5 Questions to Ask When Looking for an Office to Rent in London
If you’re looking for a base in London for your business, there are a wealth of options available to you. It’s hard to know, therefore, what you should and shouldn’t be looking for when it comes to finding the ideal office to rent in London.
So, to make it easier for you, we’ve put together a list of questions you should be asking yourself when looking at various choices.
That way, if you go into the decision making process well informed with what you should know before you commit, you have a greater chance of getting the perfect serviced office in London.
1. What makes the most financial sense?
As with budgeting for anything for your business, you will need to work out what you can realistically afford to spend. Calculate exactly how much you can lay out comfortably each month for office space to rent in London – then check out your options.
Things you need to consider include which areas are the most expensive to rent in. Obviously a central location is ideal, however, this is likely to come with higher renting costs so you will need to factor this in.
Some areas on the fringes are slightly cheaper but still well connected, so they could be worth looking at. For example, Farringdon is still a prominent London location, but is often slightly cheaper for running costs when compared with Soho, which has a more central spot close to Piccadilly Circus, for example.
So, the key is to do your research and also check your lease to ensure there are no hidden costs. For example, does the serviced office in London cover utility costs too as well as cleaning or furnishings? If not investigated from the outset these other features can prove to be costly unpleasant surprises later on.
You might also prefer a flexible contract rather than a fixed one, so you can use the space a bit more freely and figure it out too before committing.
2. What sort of facilities do we actually need?
First and foremost, when it comes to researching a serviced office in central London is what facilities you require. Before you get swept along by the trendy location, it is worth making a list of everything your office needs to have in order to make it a viable option.
It can be quite handy, for example, to have a fully furnished office space so that you don’t need to worry about buying desks, chairs and filing cabinets.
And you might need a kitchenette for a break out area where you can go grab a coffee and have lunch. Plus, it may sound silly but it can also be worth checking if the office space has working plug sockets or light fittings, as these are obvious essential facilities.
Will you also require parking as part of your prioritised facilities? If so, then you will need to check whether your office space includes parking too, otherwise office space with nearby transport links for trains and buses could serve you perfectly well.
Also ensure that the space meets all the required health and safety regulations. Every office to rent in London should have suitable fire escapes, lifts and wheelchair access, just for your own staff but also for customers and clients.
3. How quickly are we expecting to grow?
If you’re a start-up with a big vision, you might be looking to grow your business very quickly over the next couple of years.
Therefore, you will need to look at either a larger serviced office in London or a small office just for now with a short term lease. This will allow you to change it up in a year or two when you’ve expanded.
However, if you’re only a smaller set-up or looking who doesn’t require a large set of staff and is looking to stay that way – either permanently or until you reach steady growth – then a longer term small office space would suit you fine.
This is also better for freelancers who may be working on a collaborative project with other freelancers in the short term, and would benefit from a shorter lease.
4. What’s the security like round here?
Packed full of expensive equipment like computers, telephones and furnishings, it’s not hard to see why office spaces are often targeted by thieves. It is, therefore, crucial to investigate what kind of security your building offers.
There is also the fact with most office based businesses that they often hold a lot of sensitive data. So this is a huge priority for businesses when it comes to securing their office space, as they have a duty to the people whose data they are holding to keep it safe.
So things to consider when it comes to security are, for example, do you require a code to get into the building from outside or a fob? Or is there a receptionist, concierge or guard to monitor who is going in and out of the building? Does it have cameras for visibility of the outside and inside of the buildings at all times?
Security is a huge factor for yourself, your staff and any visitors to your business. It is therefore your responsibility to check there is a level of security provided by your office space.
5. What’s the best area to work in from a cultural perspective?
London is a melting pot of diverse cultural areas with varying points of interest, so it’s hard to choose an area with so much fantastic choice. However, it can be helpful to think about what type of business you run and, as such, what kind of clients you have and what you are both likely to benefit from in your surroundings.
For example, Covent Garden is home to a lot of creative and media based businesses in the area, so if you’re hoping to work with these types, then it makes sense to be working in close proximity to them.
If you are likely to be working with many ad agencies or TV based companies, then it could be worth looking at Soho as an option. It is also a great location for transport links, so if you’re looking for a base that will give you and your clients plenty of choice when it comes to commuting in, then it should definitely be on your list.
If you’d like a quieter part of London, away from all the hustle and bustle, but still with good connections, then Marylebone could be for you. Regarded as an historic and chic part of London, with some of the best restaurants and cafes, it is the perfect spot for wining and dining clients too.
Fitzrovia is an area popular with architects and advertising companies. With rich cultural links to the West End, such as theatres and galleries, it is a low key area that is close to the busiest parts of London, but with the benefit of providing a bit more headspace in a quieter location. It is also home to the BBC Broadcasting House, so popular with media companies.
If you’re looking for an office to rent in London, that is easily reachable by walking, taking the bus or train, then Farringdon is a brilliantly centrally located area. Home to arguably London’s biggest club, Fabric, it has a great nightlife and plenty of eateries, so it is a good choice for entertaining as well as working in this vibrant part of London.
To check out more of the advantages to working in each area, check out more information our guides to office spaces in London with WorkPad. We can help you to choose the best office space for your type of business and requirements so that you can feel inspired, motivated and confident in your workspace.