In Bangkok, office buildings are not only commonly used by corporations. Nowadays, these spaces are being used by different retailers as well because of the increase in demand. Office buildings are now home to various retailers such as convenience stores, cafes, restaurants, fitness clubs and even beauty salons. These businesses turn to office buildings when they can’t find anywhere else to open their new branches or to seek for new opportunities. Bangkok is known for its buildings, be it a modern compact hotel in Sukhumvit or a skyscraper that lines the nightly view of the capital city.
Based on Thailand Property Intelligence Centre by JLL, all over Bangkok one will be able to find office buildings that are open to be let for retail spaces. Approximately, there is an available space of about 1.5 million square meters for the taking. Majority of these spaces can be found in lower floors such as the basement, ground and second level of the buildings. This does not count the buildings that are intended for mix-use such as The Emporium, The Emquartier, Siam Discovery and Central.
The rent for office spaces to be used by retails are not the same because of different factors such as quality and profile of the building, location, street exposure, profile and foot traffic. On average, the monthly rent on ground floor spaces found in premium locations has a range of 1,500 to 2500 baht for every square meter. If the location of the office building is not so in demand then the rent can only go from 700 to 1,000 baht for every square meter.
Retail spaces are limited and the demand is higher compared to office spaces thus the rents are much higher compared to an office space found in the same building.
If the retail space is located in the basement or an upper floor, the rent can be lower. Retail spaces are taking advantage of locations that are near in hotels with many tourists such as a modern compact hotel in Sukhumvit. Majority of these retail spaces are food and beverage outlets to cater to the need of the visitors.