Tag Archives: office space

Space To Work: Finding Office Space In London

19 Jan

When it comes to office space, London should be an area that inspires confidence in your clients and productivity in your employees. Moving to a new space can be difficult, of course, even for those who are quite used to making the move. If you want to find a better space, you might want to consider these helpful tips that often escape the notice of even the most seasoned of corporate movers.

office-space-london

Reviewing Access

Access to and from your office space should be a primary concern, especially if you have employees working at all hours of the day. Try to make sure that you understand the security implications of having various workers coming and going from the space, and make sure that you know the security precautions that will be put in place to allow you to keep your employees working on schedule. This might mean asking about building security in some areas or arranging for your own system in others, so make sure that you know what needs to be done before you agree to a lease. Once you have figured out whether or not you feel comfortable with the security situation in your new space, you might want to consider a new factor – whether or not it can fit your growth needs.

Considering Growth

Any good businessperson knows that a good office must be slightly larger than necessary. What many forget, though, is that growth is in terms of not only office machinery and employees but also the ability of the space to keep up with regulations. As your office becomes larger, you may need to install additional employee restrooms or make particular changes to help individuals who are not able.  You should always make sure that your company’s space is large enough either to handle new regulatory necessities or that it has the ability to be expanded in a time of need. Should the space fit, it will soon be time to consider the cost – but you should always be careful to consider whether or not a deal is too good to be true.

The Landlord Offers

While London working space is often at a premium, there are spaces that are rather hard to let.  If an office has sat on the market for a significant period, many proprietors will begin to offer potential tenants any number of enticements to enter into a contract. As a rule, you should always take a moment to consider the nature of the offer versus the space presented. If you look at a lovely space and the landlord is offering a significant rent reduction or promises of special services, you might want to look deeper into the property’s history. Likewise, you should always be careful to make sure that any enticements given are actually written out in the lease — a promise, after all, is only worthwhile if it is in writing.

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Why Business Owners Should Find New Office Space During the Recession

30 Nov

Conventional wisdom would have it that the midst of a recession is a time for business owners to run and hide. Batten down the hatches, reduce all risky moves and wait out the economic storm in the hope that they can raise the sails once the worst has passed. A recession is no time to expose a business to risk.

In most cases this holds true. The current global recession has put everyone on the defensive, and most business owners have responded with caution. Nobody dares take risks; one wrong move could sink a business.

However, that isn’t the whole story. In fact, the depths of the recession can present businesses willing to take measured risks with great opportunities for short term benefits and long term growth.

 Moving in a Renter’s Market

The leasing of office space makes up the lion’s share of the overhead for most companies, and this is especially true in cities such as London and the business centers of mainland Europe. Even after several years of recession and glacial growth the property markets in Europe’s business centers are still expensive, but there are opportunities there for those who can find them.

Right now it’s a renter’s market. Most businesses are loathe to move to new office space; they don’t want to lay down even a penny of capital, and they certainly don’t want to make any long term commitments with the uncertainty of the coming months and years. As a result the rental market has become relatively stagnant. Few new leases are being signed, and landlords are surviving on the revenue from their existing tenants.

Taking Advantage Of the Downturn

As a result of this stagnation it’s possible to secure excellent terms on prime office space. Those businesses willing to risk a move can find leases with relative ease that offer rent free months, flexible lease conditions and even the occasional incentive such as free parking, bundled utilities or cut priced janatorial services. Some lessors may even offer a rental rebate up front to cover the cost of modifications to your specifications. Landlords are desperate to lease their space, and the power is very much with renters.

The greatest perk here is the free rent that may be offered to lure in new tenants. Depending on the length of the lease, several months free rent as a ‘moving in’ bonus could reduce your effective rent considerably – perhaps even allowing you to occupy larger premises at a lower cost (over the life of the lease) than you currently pay. For example, when UBS Financial Services recently leased new premises in Manhattan’s Park Avenue their ten year, eight month lease came with nine months of free rent and an allowance for work on the property, reducing their effective rent from $75 to $56.99 per square foot.

Cutting Costs to Survive the Recession

While moving into larger premises may be appealing, perhaps a more sensible option would be to trim overhead by transplanting to a smaller space. If your current lease allows you to move it may be worthwhile to work out exactly what space you need to function right now, and how much you’ll need to account for modest growth over the next few years.

If you’re currently leasing London office space in the heart of The City you may be surprised at just how much you could save with an incentivized move to smaller premises nearby.

Why You Should Act Now

While the market can be cruel and unforgiving it’s a fact that it often rewards risk takers. Right now the opportunities for those looking for new office space are attractive, but as the economy grows – no matter how sluggishly – the demand for office space will once again increase and the incentives will begin to vanish.

Those business owners willing to take a chance will find leasing terms more attractive than any they are likely to see in the future, but those who decide to ride out the recession in their current premises may find a resurgent market tipping back towards landlords when the time comes to move.
If your business is secure enough to survive the turmoil of a change in premises this may be the right time to consider a move. The risks may be considerable, but the advantages for a business making the right move at the right time may outweigh them.

Go For a Serviced Office Setup to Manage Your Office Budget Wisely

14 Feb

Since last two years I have been working as an expert author and editor at Office Space in town. As part of my passion to provide useful information to people and business who are looking for office space, in this article I am going to share some tips on how to optimize your office space efficiently.

There has been a considerable and remarkable change in the availability of office space and its acquisition by the business owners in the past 10-15 years’ span of time. Business units have been cropping up in and around the cities and towns irrespective of their size but most of them aren’t wisely investing according to their needs.

Serviced offices are indeed in great demand now as they are highly economic and offer wide variety of features that are flexible to change according to your business needs. Thus the multiple benefits of these spaces like; tenants shared access to amenities such as IT infrastructure, meeting rooms, reception and utility rooms can help the business owners pool the funds towards hiring professionals rather paying high rents to a traditional office.

Several businesses generally focus on possessing highly skilled manpower resources and a grand office premises in prime business locations of cities and towns. But in today’s world, both corporate and small business entrepreneurs are mainly looking for employing the most beneficial manpower resources to their business than leaning towards the materialistic ownership of office space. So, investing wisely on skilled personnel, along with the most convenient office location has become an essential criterion in this competitive and fast growing business world. Because a good suitable office space would not only minimize the office expenses, it will also favor in managing the funds for selecting new skilled employees to your business needs.

No longer is the ownership of grand offices a prime attraction of asset in today’s business model.  However, majority of businesses don’t consider this fact. With considerable development in the real estate business, venturing into facilitating with already furnished and fully equipped office space is highly recommended. Because, to meet vivid demands and needs of your business a serviced office space is the best choice not only to save your business expenses but it can also compensate the amount that you will need to pay for your employees.

As the roots of a business set up or an establishment of a corporate lies on the wise selection of employees and the perseverance of the entrepreneur, serviced offices help businesses to set up offices at a comfortable zone to their employees. Subsequently employees in such well accompanied environment will work better which is good for the both employees and to the business.

However, similar to mushrooms springing up in meadows, serviced office spaces for lease options are also emerging in hundreds and thousands catering various needs of business with any size. So, take care to do some research online/offline and find the best serviced office space that suits your business needs.