Rentals of offices in Bangkok are determined based on location, access to transport and the building quality. Most Bangkok offices are located in its CBD (Central Business District), which is made up of Silom, Sathorn, Wireless and Sukhumvit. Most multinationals have their offices in the CBD. Other offices are also available across Bangkok in its suburbs and mid-town region, but the CBD is where all the action happens.
Bangkok has 2 mass transit systems – BTS Sky Train and the MRT subway. These transit systems mainly serve Bangkok’s mid-town region and its CBD. Offices in Bangkok’s CBD are very pricey, and in demand. The occupancy rate is around 80% and offices are available across Bangkok. There are deals available at any given point in time and if you are considering leasing an office in Bangkok, then you must work with a reputed real estate brokerage firm that can help you with the legal formalities.
Bangkok office ownership
Ownership of offices in Bangkok is of two types – single-ownership or multiple-ownership. In a single ownership, one landlord constructs the high-rise and leases it out to different lessees. The landlord also is responsible for the building’s maintenance. Multiple-ownership means that different individuals have purchased office premises in a condominium, and each office owner is responsible for the upkeep of his office. The building maintenance in case of multiple ownership is managed by a committee of owners.
What to look for before leasing a Bangkok office
1. Is the floor open or does it have pillars that will hinder the division of the office in different sections?
2. Does the building have adequate central air-conditioning with climate control?
3. How many lifts in the building? Is there adequate number of lifts for each zone? Is the waiting time for lifts high?
4. How does the lobby look – average or shabby or chic?
5. Does the office have high ceilings?
6. Is there a management agency that takes care of building maintenance?
7. How accessible and convenient is the car park? Can it handle all the cars easily?
8. How much is the rent? (If the rent is very high, you can choose an office from other mid-town locations, which feature lower rentals).
Bangkok office lease terminology
Lease term: This is usually set for 3 years with an option to renew. If you want a lease term that is more than 3 years, then the lease agreement has to be registered, and that will cost more. If you’re looking for a lease term for shorter periods (a minimum of 1 month), then you must consider serviced offices in Bangkok.
Basis of measurement: The office is measured from window to core area, including columns, but excluding common areas, washrooms, and platforms, if any.
Deposit: Typically, lessees have to pay a deposit equal to 3 months’ rent. This is refundable and interest-free.
Rent-Free Fit-out Period: All lessees need time to equip rented premises with fit-outs, and it depending on the size of the office, this activity can take a month or two. Every landlord has to give a reasonable time to his tenants for equipping the office with fit-outs. No period for this period is paid.