Office Space Sector
The office space sub-sector has enjoyed relatively long periods of high rental levels. In 1990s offices were mainly located residential houses all over the city as there were no adequate numbers of office buildings in the city. Of recent a number of modern office blocks charging reasonable rent have been built in areas of Nakasero, Kitante, Shimoni and Kamwokya. One can also find office spaces down town as most storeyed commercial buildings are not fully occupied.
- The rental charges have now gone in response to the increase in the office space in the city. It is important to note that demand and rental levels for office space in Kampala are principally influenced by;
- Availability of ample parking space for tenants and visitors
- Ease of accessibility to the property
- Facilities on offer at the premises
Organisations are now looking for eco-friendly, good quality, functional and intelligent office space. The building which not fully meet the above can no longer charge premium rent.
Kampala is most likely to have an oversupply of office space within the next few years if the current trend of office property development continues.
Issues considered when looking for office space
The location should that will give the organization a competitive advantage and at the same time meet the requirements of customers and employees.
The atmosphere should include room for expansion, security, noise, neighborhood and appearance of the office space
The level of rent can be a big determining factor, especially these days when costs for renting an office space can pile up fast.
Most building owners demand a minimum of three to six month rental payment plan.
The time it takes to secure space can be longer in a new building as the final touches tend to take some time to finalise.
The size of office one is looking should be enough to accommodate the staffing levels and also provide room for expansion.