a big part in dictating the type of office space your business will end up occupying. With high quality advice and support from Slade Property Services, you can weigh up your business needs, and confidently assess all the options with a full appreciation of their strengths and weaknesses. Finding an office can be a daunting task in the Yangon real estate market, but SPS will put all its resources at your disposal to source the best space for you and your business.

Verity Ramsden is a Chartered Surveyor with over 5 years of real estate industry experience in the UK and Myanmar. She joined SPS in February 2015 and heads up the Valuation and Advisory Department, providing clients with real estate consultancy on assets in Yangon, Mandalay, NayPyi Taw and beyond.

Recommended Companies

  • Burnside War Memorial Hos
    Burnside War Memorial Hos
  • PCXpert Co Inc.
    PCXpert Co Inc.
  • Local Appliance Repairs
    Local Appliance Repairs
  • Medvin Clinical Research
    Medvin Clinical Research
  • Cupertino Family Dental
    Cupertino Family Dental
  • Carrizo Plain Conservancy
    Carrizo Plain Conservancy

Trending Articles

Thermo-graphic Surveys Montreal – Certified home inspect services a must for every home buyer

Thermo-graphic Surveys Montreal – Certified home inspect services a must for every home buyer

5.0
164

 The fact is that buying a house does require the person to invest a good amount of money, rather a fortune. It can also be termed to be a worthy possession and secure the family future also. The

Tarot consultant in delhi | Tarot classes in delhi | Tarot Card readers, Delhi

Tarot consultant in delhi | Tarot classes in delhi | Tarot Card readers, Delhi

5.0
164

  "Guiding Auras is a renowned tarot card institute offer tarot card consultancy, Basic Tarot Courses, Tarot Certified Course, Tarot Professional Course, C

Document Translation, Translation India, English To Japanese Translation Services

Document Translation, Translation India, English To Japanese Translation Services

5.0
164

 Language Consultancy Services™ Pvt. Ltd. (LCS®) is ISO 9001:2008 certified for quality management systems. Established in 2005 and incorporated as Private Limited Company in 2008,

Dehradun Taxi, Dehradun Cab, Cab in Dehradun

Dehradun Taxi, Dehradun Cab, Cab in Dehradun

5.0
164

We are Dehradun taxi service supplier, who appreciate the requirements of our customers and are well-organized to help them to reach most wanted destination in a more passive manner. We are given that

Personal Injury Lawyer Tacoma Wa- Know Them

Personal Injury Lawyer Tacoma Wa- Know Them

5.0
164

 When a person causes injury to another person or to someone else’s property accidentally, the victim files charges against him or her and tries to get justice in the court of law. Personal

Advertisement

Trending ads

Delhi Hotels | Mumbai Hotels | Hyderabad Hotels

Delhi Hotels | Mumbai Hotels | Hyderabad Hotels

5.0
58

Hotels Angel searches the hotel websites directly and in real-time to ensure that you receive the latest prices and availability.

 Start Medical Transcription at Home - Free Training

Start Medical Transcription at Home - Free Training

5.0
58

    In medical transcription, you can earn salary as much you would like to with no upper limits.  You can decid how much you want earn based upon your effort, hardework and dedicatio

Fresh Onion

Fresh Onion

5.0
58

Dear Sir, We are manufactured exporter engaged in Dehydrated Onion, Onion in Vinegar (Acetic Acid) & Fresh White/Red Onion since 2003. We, partners of Nature Exports Co, are engaged in farming fr

Lands and Ploats for buying and Selling in Baroda Area

Lands and Ploats for buying and Selling in Baroda Area

5.0
58

 211AL The most desired Farm Land property in Vadodara at affordable price. The Baroda is specially established to satisfy the needs of the Investors who are interested in property, Land In Barod

Franchisee Partners for CaratLane.com

Franchisee Partners for CaratLane.com

5.0
58

BISb123CaratLane is looking for franchisee partners to build their retail business across the country. The retail model for franchisees is a unique low investment format which combines elements of

Trending Companies

Advertisement

copyrights © 2006-20 find4sites.com.   All rights reserved.