Sydney Office Space Guide 2023

Overwhelmed with choices after Googling 'office space to rent near me?"

Trying to find an office space in Sydney can be a challenging process. As a financial hub, the Sydney Central Business District has an abundance of options and it's essential to select the right one for your business.

The variety of conventional and flexible workspaces in Sydney has no shortage, from the traditional office to serviced offices, coworking spaces and virtual offices. Whether you're an entrepreneur, startup, small business owner, or an established business, this office space guide will help you find an ideal office rental in Sydney.

Why Sydney is ideal for business

As of 2023, Sydney is the 4th best city to live in the world and is an iconic location globally.

Accomplishing such a feat considers the location's stability and infrastructure, which is a strong indicator of business success in Sydney City.

With a recent recording of 604,660 businesses in Greater Sydney and a population of 5.3 million people, there's plenty of diversity and opportunities for a wide range of businesses to gain a foothold in this city powerhouse.

Sydney is Australia's global gateway, and its economic strength plays a powerful role within Australia; this can be seen in its $138 billion total generated income in 2019 alone. The geographic location of Sydney CBD is extremely central, and the fast-paced market gives plenty of opportunities for growth or networking.

The public transport in Sydney city is also constantly improving. With developments such as new light rails, traveling in the town becomes more efficient and adds to the existing excellent transport links. Flexible office spaces in Sydney are also strategically located near train stations such as Town Hall, Martin Place, Central, Wynyard Station and Circular Quay - all of which simplify travel.

North Sydney

Another phenomenal office space location and business hub is the second largest commercial district in NSW - North Sydney.

Besides its stunning views of the famous harbor and a bustling business district, the North Shore CBD is perfect for businesses looking to cover a large geographical customer base. The prime proximity of North Sydney offers quick access to the CBD, with only five minutes by car or two stops on the train.

There's easy access to the Northern and Western Sydney suburbs, with main motorways just minutes from your North Sydney office space. Parking space is also abundant, making traveling to coworking spaces or private offices much easier.

Let's assume you have an office space at 100 Mount Street North Sydney; in that case here is how fast you can go based on these popular locations:

North Sydney is also famous for its local attractions, such as Luna Park, Olympic Swimming Pool, and Wendy's Secret Garden.

The growing district is also home to a unique dining scene. Offering premium and casual options, North Sydney has some restaurants for unwinding or chatting business with clients, such as RAFI, Glorietta, and Rengaya.

Common business types in Sydney

The sheer diversity in Sydney means it welcomes all types of businesses and industries.

Whether in finance, legal, professional services, tech, or any other industry, there's undoubtedly a target market within Sydney because all businesses desire a central location. Although it's a very competitive environment, it pays off for businesses that can acquire office space in Sydney since it portrays the image of a credible and established company.

North Sydney business demographics

Many notable global corporations reside in North Sydney for its ideal location for IT, media/advertising and retail industries. Some of the most notable companies include Coca-Cola, Zurich, Sony, Microsoft, Chanel, NBN, Cisco Systems, TPG Telecom, Sydney Morning Herald, Fairfax Media, and Nine Entertainment.

In recent years, the location has become Sydney's technology hub and businesses in that industry will find North Sydney a fantastic destination for their office space needs. Flexible workspaces such as coworking in North Sydney or serviced offices can be leased at a lower cost than the CBD, making it an effective investment without sacrificing credibility.

Business types that use a serviced office in Sydney

The serviced office is a popular option for clients looking to maintain a physical presence but with flexibility. Serviced offices present a unique advantage of no lock-in leases with flexible rental terms, premium fit-outs and office management without the set-up hassle.

They are also packed with amenities such as access to meeting rooms, shared kitchens, high-speed internet and on-site team support. Compared to what the standard office rental offers, it's clear why flexible spaces such as serviced offices in Sydney are becoming the favourite.

And these office spaces in Sydney are occupied by a variety of businesses. For example, Servcorp's serviced offices in 100 Mount Street have a sole trader running their strategic coaching business and a winery that uses the location as their head office, whilst hosting premium wine launches to a massive community.

Business types in Market Street, Martin Place, Chifley Square and Barangaroo:

• Law firms

• Banks

• Brokers

• Finance

Whereas North Sydney primarily comprises:

• Technology

• Infrastructure

• Financial investment

Although any of these locations are great, it's important to understand which area comprises what demographic. This will ensure you acquire an office space in Sydney that is better suited for your industry, and you can make the most use of the fully furnished offices available.

Business types that use a virtual office in Sydney

Many small and large businesses choose a virtual office for many different reasons. Since the pandemic, there has been a large shift in the way people work, and this has affected almost every industry.

Businesses are starting to shift away from traditional workspaces and embrace flexible arrangements, with the virtual office being a key player in supporting such businesses. But it's paramount to choose the right virtual office provider since services will always vary and understanding this will determine future productivity.

For example, Servcorp's services are often selected as a virtual solution to replace the three key duties a physical space provides.

An address: businesses who are no longer using the traditional 9-5 hours still need a physical and professional presence that is not their home address. Virtual offices allow businesses to select between prestigious locations such as Chifley Tower, International Towers Barangaroo, Gateway Circular Quay, Market Street, 100 Mount Street, and many other virtual office locations.

Whether their work is in person or online, most businesses still receive mail and packages. Servcorp's full-time team accepts and manages mail so nothing is missed.

Flexible and secure workspace: your team might be working from home, but this doesn't mean they don't want a physical office space to work at home occasionally. A Servcorp virtual office also includes the usage of coworking spaces, which gives employees a professional and nice change of environment to use when they're feeling cramped up at home.

Whilst some businesses have opted to allow their team members to work from a café, given the current era of cybersecurity and privacy risks of doing business outside of a professional environment - it's simply not advisable. And coworking spaces offer unlimited free drinks, so there's no need to pay for a coffee at a café!

(Related: The Best Coworking Spaces in Canberra)

Team: the past few years have proven to be difficult to hire new staff for all businesses. The number of employees quitting is on the rise and as a business owner, your staff retention is detrimental to success. A Servcorp virtual office includes a fully trained team of experts, including a receptionist to answer business calls and secretarial support to tackle many tasks.

Business types that use Coworking spaces in Sydney

Coworking spaces have grown in popularity over the last few years, not only because of how cost-effective it is but also because of what it offers.

Don't confuse coworking spaces as a desk and chair to work from. It offers a community to socialise and network with, which can ultimately lead to many future business opportunities.

Coworking spaces in Sydney CBD primarily comprise:

• Creative industry

• Sole traders

• Sales teams

• Freelancers

Primarily, coworking spaces in Sydney are full of workers that are always on the move.

Business types that use coworking spaces in North Sydney

Interestingly, North Sydney offers a unique melting pot of many industries in its coworking spaces. From accounting, law firms, cybersecurity, real estate and logistics - the community is large and there's plenty of opportunity for networking.

Coworking spaces in North Sydney are also accompanied by fantastic harbour views and offer between open or private spaces to ensure there's a tailored solution for every individual.

Essential nearby landmarks

Knowing what's around your office space is as important as the space itself!

Here are a few good-to-know landmarks based on your location.

Martin Place:

• NSW Parliament

• State Library of New South Wales

• Gyms

• Federal Court of Australia

• Supreme Court of New South Wales

• Martin Place train station

Chifley Square:

• Wilson Parking
• New Zealand Visa Application Centre
• Royal Botanical Gardens
• Insurance and law firms
• Sofitel

Barangaroo:

• Crown Sydney

• King Street Wharf

• Fine dining restaurants

North Sydney, Mount Street:

• Microsoft

• Service NSW

• Meriton Suites

• U.S. Consulate General Sydney

Parramatta, Macquarie Street:

• Gyms

• Parramatta Children's Court

• Parramatta train station

• Hotels

Market Street:

• Town hall train station and light rail

• Apple Sydney

• Queen Victoria Building

• Sydney Tower

• Hotels

Gateway, Circular Quay:

• MUFG Bank

• Circular Quay train station

• Customs House library

• Gyms

• Export House

Things to do in Sydney

It's essential to be aware of the regular festivities and events that happen in Sydney to make your work-life better!

For example, Sydney's famous Vivid Festival which drew in 3.28 million people this year is one of the most anticipated events to visit to enjoy lights, performances and food. There are also plenty of business conventions, such as the World Business Forum Sydney and other business networking events that are great for learning or being presented with new opportunities.

There is also plenty to do in North Sydney.

After its bustling Monday-to-Friday business environment, the weekends quickly become a relaxed and family-friendly location. North Sydney is great for enjoying nature, with many beautiful parks lining with the harbour and giving stunning views of the harbour bridge.

You can also visit the farmers market at Ted Mack Civic Park which happens twice per month, and is a great place to check out some stalls.

Thinking about getting your own office space in Sydney? Contact us to receive expert guidance throughout your journey.

People who read this article also read the Melbourne Office Space Guide and Adelaide Office Space Guide.