Nov 1, 2019

Office rental options in 2019

With so many workspace options, it can be hard to know which type of property to go for. In this article, we will be going through the various options so you can decide which one suits you best.

The top four

Generally, we’d say there are four main types of office space available:

1. Serviced offices

2. Shared offices

3. Coworking spaces

4. Traditional offices

There are additional types of office property options related to these four categories, such as virtual offices, incubator, and accelerator spaces, but we will get into them at another time.

Serviced offices - AKA business centres

Serviced offices are based in purpose-built business centres and are generally the most professional of your office options. Providers include; Regus; Citibase; Avanta Offices and many more. 

They are all-inclusive which means broadband, utilities, and maintenance are all covered. You may also get offered access to meeting rooms and conference suites and reception services. 

However, it can be the most expensive of the options and there is a lack of control over the workspace, meaning you may not be able to paint and decorate. 

Ideal for: Start-up businesses; if you’re looking for a short-term contract; if you’re moving space; or if you’re taking on temporary staff.

Shared offices

Shared offices are Office Genie’s bread and butter as we were the first company to allow businesses to list and rent out empty desks completely free of charge! Shared offices are desks you can rent from another company in their office. 

They generally come all-inclusive, are usually cheaper and can sometimes be more flexible than serviced and traditional spaces. For example, a serviced workspace typically has a contract length of 3 months, whereas a shared office may have a contract length of just one month. 

Another great benefit is you can interact with a team of people from a different company. Although, these offices are usually lower spec than the serviced equivalent and there can, again, be a lack of workspace control. 

There can also be potential network security issues as you could be sharing a network with one or more companies. Moreover, contractual issues may arise, for example, the landlord may require the space without giving much notice. 

Ideal for: Freelancers; if you’re looking for a rolling month-to-month contract; if you’re looking for temporary space; and small businesses.  

Coworking spaces 

Co-working spaces fall between shared offices and serviced offices as it involves professional desk-renting in purpose-built hubs. These are typically popular amongst individuals looking for an all-inclusive office space and are also attractive to larger businesses too. 

Coworking spaces are often cheaper than a serviced property, but more expensive than shared. They also give you a chance to work alongside like-minded people also renting a desk.

Ideal for: Freelancers; people no longer wanting to work from home; one-man start-ups; and small or large businesses.

Traditional offices - AKA leased or unfurnished offices

Typically the cheapest of office space options, as well as the most popular, traditional offices offer long-term security (in terms of contract) and give you complete control over your workspace – (so get creative with your choice of wall colour!).

However, with this comes administration, long-term commitments, furniture, and utility costs (amongst others). You will also need to manage the office and maintain it, which can cost time and money.

Ideal for: Established businesses; large companies; or if you’re looking for a long-term contract.

We hope this post helps you understand the key differences between the various types of office rental options available on the UK market in 2019. Why not take a look at what Office Genie has to offer in terms of office space options?


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