Further reading
In choosing office space, it’s worth considering the benefits of serviced offices and managed office services. For starters, these kinds of workspaces save you from researching a range of different workspaces and navigating the complex lease agreements offered by each of them, and working out what new equipment you’ll need to purchase.
One of the biggest considerations when choosing office space is the length of your lease. Serviced offices are perfect for new businesses, or organisations that are growing quickly, because the rental terms for serviced offices are short-term and offer great flexibility. This in turn allows you upsize or indeed downsize in line with your business plan. They can also be a good choice for smaller businesses with remote and hybrid staff that want to keep a central office that employees can use a few days a week.
Managed offices are also flexible, allowing businesses to negotiate contracts according to their requirements. Whether you choose a short-term or long-term lease will depend on where you are in your business plan, your business’s needs and how you see those changing over the next few years. The average lease for a managed office is typically one to three years, making it a more suitable option for businesses and SMEs looking to scale up.
Another benefit of managed office services is that they give you the flexibility to customise the workspace to create your own look, feel and company identity.
With both managed and serviced offices, you will only pay for the space you need, which can help to free up cash for your other business priorities. The great thing about a managed office is that all the costs are rolled into a single monthly or quarterly fee with no hidden charges. This gives you total cost transparency and helps you budget accordingly. Typically, your rent and utility bills, allocated parking, on-site security, waste and recycling services, and cleaning of communal areas are included in your fees. You will also have an assigned point of contact to address any issues and provide any support you need.
One of the key benefits of serviced offices is that your rent covers the number of desks you’re using, and nothing more. That makes it a great way for small businesses to keep their costs down. If your business is growing and you need more space, the flexible leases allow you to move to a larger office, potentially in the same building, allowing for a fast and seamless transition. That makes future expansion easy and helps you control your costs in line with your income.
The last thing you need when moving into a new office is a lengthy delay in operations while you set up your space. That’s something both serviced and managed offices can help you with.
In a serviced office, everything you need will already be in place, so you can move in and get to work immediately. Your office will be furnished and pre-cabled, with internet and telecoms included in your serviced office package. You’ll usually be expected to use your own computer equipment in a serviced office, so you may have to spend a few minutes setting it up before you can get down to business.
Like a serviced office, managed offices are also difficult to beat when it comes to maintaining the continuity of your operations. Once you have chosen how you want to configure your office, your managed office provider will do the customising while you continue to operate from your existing location. As a third party is doing all the work, you can set up a managed office more quickly than a traditional office space, which means there’s little to no downtime when moving in.
There are three different ways you can rent office spaces for your business. You can go for a traditional office rental, a serviced office, or a managed office.
With the ‘traditional’ office rental, you’re paying for a completely blank canvas – just the space, and nothing more. This then leaves you responsible for everything required to turn that empty space into a functioning office, including the set-up, utilities and furniture, and filling it with all the office equipment you need.
What’s becoming more and more prevalent is to rent either a serviced office or a managed office, particularly for small and medium-sized businesses and we’ve touched on the benefits of these earlier.
The simple answer is almost anyone. Smaller and home-based businesses rent serviced offices because the benefits they provide are such a good fit for their needs. However, even some global companies rent serviced offices if they want a local hub for their employees or they’d like an affordable way to try out a new location without committing to a long-term lease.
Serviced offices tend to be popular with:
Managed office services tend to be more popular among larger businesses across a broad range of sectors. They are the perfect solution if you want a purpose-built and branded workspace that can help you optimise your efficiency and impress your clients.
Managed offices are often used by:
Businesses have so much more choice than ever before with their working environment and with many businesses embracing a more agile approach, the benefits of serviced offices and managed office services can make them an excellent fit.
Our CoreOps team https://www.coreprop.co.uk/coreops/ are RICS Chartered Surveyors who work with Landlords, Tenants and Workspace Operators in providing a ‘Hotelisation of the Workplace’ service delivering an all-inclusive, hassle free and cost effective commercial environment.
To find out more about our services and for a direct cost comparison vs a traditional lease please call 0203 143 0123 or email us at info@coreprop.co.uk
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