Vancouver
Vancouver, a coastal seaport city in British Columbia, is the third most populated metropolitan area in Canada. It is one of the nation’s largest industrial areas, principally due to its Pacific Rim location and links to the country’s transcontinental highway and rail routes. Forestry and mining is big business in Vancouver while more recently it has also become a centre for the biotechnology, software development and film industries.
The city consistently ranks in the top five cities to live in by Mercer’s Quality of Living Worldwide City Rankings and is a prime reason for companies to set up business there.
The location
The Metro Core area of Vancouver makes up two-thirds of the city’s jobs and encompasses Downtown, Midtown, Downtown Eastside and False Creek Flats. Since 2009, the area has seen a significant amount of office development, with further major developments planned in the coming years. Richmond city planners are one year into their update of its official plan for the city centre. The plan is anchored by the Canada Line and includes the development of nine transit-oriented village centres. The population of the area is expected to grow from about 40,000 to 120,000 residents.
Looking for an office in Vancouver
Business looking to set up in Vancouver should seriously consider Downtown because it is the most popular area, with several neighborhoods and easy access to the six subway stations running on three SkyTrain lines: the Expo Line, Millennium Line, and Canada Line. A good variety of businesses are found in Downtown, making it a diverse and fast-growing market for upcoming companies.
Like any other large city having a prestigious and recognizable address can be important, Companies looking for a well-known business address should consider West Georgia Street, West Hastings Street or Homer Street. Being in or near prominent high-rises like the Canada Place, World Trade Center and HSBC are all about the image.
Costs
Vancouver provides a wide range of options in terms of space and price (based on whole office price):
• Downtown - 95 sq. ft. - 4,000 sq ft - $850-$5K
• Richmond - 100 sq. ft. - 5,000 sq ft - $900-$10K
• Burnaby - 100 sq. ft. - 2,000 sq ft - $700-$2,300
• Coquitlam - 100 sq. ft. - 1,000 sq ft - $650-$1,500
The prices for executive office suites fluctuate depending on the location and requirements. However, it is worth keeping in mind that these costs usually cover amenities, which may include Internet, meeting rooms, kitchen facilities, reception services, AV equipment and parking.
Office sizes
Executive suites offer flexibility and center owners pride themselves on staying on top of the latest technology. They are also really embracing coworking, multi-location and hot desking in Vancouver, in a bid to accommodate all of a company’s needs.
Instant offer a great variety of office sizes and solutions, and are able to accommodate most inquiries, from one person through to 100 or more depending on the specifics.
Why choose Vancouver?
Vancouver is an ideal city in which to base your business. As mentioned, it is one of the most livable cities in the world. And it’s not hard to see why. Stunning vistas, clean air, an abundance of open green spaces merge with a bustling commercial hub and the benefit of being on the Pacific Rim.
Five things you probably didn’t know about Vancouver:
1. Stanley Park is a 1001-acre park that borders downtown Vancouver and is 10% larger than New York’s Central Park
2. Greenpeace was founded in Vancouver, in 1971
3. When opened in 1929, the Marine Building in downtown was the tallest building in the British Empire
4. Vancouver was incorporated as a city in 1886; the same year that Coca-Cola was introduced and the first petrol automobile was invented
5. The Great Vancouver Fire of 1886 destroyed the vast majority of buildings in the newly incorporated city
A closer look at Vancouver
The following districts are the most popular areas in which to rent office space:
Downtown:
• Downtown is the south-eastern portion of the peninsula in the north-central part of the City of Vancouver. It is the business, commercial, cultural, financial, government, and entertainment center of the city and the Metro Vancouver and Lower Mainland regions. Besides the readily identifiable office towers of the financial and central business districts, Downtown Vancouver also includes residential neighborhoods in the form of high-rise apartment and condominiums, in Yaletownand Coal Harbor. Other downtown neighborhoods include the Granville Mall and Entertainment District, Downtown's South, Gastown, Japantown, and Chinatown.
• Downtown is particularly popular from the engineering and technology sectors and is home to Microsoft, Amazon, Facebook and Salesforce, to name a few.
False Creek Flats:
• This area of Vancouver is located close to Downtown but benefits from having lower rental costs and great access to transit. Textiles and fashion, construction, arts and culture, automotive and logistics and food businesses largely make up this area. Four universities are also located in False Creek Flats, making it a strong area for graduate recruitment.
Richmond:
• Richmond is located on Lulu Island at the mouth of the Fraser River, and also encompasses the adjacent Sea Island and some smaller uninhabited islets to the north and south. • Neighboring communities are Vancouver and Burnaby to the north, New Westminster to the east, and Delta to the south. The Strait of Georgia forms its western border.
• Richmond is connected by a system of bridges and tunnels to Vancouver and Delta, and through the New Westminster suburb of Queensborough (on eastern Lulu Island) to the "mainland" portion of New Westminster.
• The area is popular with companies from the high-tech industry, with tenants including MacDonald Dettwiler and Associates.
Burnaby:
• Burnaby is a city in British Columbia, Canada, located immediately to the east of Vancouver. It is the third-largest city in British Columbia by population, surpassed only by nearby Surrey and Vancouver. Due to its elevation, the city of Burnaby experiences quite a bit more snowfall during the winter months than nearby Vancouver or Richmond.
• It is home to various technology companies and businesses involved in heavy industry that include Electronic Arts, Chevron Corporation, Petro-Canada, Telus, Mercedes-Benz, ebay and Nokia.
Coquitlam:
• Coquitlam is a city in the Lower Mainland of British Columbia, Canada
• Mainly a suburban city, Coquitlam is the sixth-largest city in the province and is one of the 21 municipalities comprising Metro Vancouver.
• Coquitlam borders Burnaby and Port Moody to the west, New Westminster to the southwest, and Port Coquitlam to the southeast.
• Its residents commute to work in Vancouver, Burnaby, and other Metro Vancouver suburbs.
• Companies of note that have a home here include Coca-Cola, Sony, and Rolls-Royce.
Want to find out more?
If you’re looking to move into the area, or simply require more information, contact Instant Offices’ specialist local consultants. Email our team or call us and we'll be delighted to help you.