Bangkok’s office rental hot spots

PHOTO: brandinside.asia

And the winner is…?

A survey carried out by Colliers International (Thailand), a global commercial real estate organisation, reveals that the highest office rent in Bangkok is at Gaysorn Tower on Ratchaprasong Road. The Nation reports that premium office space in the building is leased for 1,600 baht per square metre per month. Coming in at slightly less are spaces in the Park Ventures building, which rent for 1,500 baht per square metre a month, or in the Bhiraj Tower, located at the EmQuartier shopping mall, at 1,400 baht a month.

These prices reflect an increase of 3 – 5% from rents last year, but Colliers International points out that they are negotiable based on a company’s needs and the terms agreed.

Gayson Tower and the Park Ventures building are both located in Bangkok’s Lumpini district, while Bhiraj Tower is in Wattana. Both areas are seen as key central business districts with state-of-the-art facilities and, despite the steep rents, all three buildings are currently enjoying 99% occupancy.

Meanwhile, Colliers is predicting a further increase in office rental costs in the last quarter of this year due to high demand coupled with limited supply.

SOURCE: The Nation