Tag Archives: rent office space london

Why Renting Office Space In London Could Enhance Your Business

30 Oct

For most entrepreneurs, a tight budget means that their choice of business premises is limited between a home office and a rented office space. In the current economic climate, many business professionals consider the initial low cost and lack of commute when working from home to be the preferable option. However, with rented offices becoming more and more popular among start-up organisations, it seems that a rented office space can offer several key benefits over staying at home and far more scope for businesses to succeed and compete.

The Benefits Of Choosing To Rent Office Space

London is an unrivaled centre for commerce in the UK, and it has excellent transport links to other key destinations around Britain. If your aim is to find big clients and significant investment, there is no better destination. Unsurprisingly, having access to London’s many amenities comes at a cost, and the rental prices often reflect this. Fortunately however, the financial savings that can be made when sharing important facilities and equipment in a communal office space mean that the real cost of renting in London is far less than many people think.

No matter what area of business you work in, presenting a professional image at all times is crucial. If you need to meet up with clients or customers, maintaining the appearance of an authority business when working in the spare room of a home is a difficult task. With meeting rooms, reception services, and function suites included, renting space in an office creates the impression of a more established company.

Working within a thriving office space with other personnel is a great way to stay motivated and boost productivity. The work based environment of an office provides fewer distractions from visitors or household chores, and being surrounded by other staff removes the isolation of working from home.

How To Find The Best Serviced Office Space

There are a wide range of serviced office spaces available to choose from in London, and finding the best option for your business can be a difficult task. The following are some important considerations to take into account:

– Facilities, Resources and Staff

Different contracts will include different facilities within the terms of rent. Meeting rooms, broadband, phone calls, secretarial services, IT resources, and trained reception staff are all expensive to invest in, but they can be included free with some rental agreements. Consider exactly what your business needs before you start searching for prospective offices, and ensure that you are not paying extra for facilities that you do not need.

– The Building

The location of your office building will have perhaps the biggest impact of all on its cost. Finding the right balance between the benefits of a city central setting and an affordable price is a key decision to make. No matter where your building is situated, it is vital to make a specific agreement about which rooms within it you and your staff have access to. Occasionally access to toilets, kitchens, storage, and function rooms must be negotiated in addition.

– The Facility Management Company
During your lease there are likely to be many occasions when you need to have contact with the facility management team responsible for maintaining your office, both when setting up your work place and if problems occur. As a result, finding a team that is thorough and easy to work with is beneficial.

– Cost and Payment

With such great travel connections, investment opportunities, and global interest, choosing to rent office space in London always comes at a price. Fortunately, the rental market offers many different types of payment methods and solutions to suit your circumstances. You can choose between a long-term or short-term contract, and you can also decide if you want to pay hourly, quarterly, or yearly for your use.

Renting office space in London enables entrepreneurs and business start-ups to get the flexibility they need. Having the ability to expand and adapt your contract to reflect your situation can give you the peace of mind that home and traditional leased offices cannot. With such a wide range of offices to choose from in London, you are certain to find one with facilities, location, a payment plan, and a price that is right for your organization.

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5 Tips for Choosing the Perfect Start-Up Office Space in London

30 Aug

In this languishing economy, at a time when start-ups struggle more than ever to find their footing and go on to success, it has never been more important to sweat the details before hanging your shingle. Every aspect of your new business must be perfect in order to give your venture a fighting chance of survival, and there are few more important considerations than the location of your office.

London, naturally, is a coveted location for any new business. As one of the world’s most vibrant, important and well-connected business centres it’s the perfect place to establish a base. However, setting up shop in London can also be a risky move without proper planning. The often extreme costs and inconveniences of establishing an office in the city could potentially outweigh the benefits, so it’s vital to consider the realities before taking the plunge.

To help you on your way to success we’ve come up with five simple tips to help you find the perfect office space London has to offer…

1. W11 or SE21?

As you’d expect, London office space was not created equal. While a Notting Hill location wouldn’t leave you much change from £1.5 million if you were to buy outright, a property in a less desirable neighbourhood could save you hundreds of thousands. This is your first (and perhaps most important) consideration, and the frustrating catch-22 that all businesses face. The best and most convenient office space will always be the most expensive, and you’ll need to carefully weigh up the costs and benefits of any location you consider.

The key consideration here is this: does your start-up rely on passing traffic? Do you need a convenient location for customers and clients to visit? If not, it makes little sense to pay a premium for expensive real estate when you might get much, much more for your money in a location on the city fringes.

2. Transport Links

It isn’t just your customers who need to find your office. You also have to consider the convenience of access for yourself, your employees and your suppliers. London is well connected by public transport, road links and airports but the city centre itself can be a challenge to traverse, and especially so during the seemingly endless rush hour.

As such, your office should be conveniently located to take advantage of public transport links such as the Underground. A location within easy walking distance of a station will cost extra, but in the long run it will almost always pay dividends.

In fact, it may even make sense to locate on the fringes of the city to avoid the problems of London congestion altogether. Office space in the London periphery benefits from its proximity to the city, but avoids many of the problems associated with a large metropolis.

3. Size Matters

With rental prices per square foot higher than most other cities on earth it can be tempting to cut corners when leasing office space in London. However, when inadequate space leads to problems with running your new business effectively it can quickly become clear that skimping on space is a false economy.

Before leasing a property you need to consider your needs carefully, both for the present and the future. Think about your storage needs; the comfort of your employees; parking facilities; local shops and services, and your possible expansion in the years to come. Your new office should satisfy all of your needs and allow for the growth you’ll need to achieve in order to thrive.

4. Be Prepared

Something that often trips up start-ups on day one is the difficulty they find in securing any office space at all, no matter how poor the location or overpriced the premises. Landlords know that start-ups are prone to failure and early cash flow problems, and they almost always prefer to lease their premises to established companies with a proven track record.

To avoid disappointment you should give yourself plenty of time to prepare for the financial hardships of the early days. Landlords may demand a much larger deposit, a longer lease and more onerous penalties for breaking it than they would an established company, and the only way to tackle that problem is to make sure the cash is available to lay down straight away.

5. Shop Around

Finally (and this should go without saying), when searching for office space in London it’s vital to consider as many properties as possible. Never accept the first option, and don’t be afraid to think outside the box during your search. Work with estate agents, of course, but also speak to business partners and friends. Walk the streets and ask questions. With a little luck you may find a hidden gem in just the right location at just the right price.

Like most things in life, it just takes a little hard work.