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Serviced or Leased - Which Office Space to Choose?

To relocate your business to a city like London, you need to have your planning done right. There are many aspects that you need to consider, choosing a location to relocate to and an office to relocate to, are chief among them. And when it comes to renting an office, you are faced with some more factors to think about. The type of property you choose to occupy as your office, should it be leased, or serviced, etc.

Leased Property

 

One of the most common practices in London is to rent or lease a commercial property. A lease can be negotiated at the start of the process, all the aspects can be discussed and a mutually beneficially contract is drawn. The lease time period can be up to 25 years. You won’t find two lease agreements that are identical; there are always differences and specification to satisfy each party.

When you lease an office, you basically get a blank canvas. You can decorate and fit it to meet the needs of your company. Leased offices cost are a lot lower, but you do have to pay landlords legal fees. On top of the rent, you will have to pay some extra charges. The biggest disadvantage of leasing a property is that it takes time, so if you are planning on leasing an office space, do give yourself a few weeks for acquisition.

Serviced Property

Instead of leasing a property, businesses have the option of licensing a space. Licensed or serviced offices come fully fitted with all the necessities and equipment that is needed in a functioning office. This is ideal for companies that are looking for a quick start of operations in London. There are plenty of cost free perks that come with a serviced office. You only pay for the office space that you are using, the communal areas, reception, washrooms etc are all free of charge.

The license is short term, giving you flexibility, if you are in search of new office and are waiting for the completion of the lease process. The cost of serviced offices is higher than leased ones, so they are more suitable for short-term accommodations.

Considering the information above you can make an informed decision about which type of office will be suitable for you. If you are looking to jump start your company in London, then you can choose a serviced property. If you have some time in your hands before you have to make the move, then leased property is the best choice for you.

Dos and Don’ts of Office Relocation in London

Why London?

London is considered to be one of the financial capitals of the world; in fact, its GDP is higher than any other European city, estimated at £444 billion; that’s more than the national GDP of some countries in Europe. The plethora of business opportunities and the potential to earn big money is what attracts many business owners to London. Both international and local businesses relocate to London, to potentially bring their brands to new heights.

But before they can enjoy the massive amounts of success that London can offer them, they have to complete the relocation process and establish an office in the city. And the most important factor in that whole process is finding the right office space.

Dos and Don’ts of Relocation

 

Do Consult an Agent

 

London has one of the most complicated rental processes in the world. It is advised that you consult a commercial property firm to ease your relocation process. An agent can give you access to all the properties that are available in the city. You can easily browse through them and pick the ones you’d like to visit.

Do consider Different Areas

 

There are many areas in London that are home to specific businesses, you can consider them all and pick the area that suits your business best. There are also cost factors when considering areas, some areas may offer lower rent then others.

Don’t Rush the Process

 

An effective relocation will take some time, at least a few months. Don’t rush yourself and try to speed up the process; this could lead to big mistakes.

Don’t Forget about Transportation

 

When considering an office space, look at its access to transport. If your business relies on foot traffic, this would absolutely essential.

Do Ask Every Question

 

Whatever is bothering you or is difficult for you to understand regarding the rental agreement, you should clear it up with help of your agent.

Do listen to the Agent’s Advice

 

Agents are experience in the property market of the city. They know how to negotiate the best rental deal for you. Listen to their advice and make decisions accordingly, so you are not exploited by anyone.

A good commercial property firm will provide you a full-service relocation. They will find you a space and negotiate a deal for you. After the deal is signed, they will recommend designers and other essential personnel, so you can customize the office according to your taste.

For more information about office rental visit our website:  theworkplacecompany.co.uk