Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven

Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven
Presented to you by Property Smart Investor- A Real Estate Online Education and Discussion

Saturday, 28 March 2015

What is Grade A Office? What is Grade B Office? What is Grade C Office? Are Offices Graded in Singapore? Is there any Authority (URA, BCA, CEA) have any criteria in Classifying Offices in Singapore? BOMA Classification of Offices


GSH Plaza Commercial Office For Sale at Raffles Place Dist 1 Prime Office New Launch with Grade A office features

GSH Official Developer Sales Website to view Cite Plan, Floor Plan, Artistic Impression and Project Details

What is Grade A Office? What is Grade B Office? What is Grade C Office? Are Offices Graded in Singapore? Is there any Authority (URA, BCA, CEA) have any criteria in Classifying Offices in Singapore? BOMA Classification of Offices

Is offices graded in Singapore? Is Offices Classified in Singapore?
Will URA and CEA look into grading or classifying commercial offices in S'pore?
If there is no standardization from authority, then it will be subjected to individual interpretation of industrial concensus. This can be very loose and confuse the public.

Example of Grade A buildings based on Industrial players





A Check with URA via email

To: URA

Subject: Can email to me a list of Criteria for Grade A, Grade B and Grade C offices in Singapore?

Hi

I would like to know how URA define Grade A, Grade B and Grade C offices in Singapore?
What are the criteria it has to fulfil in order to be termed as Grade A, Grade B and Grade C offices in Singapore. Can please advice me?

Can email to me a list of Criteria for Grade A, Grade B and Grade C offices in Singapore?
Hope to hear from you soonest. Thank you


URA DCD Repled on Feb 26, 2015

CIS - case number 15022635625



 

URA DCD (URA)

Feb 26
Dear Daniel,
We do not have the definition for Grade A, Grade B and Grade C offices.  We are not sure if you are referring to Category 1 and Category 2 offices found in the REALIS Data Dictionary. The extract of the definition is as shown below :
Category 1 Office Buildings: Category 1 office buildings are defined as those located in core business areas in Downtown Core and Orchard Planning Area which are relatively modern or recently refurbished, command relatively high rentals and have large floor plate size and gross floor area.
Category 2 Office Buildings: These are the remaining office buildings which are not included in Category 1 office buildings.
Regards
Customer Service Unit
Development Control Group
Urban Redevelopment Authority
Developers follow some industrial standards to Grade the building offices they are marketing.

Industrial standard
1) Floor plate above 10,000sf
2) Column free
3) Lobby ceiling height greater than 5m
4) Meet Fire safety standard by SCDF
5) Security check point at lobby area
6) Sufficient parking space

Check Building Owner Manager Association (BOMA) International 
                                     
​For the purposes of comparison, office space is grouped into three classes in accordance with one of two alternative bases: metropolitan and international. These classes represent a subjective quality rating of buildings which indicates the competitive ability of each building to attract similar types of tenants. A combination of factors including rent, building finishes, system standards and efficiency, building amenities, location/accessibility and market perception are used as relative measures. The metropolitan base is for use within an office space market and the international base is for use primarily by investors among many metropolitan markets.
Building amenities include services that are helpful to either office workers or office tenants and whose presence is a convenience within a building or building complex. Examples include food facilities, copying services, express mail collection, physical fitness centers or child care centers. As a rule, amenities are those services provided within a building. The term also includes such issues as the quality of materials used, hardware and finishes, architectural design and detailing and elevator system performance. Services that are available readily to all buildings in a market, such as access to a subway system or proximity to a park or shopping center are usually reflected in the quality of the office market and therefore all buildings are affected. The class of a specific building may be affected by proximity only to the degree that proximity distinguishes the building (favorably or unfavorably) from other buildings in the market.
The purpose of the rating system is to encourage standardization of discussion concerning office markets, including individual buildings and to encourage the reporting of office market conditions that differentiate among the classes. Nevertheless, BOMA International does not recommend the publishing of a classification rating for individual properties.

Metropolitan Base Definitions

Class A - Most prestigious buildings competing for premier office users with rents above average for the area. Buildings have high quality standard finishes, state of the art systems, exceptional accessibility and a definite market presence.
Class B - Buildings competing for a wide range of users with rents in the average range for the area. Building finishes are fair to good for the area. Building finishes are fair to good for the area and systems are adequate, but the building does not compete with Class A at the same price.
Class C - Buildings competing for tenants requiring functional space at rents below the average for the area.

International Base Definitions

Investment
Investment quality properties are those that are unique in their location in the best metropolitan markets in the world, their design and construction quality, the solidity of the tenants and the tenant markets that they serve and the outstanding building management that is responsible for operating and maintaining them. These properties stand out as leaders not only within their own metropolitan areas but also within the international investment community.
Investment properties usually contain state of the art mechanical, electrical, life safety, elevator and communications systems. Their finishes are of the highest standards and they often provide the occupants with a mix of amenities - in variety and quality - that is exceptional. Often they house a lead tenant for whom the property is named and usually they are located in a premier metropolitan area. Investment grade properties need not be considered to be "trophy" material but trophy properties are usually investment grade.
Institutional
Institutional grade properties are those of sufficient size and stature that they merit attention by large national or international investors, hence the name. These properties are of good design and construction, although they are rarely monumental in design or the use of construction materials. They are typically large. They may be located in secondary metropolitan areas, but invariably they will have a very stable tenant base.
Speculative
Speculative properties usually will conform to popular design conventions (at the time that they are constructed), but without the use of exceptional materials or construction methods. The design and construction of these properties emphasizes functionality, in contrast with aesthetics or image and the design rarely reflects the image of any particular tenant or occupant. To attract national or international attention, speculative properties must be relatively large, although minimum size requirements are lower for properties located in premier office markets. They are often occupied by multiple tenants.

BOMA Office Grading or Classification Guide pdf

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My Tribute to Mr Lee Kuan Yew - Remembering Lee Kuan Yew - The world should know his stories, his contribution and his final journey - The Legend - He will be in the heart of every Singaporean 


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