Before the pandemic, shared office spaces were booming.
Fuelled by the ‘gig’ economy, and spurred on by innovative thinkers like WeWork and Second Home, shared office space quickly became a top choice for startups and established names.
Nowadays, a shared office enables a business to share the costs associated with commercial office space with several different tenants.
The result? Affordable office space in top cities like London, Manchester and more!
Below, Hubble covers exactly what shared office spaces are and how you can find one:
- What does a ‘shared office’ mean?
- Are there different types of shared offices?
- What are the benefits of shared offices?
- Who should I share my office with?
- Are shared offices cheaper to rent?
- Find a shared office with Hubble
What does a ‘shared office’ mean?
A shared office is one where multiple businesses work in the same environment and share the same facilities.
For example, this could be a business centre with hot desks on every corner. Or a part-time office where a business rents a private space for the same 1-3 days per week.
But one thing’s for sure…businesses will benefit from monthly rolling contracts and top-notch facilities while making significant savings on office rent.
Are there different types of shared offices?
Yes, there are! Here are the three different types of shared office rentals:
Part-Time Offices
A part-time office is a shared workspace where two businesses split the rent, using it on different days instead of the whole week.
These shared offices are up to 75% cheaper than a full-time office, depending on the days taken.
Renting a part-time office involves signing a monthly rolling contract, making it incredibly easy to adapt to unprecedented situations and/or needs.
Sublets
Some companies discover they have extra office space and, instead of letting it go unused, they rent it out to those in need of flexible workspace.
It’s a win-win—smaller businesses gain access to affordable, professional space, while hosts benefit from an additional revenue stream.
Coworking spaces
There are also dedicated office buildings and business centres designed specifically for shared use. Coworking spaces.
Instead of subletting from another company, multiple businesses rent desks and share facilities and services.
In these spaces, you’ll find meeting rooms, phone booths, event space, and even amenities like podcast studios and gyms.
They’re an excellent choice for small startups seeking the networking benefits of coworking but needing a more permanent setup than hot desking.
Who should I share my office with?
You can’t choose your family, but you can choose your shared office neighbours—and choosing wisely is essential.
Sharing a workspace with a competitor can be tricky. While collaboration is more common these days, business is still business—you don’t want rivals pitching to your potential clients or overhearing sensitive company discussions.
On the other hand, working alongside a complementary business can be highly beneficial. It opens the door to valuable connections, client referrals, shared expertise, and even discounted services between businesses.
Are shared offices cheaper to rent?
Definitely!
Cost-effectiveness is one of the main reasons for sharing an office space in London.
In fact, part-time offices can save businesses up to 75% on the cost of a full-time office!
Find a shared office with Hubble
We’ve made it easy to see what’s on offer in London for your budget.
Our flexible workspace platform can help you find the perfect shared offices for your business — whether that’s a part-time office or day passes to coworking spaces across the country.
And thanks to our strong relationships with top workspace providers, our team of expert advisors will manage your entire search and work to get you the very best rate.
