The office letting market continues to evolve all the time. Recently, there has been a growing trend towards opting for sublet office space. It’s appeal stems from the fact that in-going tenants have the opportunity of acquiring an office with a tenant fit out, meaning that they can potentially get partitions, communication rooms, a kitchen and other facilities already in situ.
It was not very long ago that office space was routinely stripped of all partitions and tenants fixtures for marketing purposes.
Why Was This?
The consensus used to be that office floors looked more attractive when empty. They were presented as “carte blanche” and new tenants were to be given the “opportunity” to start afresh. The in-going tenant would be able to design and erect their own partitions in order to meet their specific layout requirements. Another significant benefit of presenting an open plan space is that there are clear views of the windows, meaning that the all important natural light is maximised.
How Have Things Changed?
In current economic circumstances, knowledgeable tenants are searching for the opposite. They are targeting London office space that other tenants are seeking to offload, with the key consideration being that in today’s climate, they aim to secure it without the removal of partitions; before the space is returned to open plan.
Most tenants require an amount of open plan office space, but also need meeting rooms, directors offices, a board room, a small kitchen, a store and a communications room. To have these already in place can result in an immense saving.
At FindaLondonOffice, we recognise the value of this strategy and frequently help our clients to find space with the benefit of a good tenant fit out already in place, if ideal. Talk to us to find out more.
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. Ian feels that www.FindaLondonOffice.co.uk have identified a real gap in the market - to find the perfect office and then provide expert advice on the commercial negotiations against often very canny landlords. The speed and skill with which the FindaLondonOffice team do this can often make a significant contribution to their clients profitability. Ian lives in North London with his wife and 3 young children. Read more about Ian Kitchener.
