A serviced office is a furnished and fully-equipped pay-as-you-use office space, located in a building managed by an operator. Operators will rent out single serviced offices or whole floors to their clients, giving them access to private, ready-to-use office space on flexible terms.
More businesses are looking to flexible commercial property options like virtual offices and serviced offices as an alternative to conventional office space. As opposed to long leases and hidden costs like maintenance, facility costs, furnishing and equipment installation, serviced offices are managed, fully kitted out and offer transparent monthly, all-inclusive fees. Flexible leases can provide access to office space by the month, enabling businesses to scale up or down as required, and secure office space for remote teams around the world.
Serviced offices are also called executive offices, managed offices or business centres. Companies that manage serviced offices are responsible for maintaining the facilities and accommodating businesses. Whether a single office is needed, or adjoining offices are combined for a larger number of employees, spaces can be configured for the best results. This type of flexible workspace is part of a growing global shift as businesses look for more agile ways of procuring office space.
Key Benefits of Serviced Offices
1. Flexible, short-term leases
Serviced office rental terms are flexible, and many spaces offer contracts for as briefly as one month. This is ideal for businesses looking to remain agile and work in a space that can expand or reduce at short notice, in line with their business plan.
2. Cost-effective with no downtime
Businesses pay only for the space they need in a serviced office, and most are furnished and pre-cabled, providing access to high-quality equipment. This means no downtime while moving in, and can help to free up extra cash for other business priorities.
3. Access to all the facilities needed to run a business
Standard facilities in serviced offices include fully-staffed reception desks, kitchens, lunch areas, cleaning and maintenance services, meeting rooms and networking spaces. Businesses can also access additional pay-as-you-use services and facilities. There are no hidden costs, which allows for easy budgeting.
4. Access to new markets
Business centres, executive offices or serviced offices are available in several locations around the world, giving users a wide choice when it comes to establishing a base. This gives businesses the opportunity to set up at an address that would otherwise be unaffordable and also provides access to business centres around the world.
Serviced Offices vs Coworking Spaces
| A serviced office is ideal if you need: | A serviced office is not ideal for businesses that: |
|---|---|
| Access to desirable business locations | Want a strong brand identity or culture reflected in their office space |
| Lower costs than traditional leases | Want bespoke solutions |
| Flexible lease terms | Need complete control over meeting rooms and communal spaces |
| No building maintenance hassles | |
| Access to administrative support | |
| Access to private meeting spaces |
Serviced offices and coworking spaces are suited to different needs. Serviced offices are ideal for businesses looking to reduce their overheads and expenses by balancing flexibility with stability. Coworking setups are better suited to freelancers and lean start-ups, especially those with a strong collaborative culture. Desks in coworking spaces can be rented by the hour, day or month, while serviced office spaces are leased monthly. Coworking spaces may provide basic infrastructure but won’t typically have the administrative support that serviced office spaces provide.
| A coworking space is ideal if you need: | A coworking space is not ideal for businesses that: |
|---|---|
| More flexibility | Need total privacy or have strict confidentiality terms |
| The option of a short-term lease | Need a large amount of administrative support |
| Highly social, creative and collaborative space | Want control over office layout, branding, etc. |
| Low costs and low commitment |
Examples of Serviced Offices Around the World
Everything Needed to Run a Business
In addition to cost-effective rental options, tenants in serviced offices can share various facilities and services to reduce costs even further. This gives new businesses access to equipment that might otherwise be an enormous cost, without having to outlay capital.
| Serviced office facilities include: | Services include: |
|---|---|
| Office furniture | Fully-staffed reception desk |
| Kitchens | Office cleaning |
| Conference and meeting rooms | Maintenance |
| Breakout rooms | Security |
| IT and telecoms |
As well as standard facilities, many business centres offer additional pay-as-you-go services, such as admin support, storage facilities and others. Some also boast onsite restaurants, sports centres, gyms, events areas and more. Centres around the world make it easy for businesses to secure office space for remote teams or for staff who travel.
Who Uses Serviced Offices?
Start-ups and entrepreneurs: Serviced offices are ideal for businesses and startups looking for office space without being tied down to long-term contracts and hidden costs.
Businesses expanding into new markets: Businesses looking to expand into new regions or countries and who require access to business centres around the world with short-term rental options.
Businesses experiencing growth: Large companies tied into a conventional leased space they have outgrown and who are looking for an interim space for employees or teams.
Project-based teams: Teams who need a fully-equipped workspace in a specific location for a short period while fulfilling a contract.
Still confused by office rental terms? We’ve created a useful Glossary of Flexible Office Space terms, whether it’s hybrid, hotdesking or flexi working you’ll find all the explanations you need.
Find a Serviced Office in your area or discover the other types of office space we offer, including:
– Leases, sublets and workshop units
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