Serviced offices are ready-to-use office spaces within managed buildings or business centres. The business centre is divided into single offices which are rented to a client or company for a single all-in monthly fee. This places serviced office users at the centre of an invigorating and creative environment, populated by businesses from different sectors, and at different stages of development.
Arrangements vary but most serviced offices are fully furnished, providing desk, chair and filing cupboards. They tend to include business rates, utility bills (heat, light, electricity), broadband and telephony. In addition, some serviced offices have on-site reception staff who will act like an extension of your team, greeting clients and providing refreshments while they wait.
Understandably, serviced offices are growing in popularity, offering an attractive alternative to long term lease arrangements. A Savills report dated 11 April 2018 reported a 409% increase in serviced office take up [UK Regional Serviced Offices Market Watch – Spring 2018 https://www.savills.co.uk/research_articles/229130/239218-0 ]
One of the possible reasons for this change is the flexible pay-as-you go model provides an attractive alternative to long term lease arrangements and enables companies to limit liabilities. Flexible serviced office contracts mean that companies can lease an office on a month by month basis. The single, all-in monthly payments, reduces administration time and provides a simplified, effective route for budgeting, business plans and securing financial backing.
Serviced offices are designed so that you can move in, plug-in and start working immediately. With utilities and IT infrastructure fully connected and functional, they limit downtime associated with arranging and activating new broadband lines. Being fully furnished, and with telephone systems and wi-fi networks in place, serviced offices enable businesses to significantly reduce set up costs.
Serviced offices are often located within a managed building. Office cleaning and maintenance are typically included. This represents a time saving that should not be underestimated. It offers other advantages too. For example, giving serviced office users access to a range of additional facilities like meeting rooms, coffee lounges and access to larger office equipment like photocopiers which might otherwise be unaffordable. Being located in a shared building also provides access to a ready-made business community which can provide valuable network opportunities.