The Managed Office division at Instant has been expanding rapidly over the last few months, with 5 new deals being completed since September.

New contracts for Managed Offices have been signed with private and public sector companies looking for a fully bespoke office solution with minimum input from the in-house property team. The requirements range from a project office for a large construction scheme in the West End of London, an office for an outsource provider in the City, to stop gap space in York for an organisation that is refurbishing its local head quarters. The offices provided are for between 20 and 300 people and range in term from 1 to 7 years.

Many corporate occupiers are finding that their in-house property teams are stretched, leaving them less time to negotiate the best deals, particularly for short or medium term offices. Coupled with the squeeze on budgets in many areas, this is leading occupiers to search for different and more cost effective office solutions, with less commitment to long term contracts and the flexibility to expand or contract as necessary.

A Managed Office allows occupiers to select a building exactly where they want it, to specify how it is laid out and furnished, and only to start paying for it on the day they move in. All the day to day running of the office is dealt with by a third party, as are any dilapidations and exit issues. Everything to do with setting up and running the office is handled by a single supplier in return for a fee that incorporates the costs from all the myriad contractors and that is fixed for the contract term.