Types of Office deals: Bare shell, Warm Shell, Furnished Spaces, Managed Space and Cowork
An office space is an important place where almost everyone in their life spends most of their time and energy. And office space comes in all shapes sizes and different building classes. And compared to earlier times due to present startup culture there have been a lot of changes in terms of types of office space availability. The reasons affecting your decision making process depends upon your locality. And below are the types of office space deals happen depending upon your requirement and availability.
This is the type of property option available to the companies wherein the landlord/operator provides the property after completion of construction activity and installation of basic building services. A Bareshell includes basic flooring. Apart from this pantry and toilet facilities may also be operational. The companies have to design the entire setup on their own. In this kind of office space, you normally pay for real estate and rest everything is setup by you. Some firms especially well funded startups prefer Bareshell as they get to design the space as per their own requirement and usually the room for negotiation in terms of lockin period, rentals, Security deposit is more as the landlord/operator is not investing on the interiors.
This is the upgraded version of Bareshell office. The office space with minimal furnishing is called warmshell. These type of properties include finished interiors such as HVAC system, lightings, restrooms, ceilings, plumbing, Generator backup, Lifts, flooring etc… (Parameters may change depending upon the property. They lack interiors and furniture, and this makes them easily customizable for business owners to tailor them as per their business and work culture.These are cost effective compared to a Bareshell which helps in save money and time and would be doing your investment of interiors completely as per your choice only which also can be reassembled, or sold out at the time of vacating the premises.
Furnished space –
When it comes to beginning up a business, it is always important to get a workplace where you can work without distractions. These office spaces are commonly located at the major locations of the city, enabling you to have easy access to transportation. Furnishing an office can be complicated to coordinate, time-consuming, and probably expensive. Luckily, fully furnished offices are now an option that business owners and entrepreneurs can take advantage of. With a furnished office, there is no need to move in desks, cubicles, or chairs. In fact, the office is fully ready to be used. As there are some advantages there are also some disadvantages such as –
Higher Rentals - The rentals are more in this type of offices as all the investment would have been made by the owner or the operator of the property.
Increased Liability - In the case of any accidental damage or any other loss to the property or the interiors, the tenant would be held directly responsible, and the landlord has complete right to recover the cost from the security deposit provided at the commencement of the deal.
Less Flexibility – You don’t have the convenience of customization. You should be very clear about your future aspects at the time of finalizing a property as down the line you won’t have much room to increase or decrease your team size and in this setup you would be bound with a longer lockin period.
Managed space –
This is a furnished space provided with all the facilities and technologies for companies to start with immediately without providing a long term commitment as it is always not possible to setup offices from day one. This kind of setup is more found in Hotels, SEZ’s etc managed by a private facility management company allows you to focus on your business as the complete operations are taken care of. These are usually located in the commercial pockets of a city and are more preferred by well-funded companies and companies to have a plush branch office with a small team size.
As we all know the commercial rentals are very high. It is always not possible for many young startups with a very small team to spend a lot of money on office space setup. The various advantages of a cowork space like Grit Coworks, which makes a preferred option for many startups, freelancers or SME’s are lower CAPEX, good networking opportunities with like-minded entrepreneurs and have accessibility to all kinds of facilities such as event space, food courts and also amenities of internet, stationery etc. This kind of setup provides you with flexibility in terms of duration of lease, increase or decrease of the team size, rents etc….
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