Residential vs Commercial prices

We thought it would be fun to compare some of our apartment rentals with small office rentals in the City of Adelaide. We looked at this on a "per square metre per annum" basis (shortened to 'per sqm' for convenience) and on a gross rental approach (ie the rental includes the property outgoings such as council rates, SA Water charges and body corporate fees).

The office building we picked is called Aurora on Pirie, and the rental includes a sky deck rooftop recreational facility with a gym, sauna, spa and lap pool. Carparking is not included.

Depending on the floor level you want, the rentals are from $460 to $480 per sqm.

So what about apartments?

This week in 223 North Terrace (next to David Jones) we leased a 1 bed and study apartment for $395 per week unfurnished but including whitegoods. Just like the offices in Aurora, it has access to a gym, spa, sauna, and lap pool, and also has no carpark. This apartment has an area of 62 sqm, so it works out to be $332 per sqm.

In the same building, a fully furnished apartment with a carpark and a North Terrace view, 2 bedrooms and 2 bathrooms will cost you $650 per week or $345 per sqm.

	Office	Apartment
Rate	$460 to $480 per sqm	$332 to $345 per sqm

So if you want to live and work in the city you should consider renting an apartment and meeting your clients in coffee shops. It's a lot cheaper and the coffee is a whole lot better than what you drink in the office!