What is a serviced office?
A serviced office is one that’s all set up and ready to go from the date you move in. Utilities, bills and the day-to-day running of the building is managed by another company, so you’re free to hit the ground running without having to worry about installing broadband or hiring reception staff.
Serviced offices tend to offer much more flexibility and shorter-term contracts than traditional private offices – a few months rather than a few years – which is great news for businesses who aren’t sure where they’re going to be a couple of years down the line.
There are a range of serviced office types available, from hot desks to fixed desks in shared spaces, to private office suites for teams and larger organisations.
What facilities do serviced offices provide?
Most serviced offices will provide you with all the basic essentials as part of your all-inclusive rent. You can expect:
- High-speed internet
- Mail services
- Printers and photocopiers
- Audio-visual equipment
- Kitchen facilities
- Cleaning services
- Security staff
More luxury serviced offices offer additional amenities on top of these – some as part of their all-inclusive rent package, others on a pay-as-you-use basis.
- Meeting rooms
- Unique event spaces
- Reception staff
- Bike storage
- Gym facilities
- Shower rooms
- Fitness classes
- Childcare facilities
- Roof terraces
- Telephone answering services
- Stationery supplies
- Travel services
What are the benefits of serviced offices?
Serviced offices can be available for anything between one month and one year and usually have renewable agreements. This means they can provide flexible, temporary workspaces that suit your needs and don’t tie you down to long-term contracts.
As you pay in an all-inclusive fee each month, budgeting becomes very easy. You know what you owe each month and won’t have any unexpected charges to throw you off.
Self-managed private offices are often labour-intensive to run because of maintenance demands. A serviced office saves you precious time as well as money.
Many more luxury serviced offices provide high-quality facilities, such as event space, baristas, and gyms, that businesses wouldn’t otherwise have access to. This can be hugely helpful in attracting and retaining talent.
Is it more expensive to rent a serviced office?
While the cost of some serviced offices might appear high in comparison to traditional office space, factor in the savings you’ll make from having no additional expenses and it can work out to be much more cost effective. Business rates, local authority charges, electricity, broadband, heating, air conditioning, security, maintenance, insurance, extra facilities – it’s all taken care of.
One reason for cost savings is that serviced offices are usually licensed rather than leased. This is a simpler form of agreement that allows clients to bypass expensive solicitor fees. The flexible terms also mean that companies don’t pay for space they don’t need, as they are free to take on more only when they need it.
Serviced offices either charge a flat fee for a desk, or a fee per-square-foot/per office. Renting desks is a better fit for small business, while renting per office or per-square-foot is more suitable for businesses that have a large number of staff.
What is the minimum contract period in a serviced office?
Many serviced offices offer monthly rolling contracts, allowing you to retain flexibility and move or grow as and when you need.
What type of businesses can benefit from a serviced office?
Serviced office space is valuable to businesses of all sizes, because of the choice, flexibility, and access to key locations it offers.