Two offices with the same advertised rental can produce very different monthly occupancy costs. Businesses should compare the full commercial structure of a lease rather than focusing only on the rate per square metre.
The best-value office is the one whose total cost, specification and operating reliability fit the business.
Start with gross occupancy cost
Compare base or gross rental, operating costs, rates and taxes where applicable, parking, utilities, generator or backup-power recoveries, water charges, storage and any specific Park levies.
Parking matters
A building with a lower rental but expensive parking can become less competitive once the required parking ratio is included. Parking type also matters: open, shaded and basement bays may be priced differently.
Existing fit-out can change the economics
A fitted office can reduce capital cost and shorten the move-in period. A white-boxed office provides flexibility but may require a larger fit-out budget. Tenant installation allowances should be understood in relation to lease length and the final design requirement.
Reliability has a cost — and a value
Generator power, UPS systems, water backup, fibre resilience and building management can increase occupancy charges, but outages and lost productivity also have a cost. The correct comparison is therefore operational, not simply rental-based.
Candice's perspective
When I compare offices for a client, I want the full occupancy picture on one page. Rental, parking, fit-out, backup infrastructure and operating costs need to be looked at together before one building can genuinely be called better value.
Explore next
Use The Brief to define the requirement, then compare current office options and total occupancy costs.