Where to rent a Small Office Space in Melbourne
When I started my own business, the decision to rent a small office space was a game-changer. I can’t emphasize enough the significance of this strategic move. Having a physical address not only boosted our credibility but also gave us a more professional image.
What I learned through this experience is that small office spaces are often more cost-effective than their larger counterparts, which is essential for a business on a limited budget like mine. It wasn’t just about the image; it was about creating a productive environment that offered a clear separation between my work and personal life. This separation greatly improved my focus and productivity.
The right timing for renting a small office space depends on your business’s unique needs and growth stage. Having a small office space outside your home becomes essential when you need to establish a physical presence or when team collaboration and client interactions become more frequent. Moreover, for seasonal or project-based businesses, short-term leases offer the flexibility to scale up or down as needed.
Ultimately, this decision should align with your company’s objectives, budget, and growth trajectory.
How much should I budget for office space?
Budgeting for office space is a critical consideration for businesses, and a useful guideline is to allocate a portion of your budget based on a percentage of your gross sales per square foot. Ideally, you should aim to spend between 5% and 10% of your gross sales on rent per square foot. To calculate this, simply divide your annual gross sales by the total square footage of the space you’re interested in. For example, if your business is projected to generate $300,000 in annual sales and the office space you’re considering is 1,500 square feet, your sales per square foot would be $200 ($300,000 ÷ 1,500 sq ft). This method enables you to establish a budget for office space that is aligned with your business’s financial performance, ensuring that your rent remains reasonable and sustainable within your financial constraints.
What is the most common lease for office space?
The most common type of lease for office space is a gross lease. In a gross lease arrangement, the tenant typically pays a single, fixed amount, which covers various expenses such as rent, taxes, utilities, and insurance. This lease type is prevalent in commercial properties, including office spaces and retail spaces. The advantage of a gross lease is that the landlord is responsible for handling and paying property taxes, utilities, and insurance from the rent fees collected. This simplicity and predictability in cost make gross leases a popular choice for both landlords and tenants, as it reduces the administrative burden and provides a clear understanding of financial responsibilities throughout the lease term.
What is considered a small office space?
Defining what constitutes a small office space depends on the specific type and purpose of the office. A small private office typically falls within the range of 90 to 150 square feet, providing a compact yet functional workspace for an individual. In contrast, a medium private or shared office occupies a slightly larger area, usually ranging from 150 to 250 square feet, accommodating multiple occupants or offering additional space for varied uses. Open space workstations, designed for collaborative and flexible work settings, allocate approximately 60 to 110 square feet per individual, promoting interaction and productivity in a shared environment. These size guidelines help categorize what qualifies as a small office space, offering clarity on dimensions commonly associated with this classification.
BEST SMALL OFFICE SPACE FOR RENT IN MELBOURNE
STORAGE GLEN IRIS
Storage Glen Iris is a newly built facility offering office spaces for rent in a prime location, catering to businesses in Glen Iris and surrounding suburbs. This small office space for rent is particularly popular among small businesses seeking a dedicated professional setting for meetings, work displays, and team expansion. Renting an office here not only aids in separating personal and professional life but also provides a beautiful, relaxing environment for pursuing business goals. The facility’s proximity to the Monash Fwy, Glen Iris train station, and natural attractions like Glenburn Bend Park and Gardiners Creek enhance its appeal, ensuring a secure, clean, and convenient working environment for businesses in the region.
WeWork offers a range of flexible office space solutions designed to meet the needs of businesses of all sizes, from one-person startups to global Fortune-500 companies. Their office space offerings include Standard Private Offices for 1-20 people, Office Suites for 20-100 people, and Full Floor Offices for larger teams of 100 or more. WeWork’s workspaces in Melbourne provide an ideal environment for startups, established businesses, and creative entrepreneurs. These spaces are thoughtfully designed with data-driven layouts to enhance productivity and feature custom art and indoor greenery for a fresh and inspiring atmosphere. WeWork’s Melbourne locations offer convenient access to high-speed internet, printing, friendly onsite staff, business lounges, meeting rooms, and community-building events, making them a thriving hub for professionals in the city.
Office Hub provides a range of 598 office spaces available for lease in Melbourne CBD, VIC, catering to diverse budget needs. Their prices start as low as $14 per week and go up to $28,175 per week, offering flexibility for businesses seeking 1-200 desks. Melbourne CBD proves to be an excellent location, with excellent public transport options such as trams, buses, and trains for easy accessibility. Additionally, the area is brimming with cafes, restaurants, and various amenities, ensuring a vibrant and convenient work environment.
Opus Workspaces specializes in creating and managing professional serviced office spaces customized to the modern corporate workplace’s demands. Their workspaces cater to small and medium-sized businesses, allowing them to focus on their core operations while Opus handles the intricate details. Located at 200 Queen Street within Melbourne CBD’s legal precinct, Opus Workspaces offer professional, flexible, and cost-effective serviced offices and meeting spaces at a prestigious address. Their welcoming and business-friendly environment is complemented by an experienced team that is attuned to the needs of startups and small to medium businesses, ensuring a comprehensive and tailored client experience.
459 Collins Street in Melbourne CBD offers serviced private offices in an ideal location, catering to professional services firms supporting legal, financial, and brokerage organizations. This workspace boasts large windows, abundant natural daylight, and picturesque city views, providing an inspiring environment. Compass Offices, located at 459 Collins Street, delivers private and secure serviced offices, shared spaces, customized workspaces, a spacious business lounge, boardroom, and meeting rooms, along with enterprise-grade IT infrastructure.
The complex provides various amenities, including building concierge services, a vast lobby, proximity to dining and shopping outlets on Collins Street, and an array of restaurants, cafes, and bar options nearby like Hardware Lane, Centre Place, and Degraves Street. It offers easy access to transportation with tram stops and railway stations nearby, as well as end-of-trip facilities for tenants. The area also has a range of hotels for added convenience.
The products and services offered in Melbourne by Compass Offices include serviced offices, flexible office space, corporate offices, private offices, short-term office rentals, enterprise solutions, virtual offices, boardrooms, meeting rooms, hot desk options, and high-speed Wi-Fi.
LiquidSpace offers a comprehensive solution for all your office space needs in Melbourne and beyond. Whether you require a meeting room for a short meeting or a flexible office for an extended period, LiquidSpace has you covered. With an extensive network of over 13,600 options spanning the US, Canada, and Australia, you can easily find the perfect office space near Melbourne or any other location you desire.
LiquidSpace provides a diverse range of workspace types, including coworking spaces, conference rooms, serviced offices, team suites, and private office spaces, ensuring that there’s an ideal fit for every professional and business. Their extensive network has facilitated more than 8.6 million transactions for numerous professionals and companies, establishing trust in the discovery and booking process of flexible office spaces.
With LiquidSpace’s standard DASH License®, the booking process is straightforward and efficient, allowing you to secure office space on flexible terms that suit your needs.
United Co. provides fully furnished and decorated office spaces and consulting suites available for casual booking. These spaces offer a professional, engaging, and welcoming environment for team collaboration or client meetings without the burden of contractual obligations. Whether you require an office for a day or a consulting room for an hour, United Co. offers a range of casual office options to accommodate your specific needs.
Regus offers private office space in Melbourne CBD with comprehensive support for businesses. Their serviced offices come fully furnished and equipped with high-speed WiFi, ensuring you can focus on driving your business forward. The flexibility of rental terms allows you to lease office space from an hour to several years, making it suitable for various business needs.
Regus provides private offices that can accommodate teams of different sizes, offering fully customizable spaces to meet bespoke requirements. Additionally, they offer day offices and packages, ensuring flexibility for your workspace needs.
Their offices are conveniently located in Melbourne CBD, offering a prime business address and access to the bustling 24/7 commercial hub in Melbourne’s Central Business District. The offices feature modern amenities, including fast WiFi, well-equipped kitchens, break-out spaces, and flexible, well-lit office configurations to suit your specific requirements. Regus also has an onsite support team ready to assist with any additional needs.
Serviced Offices in Melbourne offer fully furnished office spaces with desks, chairs, lockable cabinets, and more, combining the benefits of secure, customized workspaces with the collaborative spirit of a coworking community in Melbourne. Their approach to leasing private offices is designed to make the process easy and convenient, focusing on your comfort and unique needs.
These offices are available at a competitive starting price per person, providing private, secure, and ready-to-use workspaces. Unlike traditional office leases, their packages are all-inclusive, even offering credits for meeting room hire and printing services, with the number of credits depending on your chosen package.
Leasing a serviced office comes with additional benefits, including access to various office amenities and participation in CoWork Me’s networking and wellness programs.
LaunchPad is a forward-thinking hub of workspaces designed to foster, inspire, and cultivate the entrepreneurial mindset for the future of work. Founded by entrepreneurs Jeremy Ellis and David Thomas, LaunchPad aims to provide an environment that helps businesses innovate and grow. It seeks to strike the right balance in nurturing a growth mindset in business owners, leaders, and team members. This visionary approach sees LaunchPad as the future of work, creating a space where entrepreneurs can be their best.
Operating leases commonly involve assets like real estate, aircraft, and long-lived equipment, such as vehicles, office equipment, or industry-specific machinery. These leases essentially entail a contract where a company can use an asset and is expected to return it in a condition similar to when it was initially leased from the lessor.
For a comfortable and efficient office space, it’s advisable to allocate 80-100 square feet per person. This calculation comprises 50 square feet for a desk and additional space for communal areas to promote a productive and collaborative working environment.
Office sizes vary based on the type and purpose, with standard private offices typically ranging from 150 to 350 square feet, cubicles averaging around 80 to 100 square feet per person, and open-plan workstations allocating roughly 60 square feet per person. The key factors influencing office size consideration include the number of employees and the nature of the work being conducted.