Are you searching for your first (or next) HQ and are confused by all the different types of office spaces out there?
Have you just come across the term ‘serviced office’ and are struggling to get to grips with what this is and whether it’s the right choice for your business? Don’t worry; we’re here to simplify it all.
In this handy guide, we explain exactly what a serviced office is and compare it to a traditional leased office. We also highlight the key differences between the two types of workplaces to help make your choice as easy as possible.
A serviced office is a self-contained office space within a communal building. You’ll typically find several serviced offices under one roof, ranging from small ones with three or four desks which are ideal for new businesses and startups, to large ones that span an entire floor, which are great for established companies with large teams.
See also: Serviced office: what it is, how it works, and its benefits
See also: Can a tech company use a serviced office?
See also: 7 reasons to use a serviced office in Covent Garden
Each serviced office is move-in ready, meaning it’s fully furnished and set up with all the tech and equipment you need to get down to business from the moment you arrive. You’ll have desks, chairs, storage facilities, and WiFi ready to go, so there’s no need to waste time on the finer details - simply get plugged in and focus on what matters.
The building manager rents out each serviced office individually to organisations and professionals. So, your serviced office is private and accessible only to your employees and visitors.
However, communal areas like bathrooms, kitchens, and outdoor spaces are normally shared between tenants, so expect to see your neighbours at breakfast or on your coffee break. You can also make use of private meeting rooms as and when you need them, and they are normally bookable on an ad-hoc basis.
Different serviced office providers will offer their own unique features on top of the above. In general, here’s what makes serviced offices truly special and attractive to business owners like yourself:
Having a private serviced office doesn’t mean you miss out on networking and socialising. You can meet other tenants, make meaningful connections, and bond with your team in the casual setting of a business lounge.
Are you running late or trying to cut back on everyday spending? Serviced offices typically have fully stocked kitchens ready for you to enjoy a warming cup of tea, recharge with a bite to eat, or accommodate your daily coffee fix.
A good serviced office provider will also offer guest reception services. This means a professional is always on hand to welcome your staff and visitors and make their experience more pleasant and memorable.
Don’t worry about forking out hundreds of pounds on office cleaners - serviced offices normally come with daily cleaning included in your monthly fee. That way, you can enjoy a pristine workplace every day.
Adequate broadband with on-site IT support is also normally included in a serviced office. Key equipment like phones, screens, and cameras in the meeting rooms facilitate brainstorming and conference calls.
A leased office is a traditional commercial office that you rent from a landlord and pay for monthly. The whole office is for your private use only, and there are no shared spaces.
However, many leased offices are located in large buildings, with different companies situated on each floor.
Here are the key differences between a serviced office and a leased office.
One of the biggest distinctions is the price. A serviced office is far more affordable, which is why many startups choose this type of workspace over a leased office.
Prices vary depending on the size, condition, and location, but to give you a rough idea, here are the average rental prices for a leased office in London:
Meanwhile, you can expect to pay around £550 per desk per month for a serviced office in the heart of London. They also come with all-inclusive fees, so there’s no need to worry about high upfront costs or ongoing expenses like utilities and maintenance, making them considerably more affordable than leased offices.
Another key difference between a serviced office and a leased office is the level of flexibility they offer. Leased offices normally require an upfront commitment of up to 12 months, and they can lock you into a rigid contract for several years.
However, serviced offices are specifically designed as a short-term workspace solution. Providers may ask for a minimum booking (e.g. six months), but there are no lengthy, inflexible agreements, making it much easier for your business to be agile and operate efficiently.
We’ve seen that rent prices vary between locations, making some regions simply inaccessible for SMEs with small budgets. For instance, if you run a creative or tech company and want to position yourself amongst your competitors in Soho, a leased office in this area comes with a heavy price tag. However, choosing a serviced office instead allows you to access these prime locations more easily.
It’s not just about setting up your HQ around competing companies - you may want an office with plenty of local amenities and great transport links in an area that impresses your visitors. Serviced offices are flexibly priced, giving you more choice in where you work without compromising on location.
You might face certain delays with a leased office, like waiting for the previous tenant’s agreement to end, but a serviced office is normally move-in ready. If you have a certain date in mind, let your building manager know, and they should be able to accommodate your needs based on availability.
A leased office is generally empty and only comes with the features you install yourself. Some higher-quality offices might include a communal gym or coffee shop, for example, but you’re generally responsible for the amenities within your own office, which all cost money to implement.
Modern serviced offices come with a range of exciting extras that are included in the price. You’ll find things like bike racks, shower rooms, and quirky breakout spaces that help you and your team perform at your very best.
Ready to experience all the benefits of a serviced office? Look no further than 71-75. We have over 30 pet-friendly serviced offices with ergonomic furniture, all-inclusive fees, supercharged internet connectivity, fully-equipped meeting rooms, and a brand-new rooftop terrace.
You’ll also be working in bustling Covent Garden, with plenty of iconic attractions nearby, countless restaurants and local cafes, and excellent transport links.
Book a tour of your new and exciting workspace today, or call our friendly team on 020 3184 8770.
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