What is a Serviced Office
If you work in the so-called corporate world, you might have heard the term being thrown around – but what’s the full definition?
Well, a serviced office is a flexible workspace that comes fully-furnished and fully-equipped with all the services you’d need to get started right away.
This type of office will already be connected up with broadband, telephones and a range of other office stationery already provided and accessible to businesses that lease the space.
Managed by a serviced office space provider (like us!), you’ll generally find a number of other in-house facilities, too – including:
- Meeting rooms
- IT support
- Kitchen area
- Building maintenance
What are the Benefits of a Serviced Office?
Besides from all the facilities listed above, there are a number of serious advantages to operating out of a serviced office space, as opposed other, more traditional alternatives.
First and foremost – there’s the flexibility factor.
You can lease the space for as little or as much time as you like, which is great for agile companies that need to do go about their business at short notice.
There’s also a cost-effective element to it.
Think about it. You’re only paying for the space itself, in theory. All the facilities and added benefits come as part of the overall package.
A serviced office for lease may also enable you to set up business in a location that you would not have been able to afford initially if you were buying or renting out a building in the long-term.
When you think about the prices in London, for instance – it’s far cheaper to lease somewhere on a flexible basis than to buy property or rent from a landlord.
As a result, a London business address might be more affordable than you think.
Why Do Large Companies Rent Serviced Offices?
The serviced office industry in the UK is growing.
After the global recession, many small businesses resorted to acquiring these smaller, more flexible office spaces rather than leasing a property.
Part of this is due to its cost efficiency, practicality and flexibility. Now though, we’re seeing an increase in large corporations opting for these small serviced office spaces as well.
Traditionally, big businesses would rent a big office building on a long-term lease, and take care of all management issues themselves.
There has been a change in the market, and now many large businesses are renting smaller serviced offices instead, which offers them with more flexibility, less admin supervision when it comes to managing the office, as well as being able to base their office in various and multiple locations across a city.
It has quickly become an old-fashioned approach to rent a big building on a long-term lease, and the market in the UK, and globally – is changing.
Are Serviced Offices Ideal for Start-ups?
The answer to this is a resounding – yes.
Serviced offices are the perfect place for innovative entrepreneurs to meet up and share ideas, which makes them breeding grounds for bright new ideas. Large corporations use serviced offices to meet talented entrepreneurs, and sometimes even end up hiring them.
Just look at Microsoft as an example.
They could easily buy their own premises – but they’ve instead purposely chosen to used service office space to house some of their talented workforce.
Being closer to other smaller businesses and start-ups allow companies like Microsoft and IBM to get a frontline experience of how other businesses use their software.
Not only can the so-called ‘big boys’ learn a thing or two from new start-ups, but they can also put themselves in a better position to give advice to these smaller companies to help them improve their software and be more productive.
Serviced Office Space in London
If you’re on the hunt for temporary office space to rent in London look no further than WorkPad.
Our serviced offices come with flexible rental terms and are fully fitted, furnished and maintained.
They’re also secure, cost-effective and are organised to provide businesses of all sizes with all the resources they need to get through the working day.
We’ve got a number of locations available across Soho, Covent Garden, Marylebone, Farringdon, Mayfair and Fitzrovia – so feel free to browse through and arrange to viewing a workspace of your choice today.