Serviced office, flexible office, incubator, co-working space, Managed Offices London: there are lots of terms to describe what are, basically, serviced offices.
Serviced and flexible office contracts can be short, medium or long-term. You only have one bill – the fee (rent). And spaces come ready-fitted with furniture and IT infrastructure. You can get to work almost immediately and move somewhere else in the city just as fast.
Historically, serviced offices were used by smaller businesses, and as project or overspill space for larger companies. These ‘off the shelf’ or ‘plug and play’ environments were rarely larger than 50 desks.
But today, many sites also offer more tailored, enterprise options. Designed for businesses with 50-1,000+ people, some have distinct brands that suit particular industries or working styles. They also are becoming increasingly attractive due to the relatively reduced costs and timings compared to traditional leasing.
A flexible choice
You can take on private floor plates or entire buildings. There is usually a wealth of choice when it comes to the spaces too, from basic rooms with desks to über cool environments with gyms, terraces, or their own, distinct cultures.
Equally, it is easy to get more floor space when you need it; or scale your operation down. And because you share the building, you might also find opportunities to collaborate with neighbourly firms.
Tailored for you
As you would expect, we have access to the entire market, as well as off-market locations that have not yet been launched. Once we identify a location, we can take a brief from you and negotiate a fit-out so that, as well as enjoying all the building’s services and amenities, you can thrive in a space that is right for you.
Pros
- Simply walk in and start work.
- There are minimal set-up costs.
- There is only one all-inclusive monthly invoice.
- No management or repair costs.
- Easy to increase or reduce space.
- You can use sister sites for meetings and networking.
Cons
- Not 100% tailored for your needs.
- Some serviced office brands aren’t suited to particular industries.
- Unless part of a fit-out, you share kitchens, meeting rooms, and break out areas with other businesses.
- Usually costs more over long periods than leasing.
Managed offices
Managed offices provide both flexibility and the ability to take control of your own space.
Often confused with serviced offices, managed offices share many of the same characteristics. They are both simple, flexible solutions that remove the need for a property management function, which is the responsibility of the provider rather than the occupants. However, unlike serviced offices, managed offices do not provide shared spaces as they are self-contained, often delivered floor by floor as a solution or self-contained building. As a result, the occupant is able to take full control over their environment, brand it accordingly and the managed operator will take care of the services behind the scenes.
Our relationship with the workspace is changing and managed offices are proving an increasingly popular choice for companies of all sizes. For some clients, having reached the point where they need a place of their own, they are seen as a great stepping stone from a serviced office. For other, larger organisations who require more flexibility than would otherwise be provided by a traditional lease, represent the perfect compromise. Our team has seen an increase in occupiers from 2000 sqft and upwards including managed solutions in their relocation search.
Flexible terms
As a team, we have noticed the average term length ‘trend’ being secured is between 2 – 3 years. This ensures that should the occupant’s needs change, they are not locked into a long-term agreement
Managed offices can be delivered typically from 1 – 5 years and the length of the term will dictate the cost per month. This is due to amortising services, fit-out, and bespoke scenarios into the package.
Contractual documentation to secure the office solution will typically be a short-form lease or such alike.
Your own space
It’s your space, so you can configure it in any way you like. That means everything from how many meeting rooms you might want, to where and how your staff will work, whether you require a canteen, a showroom or conference room, or any other facilities your business might need. And, because it is yours and yours alone, it can be made to truly reflect both your brand and its culture. A benefit in securing a managed office, is the fact the operator will take the pain out of the process in delivering your unique space solution.
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Still unsure?Not sure if a serviced office is 100% right for you? Read about the advantages of a traditional leased property.
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