Adelaide office space guide 2023

Looking for the perfect office space in Adelaide? Office spaces are the lifeblood of any thriving business, serving as the physical foundation for productivity, collaboration, and innovation.

In Adelaide, a city known for its economic vitality and burgeoning entrepreneurial spirit, the significance of well-chosen office spaces cannot be overstated. They are pivotal in shaping a company's culture, fostering employee engagement, and leaving a lasting impression on clients and partners.

Whether you seek a traditional office, virtual office, coworking space, or serviced office in Adelaide, this guide will offer a comprehensive overview, equipping you with all the essential information you need about office spaces.

Why Adelaide is Your Ideal Business Destination

Cost

Compared to major cities like Sydney or Melbourne, you will find much more affordable office spaces in Adelaide. Knight Frank says the average gross face rent per square meter in Adelaide is $578 for prime office space.

Adelaide presents a cost-effective proposition compared to Sydney’s $1,254 per SQM and Melbourne’s $686 per SQM.

This provides an opportunity to acquire high-quality commercial real estate at more affordable rates and fosters a welcoming atmosphere for entrepreneurs and startups. Additionally, the lower cost of living in Adelaide significantly impacts both business operations and daily expenses.

Economic stability

A prominent feature that can’t be overlooked is Adelaide’s economic stability and growth. The city’s Gross Regional Product has increased by 6.74% and remained stable throughout tough times including the pandemic.

Purchasing office space in Adelaide is an excellent investment because of the various industries you will be surrounded by. Manufacturing, defense, technology, healthcare, education, agriculture, and creative industries are some of the many thriving established companies you will find.

Adelaide fast facts

• Government Support: The government of South Australia provides various kinds of incentives and support initiatives so that companies consider setting up their operations within a region. Such incentives include grants, tax cuts or initiatives to spark economic development.

• Connectivity: Adelaide has an excellent transportation network with a sophisticated airport and a main port. Their trams, trains and buses allow easy movement through the city – some are also free!

• Clean and Green: Generally, South Australia believes in sustainability and renewable energy. We can observe this in its 42% reduction in greenhouse gas emissions in the past 18 years. Similar to the rest of Australia, the city of Adelaide will be carbon neutral by 2050.

The cost of office space in Adelaide

Determining the cost of office space is critical to planning your business's future in Adelaide. The financial implications of securing office space can significantly impact your bottom line and overall budget.

As mentioned earlier, renting prime commercial real estate in Adelaide will cost around $578 per square meter. With the average office space per employee being 14 SQM, a small business of five employees can expect to pay at least $40,460.

Although it is significantly cheaper than cities such as Sydney, the cost quickly increases when considering other factors. Furniture per employee, technology and office outgoings that increase rent will easily bump annual costs over $100,000.

Adelaide has great locations, such as office space at 91 King William Street and exploring flexible workspace solutions can significantly reduce overheads. Let’s take this location as an example while we delve into flexible workspace options.

Coworking Spaces in Adelaide

Coworking in Adelaide is a great method for accessing high-quality workspaces without the large overhead costs and lease commitments.

On average, a coworking space only requires you to commit to a one-month lease, which awards tenants plenty of flexibility. It keeps the level of risk marginally lower and opens the door for businesses that only require office space on a project basis to have quality space with terms that suit them.

Coworking spaces also provide ample networking opportunities. Typically, your coworking provider will organize events that unite everyone, fostering meaningful interactions and conversations. You never know how these connections might lead to valuable business opportunities through the diverse networks that are formed.

Coworking spaces in Adelaide are still a growing trend and the number of providers is limited. Hence doing your research is essential. Consider the location, cost, technology and services before signing any lease.

For example, coworking at 91 King William Street is a great location for having access to a workspace in a central place. Not only is it $204 less than the average price, but the flexible workspace also has much to offer.

Here are some services and amenities that you should look for:

• Quality address
• Secure and fast Wi-Fi
• Dedicated receptionist to answer calls
• Secretarial support
• In-house IT support
• Shared kitchen with unlimited tea, coffee and water
• Secure storage

Analysing the cost versus what is received is essential when selecting your coworking space in Adelaide.

Factor in considerations such as, will this workspace impress my clients? Is it functional for my industry? Is the cost sustainable for my business? Will the amenities improve my efficiency? Is the coworking space provider a stable company?

Answering all these questions will place your business in a better position before signing a lease.

Coworking spaces in Adelaide are typically occupied by:

• Marketing agencies
• Creative companies
• Engineers
• Technology firms

Virtual Offices in Adelaide

Many businesses lease a virtual office in Adelaide for different reasons.

Whether it’s for expanding a business and establishing a local presence or simply finding a low-risk option for acquiring office-like amenities, the virtual office is a great strategic option.

A virtual office is still a foreign concept to many businesses, but it holds merits on many levels. It gives remote businesses credibility by allowing them to register their business address as the virtual office’s location.

Depending on the provider, you may also have access to other commercial advantages. For example, Servcorp’s virtual office also includes mail forwarding, call answering services, virtual support and meeting rooms that can be booked.

The significant mitigation of risk in virtual office leasing is primarily due to the option of monthly rental agreements, which offer cost-effective solutions. These two key factors combine to create an opportunity for market testing without substantial consequences.

Serviced Offices in Adelaide

The serviced office is the closest flexible workspace solution to the traditional office while remaining more cost-effective.

For starters, serviced offices in Adelaide come fully furnished. Most companies spend approximately $ 1,500 per employee on office furniture and those with a serviced office can mitigate this spend.

Tenants of serviced offices also enjoy cost savings on essential technology services like Wi-Fi, phone systems, call routing, and well-equipped meeting rooms with conferencing technology.

Considering the average small company spends approximately 6.9% of its revenue on IT, the serviced office presents a valuable proposition for businesses in Adelaide. Technology-focused serviced office providers often comprise industries such as:

• Health
• Legal
• Financial
• Technology
• Energy

For example, Servcorp’s serviced office location at levels 24 and 30, 91 King William Street has been occupied by Tata Consultancy, Kerr Law, Judo Bank, Alinta Energy and many other large-scale companies.

Carry your checklist before agreeing to any lease and consider these factors:

• Do I have access to a VLAN connection for data safety?
• Are the receptionists onsite? Or are the calls re-routed to a call centre?
• Does the serviced office provider have too many logos and personal branding? If so, what impression will this make on my clients?

About 91 King William Street

Knowing what’s around your office space is as important as what is inside. So, whether you have a coworking space, a serviced office, or a virtual office at 91 King William Street, here is what you can look forward to.

Prime Location

91 King William Street is strategically situated in the heart of Adelaide's central business district (CBD). This means your business will be at the epicenter of economic activity, with easy access to clients, partners, and key stakeholders.

Transport Benefits

The location boasts excellent transport connectivity. The Adelaide Railway Station is within walking distance, and numerous bus stops are nearby. Whether you rely on public transport or prefer to drive, you'll find convenient options for commuting to and from the office.

Surrounding Environment

A vibrant urban environment with numerous benefits surrounds 91 King William Street. Here are some highlights:

• Dining: You'll have various dining options at your doorstep, from cozy cafes to upscale restaurants, perfect for business lunches and networking.
• Retail: The CBD features a diverse retail landscape, including boutique shops and large retail centers, ensuring access to a wide range of products and services.
• Culture: Adelaide is renowned for its cultural offerings, and your new office location is no exception. The nearby Arts Precinct houses galleries, theaters, and cultural venues, providing an inspiring atmosphere for your work.
• Green Spaces: For moments of relaxation, the lush Victoria Square/Tarntanyangga is within walking distance, offering a tranquil oasis amid the bustling city.
• Networking: The CBD is a hub for networking events, industry conferences, and business organizations, making it easy to connect with like-minded professionals

Ready to secure your office space? Reach out to use today.

People who read this article also read the Melbourne Office Space Guide and Sydney Office Space Guide.