Should I opt for a serviced office or a conventional lease?
I deal with this question on a daily basis. As I mentioned in Part One and Part Two of this post, the decision is usually clear cut. If you’ve answered these 6 key questions about your business, you should now know which route you should take.
If you are still in any doubt – or, perhaps crucially, if there is disagreement amongst key decision makers in your organisation – here is a definitive checklist, which you can keep handy for use during any discussion:
A CONVENTIONAL LEASE is the right choice for your business, IF:
- you are looking to take an office for a longer term: 3 to 5 years plus
- you have no substantial growth plans during that period
- you have the time to go through the acquisition process
- you have the funds to pay for legal advice and an office agent
- you believe that control of your space, layout, interior design and branding are fundamental to your business.
A SERVICED OFFICE is the right choice for your business, IF:
- you require flexibility in terms of the length of your agreement
- you are in a substantial growth phase and plan to employ more people
- the number of people you employ is generally unpredictable
- time is off the essence and you need to move in to new offices quickly, with all services available immediately
- budget is critical and you would like to avoid upfront costs
I hope this 3 part post explains everything clearly and removes the myths and misconceptions about both conventional and serviced office space in London. Ultimately, I hope it gives you the facts to make the correct choices for your business.
Serviced Offices Location Guides
We have serviced office location guides for each of our 19 London locations:
For more general information about flexible office space, please see our Serviced Offices in London guide.