Since a raft of rather better economic news in the summer, here at Find a London Office we’ve seen some definite signs that the economy is on the mend. The number of businesses actively looking for office space and contacting us for help has risen dramatically since September, and as Ian predicted last month, central London 0ffice rents are expected to rise as demand begins to outstrip supply.

Time to take the plunge and start looking for office space?

So is is time to take the plunge and start looking for your new office? And if so which route should you go? Serviced office space or a conventional lease?

TRUE OR FALSE? Serviced Offices are more expensive than conventionally leased office space…We’ve written a report comparing serviced office costs with a conventional lease office costs that will help make that decision easier.

Many businesses will have taken a serviced office first or second time around – it’s a short term commitment, and has in-built flexibility should the business expand. And many businesses will plump for serviced even though they knew this was a more expensive way to accommodate “the team”. And while keeping costs down was a priority during an economic downturn, the flexibility of serviced – not to mention the fear of being tied into a long term lease in an unpredictable environment – was actually more compelling for many small businesses.

So this time, now that the economy has taken to significant steps towards normality, are you better off taking a conventional lease for say 2-5 years?

The received wisdom is that a conventional lease is much cheaper in the long run than a serviced office.

But is that really true? Is a serviced office really more expensive than a conventional lease

We decided to compare the 2 options, largely to see roughly how much more expensive serviced offices were, and there was an surprising result. We’ve prepared a report to publish our findings.

TRUE OR FALSE? Serviced Offices are more expensive than conventionally leased office space…If you are asking yourself this question, you need to read our report comparing the costs of serviced and conventionally leased office space.

You can download the report here.

 

About Michael Fraser

Michael Fraser

Michael - founding partner of Find a London Office - started in the London property market in 1970. Michael has developed extensive knowledge of the locations, the owners, the rental values, and - most importantly - has developed very solid contacts with the other agents working in the hub of the conventional office market, giving him a considerable advantage both sourcing office space, and negotiating the best possible terms for the tenant.

Did you like this post?

Receive FREE updates direct to your inbox.
Everything you need to know about London office space!

Privacy Policy: We hate SPAM and promise to keep your email address safe.
Top