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Co-working space – not just for start-ups

The Thaiger

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Co-working space – not just for start-ups | The Thaiger

PHOTO: HUBBA-TO co-working space in Bangkok

by Thanchanok Phobut | Senior Coordinator, CBRE Thailand

CBRE, an international property consultancy company, reveals that co-working space seems to be on the tip of everyone’s tongue these days. There was a time when no-one knew what the term “serviced office” meant or why someone would want such an option. But today, you can’t open a business publication without seeing an article about co-working. Most people think of co-working spaces as being a thriving hub of young latte-sipping, technology entrepreneurs, coming up with the next big idea that will make them multi-millionaires.

While there is an element of truth to this image, the end-goal for many co-working space operators is to change the way that companies, not just start-ups, source their office space. They want companies to pay for office space as a service rather than follow the traditional route of signing a lease, fitting out their own space, having an office manager maintain the premises and hiring their own employees for reception and administrative duties.

Co-working office operators usually offer companies their own private space. It is most common to be offered an office based on the size you will need to fit in a set number of desks. For example, if your company has four employees, your package offer will include a furnished closed office with four desks, 4 chairs and optional telecommunications equipment for four people (internet service, phone number and a telephone handset).

There is usually a common kitchen area and spaces to meet and mingle. Think of it like a five-star hotel, you’re not sharing a room, but you are getting a high level of service and amenities on the premises.

You usually have a short-term commitment, not signing a lease for years. The best deal is usually for a year or more, but you can lease your office for as short as one month. Starting and ending your relationship with an operator is most often quick and easy. Since the office is already outfitted and reception services provided, getting to work is much quicker than when you need to design your new space yourself or hire your own support staff.

“Competition in the space is red hot. As more and more offices pop up, the fight to achieve 100% occupancy is fierce. When shopping for your space, be sure to consider more than just price, as the services and reputation of your provider are just as important.

“If you do your homework, you’ll avoid the pitfalls of co-working space, such as unreturned deposits, unexpectedly thin walls between units or fees for things like coffee and copying that you didn’t expect. The great news is, changing providers is much easier than with traditional space,” states Mr. Nithipat Tongpun, Head of Advisory & Transaction Services – Office, CBRE Thailand.

According to a recent CBRE report on the New York City office market:

  • While traditional long-term leases are the preferred model for business and the foundation of the commercial office market, the rapid growth of third-party flexible space operators provides occupiers with a wide variety of options for leasing office space. Since 2013, when the expansion of third-party flexible space began to gain significant traction, the sector has averaged an annual growth rate of 22 percent.
  • There are strong indicators of user demand for the services of the third-party space providers. In fact, 75 percent of corporate occupiers anticipate including co-working or flexible space in their occupancy portfolio over the next three years.
  • Smaller users also continue to be an important part of the target market; as the flexible space footprint has grown in Manhattan, the amount of traditional leasing among tenants under 5,000 sq. ft. has dropped off by 42 percent between 2013 and year-end 2017, suggesting that these users are migrating to flexible space solutions.

In Bangkok, four large co-working space operators are opening in multiple locations. JustCo, Spaces, The Great Room and WeWork leased a combined total of 25,000 square metres of space in some of Bangkok’s best office buildings last year and they are still growing.

“I recently met Yvan Maillard, general manager of The Great Room‘s Singapore operation and he said that, in Singapore, 30% of his clients are late stage start-ups, 30 % are private investment family offices and 30% are mainstream corporates. In the case of corporates, they often lease co-working space as a stopgap before finding a larger permanent office for their expanding team,” said Mr. James Pitchon, Head of Research and Consulting, CBRE Thailand.

It is not only the way companies source their office space that is changing. Even those companies who continue to lease office space directly are changing the way that they use the space – having your own office or even your own desk is out of fashion – agile working is all the rage.

Mr. Nihipat added, “Companies are providing employees with a daily choice of environments from quiet space to a layout that enables teams to collaborate. Employees are expected to move around the office, depending on their tasks. The objective is to create a workspace that fulfills the employees’ needs in a high-quality environment, while minimizing the number of individual desks needed, effectively putting more people to work in less space.”

Globally and in Bangkok, the office market will continue to evolve and while traditional leases are yet to be seen as a thing of the past, CBRE expects more companies to provide agile working environments. CBRE also expects to see significant growth in the amount of co-working spaces provided by third party suppliers.

“This will mean an increase in the demand for high quality buildings with flexible, column free floor plates, technically advanced air conditioning and temperature control, as well as sufficient lift capacity to deal with higher rates of occupation density.

Many of the new generation of buildings currently under construction or being planned in Bangkok will have these features and we won’t be surprised to see more and more co-working spaces open their doors as companies weigh the real advantages of this option versus traditional space.

Co-working space - not just for start-ups | News by The Thaiger



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Bangkok

Thanathorn faces more charges from EC over media shares

The Thaiger & The Nation

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Thanathorn faces more charges from EC over media shares | The Thaiger

Future Forward’s Thanathorn Juangroongruangkit, the 40 year old leader of the new party, has cut short his trip to Europe over an ‘unexpected incident’

The Thai Election Commission yesterday unanimously resolved to press charges against Thanathorn over an alleged violation of Thai media shareholding rules.

Citing investigations by two EC panels, Sawang Boonmee, the EC deputy secretary-general, told a press conference that Thanathorn had allegedly violated the law by owning or holding 675,000 shares in V-Luck Media Company while registering as a candidate for the general election.

“Thanathorn’s share certificate number is from 1350001 to 2025000,” said Sawang, referring to the findings of two panels the EC had set up to investigate the case.

Thanathorn has been accused of contravening the electoral laws that state a shareholder in a media company is barred from contesting an election for member of parliament, according to the EC. The action is punishable by disqualification. The case was filed by Srisuwan Janya, secretary-general of the Association for Protection of the Thai Constitution, on March 25.

An EC source said the agency had yet to suspend Thanathorn’s right to contest in elections for one year or give him an “orange” card, as it was just an initial charge. Thanathorn will have seven days to give testimony or submit documents in his defence to the EC, Sawang said, adding his lawyers would also be allowed to witness the trial.

After the testimony, the EC will finalise the case as soon as possible in order to finish it before May 9 when it will announce the election results.

Thanathorn, whose party is tipped to win around 80 MP seats in the new lower house, was on the way back from his tour to Europe. He posted on his Facebook page yesterday that he had been notified to quickly return to Thailand to face an “unexpected incident”.

Future Forward secretary-general, Piyabutr Saengkanokkul has questioned the EC’s decision, saying the poll agency needs to wait until Thanathorn is endorsed as an MP before it can question his qualification.

Meanwhile, Raksagecha Chaechai, secretary-general of the Office of Ombudsman, said the EC had until today (Wednesday) to submit an explanation to the office regarding a petition seeking an annulment of the March 24 election.

The office last week resolved to accept the petition filed by the now-defunct Thai Raksa Chart Party’s former MP candidate, Reungkrai Leekijwatana, who asked the office to submit its opinion to the Administrative Court or the Constitutional Court regarding whether last month’s election should be annulled.

Thanathorn faces more charges from EC over media shares | News by The Thaiger

SOURCE: The Nation

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Bangkok

Mother says customer paying for sex with 5 year old daughter was girl’s father

The Thaiger & The Nation

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Mother says customer paying for sex with 5 year old daughter was girl’s father | The Thaiger

PHOTOS: tnews.co.th

A 28 year old woman, arrested in Chachoengsao, east of Bangkok, for allegedly selling her five year old daughter for sex, has revealed to police that the 52 year old customer who was allegedly caught in the act, and arrested at the time, was the young girl’s biological father.

The woman – whose name is being withheld to protect the victim’s identity – had reportedly taken the child twice weekly to be molested and raped by the customer, identified only as ‘Winai’. The mother allegedly received 200-300 baht each time.

The Nation reports that following their arrest on Sunday evening in an isolated location in Tambon Nong Yao in Phanom Sarakham district, the woman told police that she had had a sexual relationship with Winai – who was an already-married man with a daughter – and became pregnant with a baby girl.

She claimed that she had told Winai that the girl was his daughter, but the man had refused to accept that and so she had found another person to sign the birth certificate.

This case was brought to the Thai authority’s attention after a complaint was filed with the Dhamrongtham Centre over alleged child abuse.

The mother was charged with procuring a child for prostitution, illegal detention and coercion, while the man was charged with raping a minor under 16 and molesting a minor under 15.

The child has been put under the care of the Social Development and Human Security Ministry.

Mother says customer paying for sex with 5 year old daughter was girl's father | News by The Thaiger

PHOTO: news.co.th

SOURCE: The Nation

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Bangkok

Thon Buri pub raid, 38 patrons test positive for drugs

The Thaiger & The Nation

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Thon Buri pub raid, 38 patrons test positive for drugs | The Thaiger

Sur-PRIIISE!

Troops and police have raided a nightclub in Bangkok’s Thon Buri district at 3am this morning and found that 38 of its patrons tested positive to illicit drug use.

The Bangkok office of the Internal Security Operations Command conducted the early morning raid against the Wave Pub (formerly known as the Poseidon Pub) on Ratchadapisek Road in Talad Plu sub-district. The unit was joined by ISOC officials and anti-narcotics police from the Talad Plu police station.

The pub was closed under its old name three years ago on similar charges.

When the authorities stormed inside, they found 440 customers joining in a foam party for a late Songkran celebration. Of the 38 patrons arrested for drug use, 25 were woman. No underage drinkers were found inside the pub, or at least none were apprehended.

The authorities also found quantities of drugs, including ketamine and crystal methamphetamine, on the pub floor.

The 43 year old deputy manager Rewat Chaiyaphum was arrested on a charge of violating closing hour and allowing drugs to be used on the premises. The pub is now facing a five-year closure for violating closing hours and allowing drug use.

Thon Buri pub raid, 38 patrons test positive for drugs | News by The Thaiger Thon Buri pub raid, 38 patrons test positive for drugs | News by The Thaiger Thon Buri pub raid, 38 patrons test positive for drugs | News by The Thaiger

SOURCE: The Nation

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