The serviced office market in the UK has boomed over the last 10-15 years. It is now estimated to represent over £500m per year across the UK.
Serviced offices provide a compelling alternative choice to the traditional lease approach. It enables tenants to have greater flexibility and control when it comes the duration of their contract with the building provider, as they are typically much shorter in length, and only require up to 1-3 months in notice to end the agreement.
Serviced offices provide business owners with greater flexibility when it comes to growth options and provides a supportive infrastructure against this inherent uncertainty.
This is because the serviced office providers encourage businesses to take an initial amount of space they need (in the form of the number of desks).
If they suddenly need more office space due to positive business results, those providers are able to accommodate this headcount growth in a responsive and flexible way. They will find more space for their occupants in the existing building or relocating them to a building close by.
With serviced offices, payments are usually structured as an “all in” price for each desk taken. This includes a whole host of amenities as part of that overall price, such as cleaning services, business rates, rent, snacks, toilet facilities, photocopying and stationery, meeting rooms, breakout areas and secretarial support.
It can sometimes appear more costly compared to a traditional 5-10 year commercial lease. However, the comparison is often only made against the rent portion of a commercial lease. Commercial leases don’t charge business rates and other costs directly as part of the traditional longer term lease pricing model as they are borne separately by the tenant.
When compared in total, there is often not a huge difference in cost between the two options and the marginal increase for a serviced office may be justified by the added flexibility, comfort and control serviced offices provide business owners and tenants.
OFFICES REFURB has an expert team with a wealth of knowledge when it comes to the serviced office market.
We have access to hundreds of serviced offices across the UK, spanning all the major cities from London, Manchester, Newcastle, Birmingham, Bristol, Leeds, Southampton, Brighton, Bournemouth, Liverpool, Aberdeen, Belfast, Cardiff, Coventry, Edinburgh, Glasgow, Sheffield, Leicester, Bradford, Nottingham, Hull, Stoke, Derby, Portsmouth, Plymouth, Northampton, Reading, Cambridge, Oxford, Wolverhampton and Reading as well as many of their neighbouring cities and towns.
We have dedicated local agents and strong relationships with the full range of serviced office building providers in each location. This enables us to offer, to interested tenants, an impressive array of competitively priced serviced offices. All for different budgets.
All our serviced office providers boast all the typical amenities including cleaning services, meeting rooms, break-out areas and as standard all come fully equipped with desks, internet and power.
If you’re interesting in exploring this booming market, contact us below to see what your options are.
