Relocation Tools

The main difference between a serviced office and a conventional office is the rental term. Serviced office space is usually on a licence from a month to a year, whereas a conventional office can be anything up to twenty-five years but typically between 2 to 5 years and with optional break options should you wish to vacate sooner.

A serviced office is normally pre fitted and cables but can be configured to your own personal and business needs, from a single desk to an entire building.

The flexibility of the serviced office allows you to grow or shrink your space depending on your business requirements.

Leasehold offices are a more traditional form of office rental. It involves leasing the office from a commercial landlord over a period which is usually in excess of 3 years. You will have full control over a number of internal aspects like decoration, room layout, etc. But it also means you’re liable for repairs, maintenance and security.

Office can offer a wide range of services, and it’s the type of services that they offer which will help you to decide on a particular provider. Flexible leasing options enable you to take space as and when needed without the pressure of long term commitments

The different types of space include:

Co-working

Co-working space is usually open plan communal offices with shared meeting rooms allowing collaboration with different organisations with complimentary skill sets. Networking with like-minded businesses or partnering to pitch to a new client collaboratively helps businesses connect.

Serviced offices

Serviced office offers your business corporate space to your individual size requirements. Space is provided on a standard licence for a period up to a year, offering desks, computers and telephony normally as an all inclusive cost. Space can be increased or decreased to accommodate change. Any additions, meeting rooms and refreshments are added extras.

Virtual office space

Virtual offices allow you to have a prestigious address without actual occupation, where correspondence and incoming calls will be answered professionally.

Accelerator workspace

With accelerator workspace the tenant loses some control over their space but in return gains convenience and flexibility. Ideally suited to start-ups looking for space at low cost with the potential to grow, this workspace provision.

Side by side, the price per square foot for conventional Leasehold office space is more cost effective than serviced offices. However, there are many hidden costs associated with a conventional office – aside from the costs of telecommunications, furniture and fit out, the tenant also takes full responsibility for everything within the space e.g. rent, rates, service charge, power and insurance. You will also typically need to professional pay fees for a solicitor and sometimes a commercial agent (a good agent can save you a lot of time and money).

A serviced office will certainly appear more expensive simply because it is priced per desk per month, rather than per square foot. However, it’s important to remember that this price is fully inclusive of most costs associated with the office (telephony, broadband, reception etc). And aside from a deposit, there are no upfront fees. Speak to one of our consultants to receive a cost comparison spreadsheet.

Businesses searching for Leasehold, Freehold and Serviced offices are able to see at a glance current available offices across London.

Once you pinpoint a property you can quickly arrange a viewing with our booking system.

If you need help negotiating the deal our experts are here to help.

A licence is technically a ‘licence to occupy’. The ‘licensee’ – the business that occupies space under a licence – does not have a tenancy and cannot therefore be described as a tenant. Technically, the payment it makes for the use of the space is a ‘licence fee’. Younger business without much trading history or financial backing may find it easier to sign a licence than a lease. Typically, to get going you will be required to pay at the outset a deposit equivalent to 1 – 2 month’s licence fee plus 1 month’s licence fee in advance.

A lease is a binding contract in between landlord and tenant. It sets out the rights and obligations of both parties and is therefore enforceable. Certain aspects of the relationship between landlords and tenants are also defined by law. A first draft of the lease will usually be drawn up by the landlord’s solicitor but it is important the tenant has a solicitor to ensure the lease is fair and reasonable.

Typically tenants acquire new leases directly from the freeholder. Although it is possible to enter the chain lower down by taking an assignment of an existing lease, or a sub-lease. With the new lease you should be able to negotiate the terms to suit your business. With an existing lease (assignment) you will be bound by the conditions that it already contained in that lease.

Professional advice is often needed to understand the complexities in each situation. Feel free to call one of our consultants to know more.

The principle of hot desking or shared workspace is that you do not allocate a personal desk or workstation to each employee. When they are in the office, employees use whatever workstation is free. This works best when individuals spend a fair part of their time away from their desks – on site or visiting clients. Speak to one of our workplace consultants for more information.