A serviced office is a fully furnished and equipped office space that is available on a flexible, short-term basis. Serviced offices are typically located in business centres or coworking spaces and come with a variety of amenities including reception services, meeting rooms, and access to shared kitchen and lounge areas.
Serviced offices are run by operators who manage the office space on behalf of the building owner. This means that you don't have to worry about things like maintenance, cleaning, or security, as these are all taken care of by the operator. In London, there are over 100 operators offering serviced office space all trying to find a way to differentiate their spaces. London operators include WeWork with over 40 locations, The Office Group with 25 and Regus with over 30 serviced offices in the City of London alone!
WeWork - 10 York Road
What is coworking?
Coworking is a type of shared workspace that is becoming increasingly popular, particularly among small businesses and entrepreneurs. Coworking spaces typically offer a variety of membership plans that give you access to shared office space, communal spaces and all the amenities that come with it.
What's included with a serviced office?
Serviced offices typically provide you with all of the basic essentials and come with a variety of amenities including:
- Furniture: Serviced offices are usually furnished with desks, chairs, and storage.
- Internet: Most serviced offices include high-speed internet access.
- Reception services: Many serviced offices have receptionists who can answer calls and greet visitors.
- Meeting rooms: Serviced offices typically have meeting rooms that can be booked for events or meetings. Most meeting rooms are equipped with Audio Visual and video conferencing equipment.
- Shared kitchen, breakout and lounge areas: Serviced offices often have shared kitchen and lounge areas where employees can take breaks or relax.
Some high-end or premium serviced offices may offer additional amenities on top of these – some as part of their all-inclusive rent package, others on a pay-as-you-use basis. These amenities could include
- Unique event spaces: Event spaces that are bookable by the hour or day
- Secure bike storage: Lockable bike storage with lockers
- Gym facilities and fitness classes: Fitness facilities and studios with community sessions
- Shower rooms: Showers, lockers and vanity stations for getting ready after your workout
- Childcare facilities: Professional childcare within the building
- Roof terraces and outdoor spaces: Furnished outdoor spaces to meet and relax
- Podcast rooms: Record your company podcast in specialist podcast recording rooms
Uncommon - Liverpool Street, London
What are the benefits of a serviced office?
There are many benefits to choosing a serviced office over a traditional lease:
Flexibility: Serviced offices are perfect for businesses that need flexibility as they can be rented on a short-term basis. This is ideal for businesses that are growing quickly or those that need to downsize quickly.
Short-term contracts: 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.
Cost-effective: Serviced offices often include a variety of amenities such as furniture, internet, and reception services, which can save businesses money.
Convenient: Serviced offices are typically located in business districts or near public transportation, making them convenient for employees and clients.
Zero maintenance: Self-managed private offices are often labour-intensive to run because of maintenance and cleaning demands, let alone looking after the people. A serviced office saves you precious time as well as money.
Ready to move in: Serviced offices are ready to move in, which means businesses can start operating immediately.
Work.Life - Soho, London
Are there any disadvantages of a serviced office?
While serviced offices have many advantages, there are a few disadvantages to consider:
- Limited space: Serviced office spaces are typically smaller than traditional office spaces, so they may not be suitable for businesses that need a lot of room.
- Shared amenities: Serviced offices often have shared amenities such as meeting rooms and kitchen spaces, which can be a disadvantage for businesses that need privacy.
- Flexibility: The flexibility of serviced offices can also be a disadvantage as businesses may have to move if their needs change.
What are the differences between a serviced office and a traditional leased office?
There are a few key differences between serviced offices and traditional leased office space. Serviced offices are usually available on a flexible, short-term basis, whereas leased office space is typically a longer-term commitment. Serviced offices also tend to be located in business centres or coworking spaces, while leased office space can be anywhere. Finally, serviced offices usually come with a variety of amenities like meeting rooms and reception services, while leased office space typically does not.
WeWork - The Monument, London
What is the minimum term when taking a serviced office?
Serviced offices are typically rented on a short-term basis, with minimum terms ranging from one month to one year. This makes them ideal for businesses that need flexibility.
How much do serviced offices cost?
Serviced offices typically start at around £500 per month in London however costs vary depending on the location, size, and amenities of the space.
Monthly costs are typically all-inclusive, meaning they include rent, rate, service charge, furniture, internet, and other amenities.
Are serviced offices more expensive than traditional leased offices?
Serviced offices can appear more expensive than traditional leased offices, however, they often include a variety of amenities that would cost extra in a traditional office space. Office fit-out and furniture needs is a large cost when considering a traditional leased office space. This requires a significant day 1 investment before you can move in.
When comparing your office space options, it's important to weigh up understand costs on a 'apples for apples' basis. Our team of experts can help you with a thorough comparison.
Fora - Fitzrovia
What type of businesses may benefit from a serviced office?
Serviced offices may be a good option for businesses that need flexibility. Serviced offices can be rented on a short-term basis, making them ideal for businesses that are growing quickly or those that need to downsize quickly.
Serviced offices are a great option for startups and small businesses that need professional office space without long-term commitment. Serviced offices are also a good option for businesses that need to be located in a specific area or near public transportation.
How to find a serviced office in London?
When looking for a serviced office, there are a few things to keep in mind:
- Location: Serviced offices are typically located in business districts or near public transportation.
- Budget: Serviced offices vary in price depending on the location and amenities of the space.
- Amenities: Serviced offices usually come with a variety of amenities such as furniture, internet, and reception services.
Once you know what you're looking for, you can start searching for serviced offices in your area or work with a serviced office broker like XIX to help you find the perfect office space for your business.
So, to summarise...
Serviced offices are becoming an increasingly popular option for businesses of all sizes. They offer many benefits, including the ability to focus on your work without having to worry about the day-to-day tasks of running a business.
If you're looking for a serviced office in London, XIX can help you find it. We have access to thousands of options across London and the UK, and our team is here to help you find the perfect space for your needs. Let us do the heavy lifting and hand curate your perfect office shortlist.
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