Offices

Choosing a new office is not an easy task. Office is as important as your business card – it’s the client’s first impression about the company, represents the company’s taste and values as well as demonstrates the company’s attitude towards employees.

Company managers understand that caring about employees boosts motivation and increases productivity. In order to attract and keep a competitive staff, company managers have become more aware that high-quality, comfortable and appropriate office space plays a great role. As a result, demand for quality and visually attractive office spaces increases. Nowadays lessees pay great attention not only to premises, layout and technical conditions, but also the overall environment and extras – what additional services are offered by the lessor. Maintenance of the building, manager’s attitude towards lessees, quality of additional services (cleaning, technical services, concierge, parking, etc.) and the lessor’s ability to react in time also play a significant role. Lessees pay more and more attention to such additional services as catering options in the office building or the near neighbourhood, availability of gyms, entertainment venues and even the option for employees to purchase / rent flats nearby.

100-250 m2 area B-class office spaces are the most demanded, but interest is growing also in A-class office centres. However, not all companies wish to set up their offices in modern newly-built office centres, therefore buildings outside Riga centre as well as office spaces with artistic aura that are set up in former industrial regions, factories and warehouses also become increasingly popular.

 Office space rental market trends

High quality office spaces in Riga have always been in high demand. The most popular are medium-sized office spaces in the city centre and close to the centre with comfortable parking option both for the employees and clients. Although providing a parking option for office spaces in the very centre is complicated, there are certain industries that find having an office in the historic centre of Riga or Old Riga more important than having a parking space.

There is a steadily ongoing demand for high-quality, respectable and effectively-planned office spaces that are easily accessible by public transport and have a parking option for at last 1 car per every 50 m2 leased. There also an increasing popularity of the market’s novelty – coworking office spaces. More and more demanded are flexible offices with adaptable planning and various usage options in time and space. Experts predict that such office spaces in Riga will increase in demand, generally due to the ever-increasing number of startup type companies.

We have listed the most important criteria, based on which company managers choose their potential office spaces:

• Building’s condition – preference on new or fully renovated buildings;
• Building’s systems – high attention paid to engineering systems (lighting, electricity, heat supply, air conditioning, security and access systems), control, monitoring, optimizing and reporting options;
• Building’s structure – determining factors also include the height of the ceiling, effective layout, insolation, finishing materials as well as comfortable and adaptive communications solutions for workspace equipment;
• Location – office space is located within the borders of the existing or future business activity region and is easily accessible;
• Parking – the type of parking place is also taken into consideration (overground, underground, multi-level) and the parking option for visitors.
• Building management – management must be carried out by a professional management service supplier.

Office space rental

Commercial property market will always be active and office space rental will always be demanded. Lately, office space market continues to grow, and – although several new office buildings in Riga have been put to operation recently – demand keeps exceeding supply and there is still a significant lack of new, high-quality office spaces in Riga that would fit the lessees’ demands.

Office spaces must serve people who work there, so their main task is to be:

• Ergonomic;
• Functional;
• Comfortable;
• Aesthetically harmonic.
   

Vestabalt real estate experts will help you find you an office space that best fits you and your business specifics. Our company’s database features a wide selection of office spaces – from the economic class offices allowing clients to choose custom solutions according to possibilities to free layout offices providing an option to adapt the space according to own requirements. Vestabalt has a vast office space offer both for rental and purchase.