How Renting Serviced Office Space Compares to Traditional Offices
Whether you’re ready to move into your first office or are scaling to a larger location, you’re possibly considering two office types: serviced offices or leasehold (traditional) offices. In this guide, we’ll define what serviced and leasehold offices are and highlight how renting serviced office space compares to traditional offices.
What is a Serviced Office?
A serviced office is kitted out with the facilities and amenities a business needs to start working as soon as they arrive. The building itself is usually run by a serviced office provider who might own the building or lease it from a landlord. You can rent a serviced office monthly, making it a flexible, convenient, and risk-averse arrangement.
Most serviced offices feature the following:
• Furniture and equipment – You won’t have to worry about furnishing your serviced office because most come with desks, chairs, lockers, printers and other crucial equipment.
• Internet and phone – High-speed internet and phone lines are already in place and included in the monthly rental price, so you won’t have to set them up when you move in.
• Staffed reception – The serviced office operator will have their own staff running the building – including in the reception area where someone will be on hand to meet and greet your visitors.
• Meeting and conference rooms – As well as individual offices, serviced workspaces also feature dedicated meeting rooms that are equipped with AV technology (catering is an optional extra).
• Cleaning and maintenance – There is no need to hire your own cleaning or building maintenance staff because these are also handled by the serviced office provider.
• Security and access – The majority of serviced office operators have access control systems to ensure that only occupiers can gain entry to their office and meeting rooms.
• Utilities – Your office’s electricity, water, heating and cooling is included in the monthly rental price, and the serviced office provider may also be able to handle your business rates for you.
What is a Leasehold Office?
A leasehold office is a more traditional workspace solution where you lease the property from a landlord for a set period – anywhere between a few years to a decade. Unlike a serviced office, it’s a long-term commitment that binds you to specific terms and conditions.
Leasehold offices aren’t usually furnished, so you’ll have to do this yourself. You’ll also have to arrange internet access, phone lines, cleaning, maintenance, and all the other aspects the provider would handle if you chose the serviced office route instead.
Leased office space is usually priced on a square foot (sq. ft) basis, while serviced offices are marketed on a price per desk.
What are the benefits of choosing a serviced office over a leasehold office?
Choosing a serviced office over a leasehold office can offer various advantages.
• One of the biggest benefits comes in the form of flexibility. You can stay in a serviced office for as long as you need to and aren’t bound by as many stringent terms and conditions.
• It’s easier to scale up as your business grows or downsize to a smaller office if you need to, either in the same building or in another serviced office. In other words, you’ll avoid committing to a long-term contract that could limit your ability to grow with confidence.
• Setting your business up for success in a leasehold office can be expensive because of all the upfront costs associated with furnishing it, etc. With a serviced office, you can move in and start working on the same day. Everything is included in the price, making it easier from a cash flow standpoint.
• Moving into a serviced office can also benefit your business’s image and reputation. Providing your employees with a modern and comfortable workspace environment will help set them up for success at your organisation, and the social aspect of working alongside team members (and other businesses in the building) can help alleviate feelings of social isolation.
• As well as attracting and retaining the talent that your business needs to thrive, you’ll impress your business partners and clients with professional meeting rooms and breakout spaces – all without having to commit to a lease of three years or more. Sounds like a win-win situation, right?
Serviced Offices – The Bottom Line
A serviced office is one that comes with facilities, amenities, and a convenient flexible agreement. A leasehold office requires a commitment of three to ten years and is more of a blank canvas, so although you will have autonomy over the look of the office, you will need to foot the furnishing bill.
If you’re looking for a serviced office in the UK, Freeofficefinder can match you with the perfect space for your needs. Start by letting us know what your requirements or use our office search platform to start viewing offices in your desired location. Our service is free of charge for businesses.
