What do your Service Charges Pay for?
As we discussed while breaking down the costs involved with running London office space, there are several costs to consider aside from rent.
Service charges, usually expressed as a rate per square foot occupied (i.e. £6.00 per sq ft per annum), are paid to landlords or managing agents for running multi let office buildings.
Common service charge items may include:
- Rubbish Collection
- CCTV
- Lightning Protection
- Pest Control
- Water Rates
- Electricity
- Cleaning Common Parts
- Lift Maintenance
- Telephones (Lift)
- Telephones (Security)
- Health and Safety
- Access Control Systems
- Air-conditioning
- Heating
- Security
- Fire Precautions
- General Maintenance
- Engineering Insurance
- Public Liability Insurance
- Building Management
An additional payment of £0.65 – £0.75 per ft² will be charged for Buildings Insurance.
The service charge elements will be slightly different, dependent upon the building – it depends exactly how they are run.
About Ian Kitchener
Ian graduated from Keele university with a degree in Philosophy, Politics and Economics and went on to obtain a Post Graduate diploma in Property Valuation and Law from (London) City University. He has advised Central London office occupiers for over 20 years. He loves fighting their corner and making sure they get what they need - a great office on the best commercial terms available.
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