Offices don’t operate on a one-size-fits-all basis. Every business has its own unique preferences, requirements, and limitations, and needs a workplace that reflects all of these.
Fortunately, the world of workspace has come a long way, and office providers now understand the importance of putting their users’ needs first. From serviced, to managed, to leased offices, there are many options now available to companies, ensuring that teams are in the right environment, on the right terms. But what is the difference between the various types? And how do you know which is right for your business?
At Hubble, we want to make your office move as simple as possible, so we’ve put together this easy-to-follow flowchart that cuts out the jargon and helps you understand which office type is right for your business. Then, once you’ve established which that is, we can help you find it – for free.
The main benefits of serviced offices are their flexibility and ease. Monthly rolling contracts allow startups and scaleups to avoid committing to long contracts, enabling them to grow organically without the pressure of traditionally rigid terms that tie them down. As such, teams need only acquire desks when they need them – avoiding unnecessary extra outgoings.
Be aware that by choosing a serviced office provider, you’re less likely to be able to make the office “your own”, and may be limited in the extent to which you can brand the space. However, many companies deem this an added advantage: increasingly, serviced offices offer a multitude of facilities, from childcare to free booze, meaning you can have a cool office that attracts the best talent and keeps your team happy – without any of the hassle.
Compare and contrast London’s serviced offices by searching our platform – you can filter by location, budget, and facilities at your leisure.
If you’re looking for a space that you can make your own, then a managed office may be your best bet. Contracts on managed offices typically last between 1-3 years, making them a good midway point between using a serviced office and committing to a long-term lease.
One of the main benefits of managed offices is that they are made bespoke to a company’s requirements, meaning that instead of submitting to the branding of a workspace provider, you can enjoy an office that’s tailored to you. Another is that all costs, from rent to fitout, will be bundled into one single, monthly fee. Over time, this benefit may cost a little more, but if a regular cash flow and hassle-free office life are what you’re looking for, then a managed office could be your answer.
Speak to one of our expert tenant advisors about managed offices by booking a consultation right here.
Established businesses often prefer long-term contracts – especially as in certain cases, they can prove to be more economical. When this is the case, a leased office could be the best option. Contracts generally last 3+ years, so you’ll need to be willing to commit to that office for a longer period of time – however, many larger and more established businesses prefer this element of security and stability.
Up-front costs are much more significant when it comes to leased offices – something to bear in mind – however, if that’s something that a business can afford then over the course of the contract, it will often actually end up costing less. The office will also be yours to do with what you wish – your name is on the door.
At Hubble we can help you find a leased space, as well as give you access to off-market options. Organise a time to speak to one of our expert tenant advisors here.