There's no doubt that doing business in the British Capital is a great opportunity for any company to thrive and prosper. London is a world-renowned commercial hub that attracts businesses of all shapes, sizes, and natures from all over the world. With the current uncertainty surrounding Brexit, many predicted investment in London to decrease somewhat, but as yet, this has not materialized, suggesting the grandeur of London outweighs any short-term uncertainty. When investing in commercial office space London remains as attractive as ever. However, with fast moving market conditions, businesses need to invest wisely, particularly with regards to their office space. One way of doing this is to maximize flexibility by renting London serviced offices.
The Main Advantages of Renting London Serviced Office Space
When it comes to renting commercial office space London can minefield of information, so it is extremely wise to do your research, as well as pick an experienced agency to help guide you through the process. Once you understand a little more about the market, you'll certainly benefit from a great deal from any number of luxury offices London offers. Consider the 5 major factors you should evaluate when looking for London serviced office space for your business.
Nothing to Pay Upfront
When looking to rent commercial office space London offers many different types and styles of office space. The most straightforward office rental comes in the form of serviced offices, a solution that is delivered fully equipped and ‘ready to go’. This ‘plug n play’ solution allows businesses to avoid all up-front costs, and hassle of having to conduct the fit-out yourselves and organise the installation of data and communications infrastructure and hardware, with connectivity, also provided and managed for you. Added to this, occupiers can also expect the office space to come with furniture and storage. What's more, there would be no need to hire a receptionist or daily cleaners as these important elements of maintaining your own office space are taken care of as part of the all-inclusive monthly rent. Taking London serviced office space offers unrivaled flexibility, as well as a time and cost efficient way to gain a foothold in one of the most historical & commercially thriving cities in the world.
Whether your business is a start-up, a growing SME or a corporate business, current economic conditions, coupled with a level of short-term uncertainty surrounding Brexit are dictating the growing trend and need for flexibility, with a larger number of businesses than ever opting not to get lock themselves into a lengthy contract. As such, even in the most opulent of luxury offices London will provide flexibility.
When you opt for serviced office space, you don't have to worry about any of the usual lengthy leases, typically a minimum term of 5 years, cementing you into one space and leaving you with very little option to adapt to changing business conditions. Instead, you can sign flexible licence agreements, with the option to expand or contract at any time. Typically, these convenient rental agreements are arranged in 3-month increments, giving you the option to rent for 3, 6, 12 or even 24 months in a row. There are also a growing number of serviced offices offering monthly rolling contracts.
Setup in a Premium London Location
Location Location Location! As with any kind of real estate, location is often the first and most important consideration. Over the past 2 years, there has been a huge increase in the number of serviced office buildings, with studies in early 2017 showing approx. 3,000 serviced offices across the UK. One of the main attractions of London serviced offices, aside from the flexibility & all-inclusive pricing, is that most are situated within a premium central London location, close to transport links and within buildings that ooze history, grandeur, and prestige. There are now more serviced offices than ever in Prime London locations such as Mayfair, St James, Soho, Fitzrovia, Liverpool Street, Bank, Old Street, Shoreditch, Euston, King’s Cross, Farringdon, London Bridge and Victoria.
Aside from the specific location, there are even serviced offices within some of London’s most prestigious and famous landmark buildings such as The Gherkin, The Shard, Salesforce Tower, The Cheese Grater and Berkeley Square House. Whether your business is seeking a more traditional business centre or something with a little more of a quirky and creative look and feel that really speaks to your company culture, the diversity within the London serviced offices market has never been greater.
All-Inclusive Monthly Costs
One of the major benefits of renting a serviced office is that all costs associated with running your office are included within the monthly rent and are paid as part of one easy-to-understand monthly direct debit. Bills are fully inclusive of rent, business rates, service charge, utilities, office furniture, daily cleaning, IT connectivity and telephone handsets, as well as access to all kinds of communal areas such as kitchens, break-out areas, WC’s, daily cleaning and a manned reception. A growing number of serviced offices are now also offering free-to-use amenities such as an on-site gym, showers and roof terraces. The only additional costs are usually telephone call charges and meeting room usage, with all serviced offices offering meeting rooms hireable by the hour, half day or full day, often at discounted rates for in-house tenants.
One interesting point worth noting, is that businesses occupying a serviced office have so far avoided feeling the effects of the recent rise in business rates. That is not to say the knock on effect will not be felt in the future but as business rates are included within the fixed monthly cost, serviced office occupiers have not been immediately or directly affected.
Expand and Contract at Any Time
Businesses expand and contract for all kinds of reasons, and this would pose a large problem when leasing office space. However, one of the major benefits of renting serviced offices is that the businesses are afforded the flexibility to expand and contract at any time during the contract. This means that if your business needed extra space to accommodate a growing team, your serviced office provider would offer you alternative sized offices in the same building, for a simple move with minimal disruption. There would be no need to enter into a new contract, they would simply adjust the monthly bill accordingly and would supersede the original deal for the remainder of the contract.
The London serviced offices market is among the best and most diverse in the world and for good reason. Consider the factors outlined above when searching for a new office for your business. Our experts would be delighted to discuss your requirements in more detail and conduct a search on your behalf. Take advantage of the economical way of doing business in the UK by renting London serviced offices.