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.