The latest trend in office space for many of Australia’s major metropolises seems to be the shared space. In cities like Melbourne, Sydney, Canberra, Adelaide, Brisbane and Perth coworking spaces, in addition to other shared office plans, provide businesses of all sizes and types cost-effective office space that promises other benefits. With the popularity of this office format, leasing the private office has become a thing of the past in this age when millennial entrepreneurs are inventing ways to make office life more comfortable, cost-effective, and convenient.

However, while the convivial atmosphere of shared office space has its own benefits, nothing compares to the privacy that comes from working out of a private office. When comparing shared space with the private office, shared space is always posited as a cheaper alternative to the conventional office, and typically this is true. However, office space providers have levelled the playing field by providing businesses with an affordable option to conventional lease and at a fraction of the cost.

Continue reading to learn about the benefits of the private office and how this office solution can benefit your business in Australia.

Office Location And Design

One key benefit of private offices, especially if fit out through a serviced office, is they tend to be located in some of the most prestigious locations around the city. In fact, many of these offices sit in prime commercial real estate locations in and around many of Australia’s central business districts. The Servcorp private office, for example, can be found in CBDs around Sydney, Melbourne, Brisbane, and other popular cities.

Furthermore, because many private offices tend to be located in the centre of business, their buildings and office design reflect the corporate culture that surrounds them. These offices are in any one of the prolific buildings that make up the city’s landscape. Moreover, the office’s design usually has the requisite high gloss or marble flooring and corporate meeting room, private office, conference room, and boardroom furniture.

Flexible Leasing Terms

Another key benefit is that while leases for many private offices can be protracted, in a renter’s market, you can pretty much snag a steal. When vacancy rates are high in the city, businesses benefit greatly from leasing options which typically reduce the monthly rent and sometimes include add-ons as an incentive to get your business. While typically more expensive to shared space, if your office is in the right location, your investment pays out in terms of foot traffic.

Alternatively, the serviced office can provide fully-furnished private offices on a short-term basis to businesses. Furthermore, these private offices are almost always cheaper than leasing office space by more conventional methods. Finally, serviced offices provide renters with a little more flexibility in that the fit-outs are scalable, allowing your business to transition into larger space effortlessly if needed.

Privacy And Discretion

The more immediate benefit of leasing a private office space is that you do have more privacy. Shared spaces work great for professionals whose work does not require discretion. However, private offices give professionals private space to talk with clients regarding confidential matters and space where they can keep sensitive information away from prying eyes. In industries where discretion is a must, industries like psychology, law, and medicine, the private office will always be a staple.

The Perks Of The Private Office

While the benefits of the private office are related to the type of work that gets done, private offices provide you with the opportunity to present your professional face to the public. Depending on your taste, you can design it to make it more personalised or to reflect a certain standard. More importantly, the space provides you with a quiet place that can help with your productivity, which is important in building your business.