When searching for office space for rent or examining investment opportunities in the Singapore office market, it is important to consider a building’s classification in order to determine its quality and suitability for your business. It is important to note, however, that these ratings are not official. Various factors contribute to the classification, including age, location, and amenities of the building.
Definition of an Grade A Office Building
It may be difficult for someone with limited knowledge of office real estate to determine the grade of an office building. A Grade A office building is the pinnacle of quality. These buildings are often the most desirable and prestigious. These buildings are typically occupied by some of the most famous corporations and reputable brands within the corporate sector.
Grade A office buildings have been designed and built with the latest technology and new age facilities. Some Grade A office buildings also feature landscaped gardens and restaurants. These are all designed to make the building an attractive place to work and visit.
Grade A office buildings are usually located in the CBD or other prime business districts. They feature large windows, raised floors and wide columns to maximize the space available. Furthermore, these buildings are equipped with state-of-the-art fire safety and security systems.
Grade A buildings are also designed and managed to the highest standards of professionalism. It is common for Grade A office buildings to have a professional management team and concierge services. In many Grade A offices, you will also find Starbucks and The Coffee Bean & Tea Leaf in the lobby.
The definition of a Grade A office building will vary from region to region. For example, in London, a Grade A office building may have different standards than those in Singapore. However, there are some common themes that run through the definition of office grades internationally.
Rising Demand for Grade A Office Spaces
Singapore has seen an increase in the demand for high quality office spaces over the past ten years. This is despite the fact that grade A office rentals are approximately 20% to 40% higher than lower grade office rentals at the same location.
The rising demand for Grade A office space is attributed to the growing appetite for high quality office space by big brands in the market and increased demand for prime business locations.
The financial and tech sectors have also been a driving force in the demand for Grade A office space. Many financial institutions and technology giants have established their country headquarters in Grade A buildings. For instance, Streaming entertainment service provider Netflix and social media giant Facebook are located in marina One Office Towers, while Standard Chartered Bank and DBS Bank are anchor tenants in marina bay Financial Centre.
How About Grade B and C Office Building
Basically, a Grade B and C office buildings are office buildings that is not as high-end as a Grade A building. It is a good choice for companies looking for a functional office space that is also affordable. These buildings are located in the CBD or often found in the suburbs or at the edges of financial districts.
Typically, Grade B and C buildings are more than 20 years old and are located in less desirable areas. They are not as well maintained as Grade A buildings. They may not have a high-end elevator system, fire safety features or other amenities. They may also not have large windows with good natural light.
A list of five examples of Grade A office buildings in Singapore
If you are considering moving your business to a grade A building in Singapore or are still deciding between a grade B and grade A building, there are some Grade A office buildings in Singapore that are worth checking out.
Ocean Financial Centre, One Raffles Quay, Marina Bay Financial Centre, and Guoco Tower are among the notable buildings. These buildings are some of the most prestigious in the world, and they offer a range of facilities to suit your needs.
Marina bay Financial Centre
Located on a prime waterfront site in Singapore, Marina Bay Financial Centre (MBFC) is one of the most highly sought-after commercial business locations in the city centre. The development offers almost three million square feet of prime Grade A office space and is complemented by a world-class underground retail mall.
Marina Bay Financial Centre was designed by KPF, one of the world’s leading architecture firms. The building’s distinctive architectural language blends crystalline forms with state-of-the-art designs. The towers are designed to maximize views of the Marina Bay and the sea. The office spaces are well designed to accommodate the needs of a wide range of MNCs tenants, particularly the financial services tenants.
Marina Bay Financial Centre features three office towers and a mall. The towers are connected to Singapore’s multimodal transportation network. This includes several MRT stations and buses. This provides tenants with seamless connectivity.
Ocean Financial Centre
Located in the heart of the financial hub, the Ocean Financial Centre is a 43-story Grade A office tower. The office space in this building offers spectacular views of Singapore’s skyline. The tower is also one of the tallest office buildings in Singapore.
The Ocean Financial Centre is one of the few office buildings in the Raffles Place area that offers direct underground access to the MRT station. This makes it an ideal office location for all businesses.
The building is home to several financial corporations such as BNP Paribas Singapore and Anglo American Marketing. It also houses the Honorary Consulate of Cyprus on the 37th floor. It also comprises a number of energy-saving and environmentally friendly features.
One Raffles Quay
Located in Singapore’s central business district, Marina Bay, One Raffles Quay (ORQ) is a premium Grade A office building complex. Its two towers feature a dramatic entrance, a column-free design and multiple levels of essential services. Its distinctive crystalline facade is surrounded by a glass curtain wall designed to harness natural lighting. The office space is column-free with regular layouts, high ceilings, and high-efficiency space.
One Raffles Quay was developed for the banking and financial services sector. The building was designed by the New York-based architects Kohn Pederson Fox. Its smart-building design harnesses natural lighting, eco-friendly technology, and dual power sources. The building also features an underground retail link mall.
Located in the southern west region of Singapore’s Central Business District, Guoco Tower is one of the tallest office buildings in the country. With a total net lettable area of 890,000 square feet, Guoco Tower comprises 38 floors of Grade A offices, as well as 6 floors of retail, a 5-star hotel, a five-storey Network Hub, and luxury residential apartments. It is also part of the landmark Tanjong Pagar Centre development.
Guoco Tower is also one of the first buildings in Singapore to exceed 280 meters in height. The building was designed by Skidmore, Owings & Merrill (SOM), and the development is also LEED certified. Guoco Tower is also BCA Gold Plus certified, meaning that it has met the highest standards of environmental performance.
Located at the gateway to the core of Singapore’s CBD, Frasers Tower is a premium grade A office building that boasts a three-storey retail podium, a 663,000 sq ft grade A offices and an outdoor recreational terrace. It’s also a stone’s throw away from a multitude of retail and dining options.
Frasers Tower features a bespoke facade, designed by DP Architects, that is inspired by its immediate urban surroundings. This contextual prism shape also introduces a tapering effect, improving its integration with surrounding buildings.
The Tower is connected to the nearby park through a recreational terrace area. This terrace serves as a gathering place for the community at Frasers Tower. It features cooling water features, foosball tables, resting pods and communal breakout areas. It is ideal for strategy discussions, town hall sessions and creative thinking.
Interested in grade A office space in Singapore? Let our team of experts send you a list of available spaces.
We at Owee Commercial Real Estate are one of the few commercial real estate agencies in Singapore who represent tenants and help them find a commercial property as quickly as possible while meeting all their needs. Check out our Tenant’s Representation page to learn more about our services.
Nic is the Executive Director and Key Executive Officer (KEO) of Owee Commercial Real Estate Pte Ltd. Nic starts his real estate career in 1995. He focuses in providing real estate services specifically to international high net-worth individuals and corporate clients. His expertise includes commercial properties finding, property investment planning & acquisition, managing buy to let property and tenant representation for office space.