A look at how managed offices are a natural evolution of the flexible workspace model.
The growth of coworking space in Melbourne, Paris, London, Tokyo, Berlin, Singapore and New York are seeing increased growth in the number of flexible workspaces on offer, while key global markets are expanding rapidly.
Centres that offer co-working, serviced and hybrid offices (a combination of both serviced, co-working and private office space) can now be found easily around the world. As companies turn to flexible workspace to decrease costs, avoid long-term lease agreements and facilitate new market reach, office space is evolving to satisfy a wider variety of business requirements. This includes larger companies looking for bespoke space but on flexible terms, and for requirements from 5,000 sq. ft. and above.
What is a Managed Office Space?
A managed workspace is a fully outsourced workspace solution. Everything is taken care of, from sourcing the property to its design, fit out and, ultimately, its operation; all conducted by a third party. This allows companies to focus on running core business functions while an experienced team such as Instant runs a customised and fully-branded office on their behalf.
With greater cost transparency, increased speed to market and more business agility, companies across a variety of different sectors are looking to this tailor-made solution to mitigate costs and expand their reach. For example, Instant has delivered more than 4m sq. ft of managed space across the world in locations including Malaysia, Israel, Germany, the UK and US.
Benefits of Managed Offices
When procuring managed office space, the 3rd party provider will handle the entire process – from finding the right space for the client to negotiating with the landlord and formulating the costs involved in the process.
The 3rd party provider will then design, build and fit out a space to match client demands, deal with furniture, fittings, IT and telecoms, and manage all services once a client moves in, allowing them to simply focus on running their business.
- Fully-Customised: Bespoke fit-out and design enables businesses to operate in fully branded office space.
- No Hidden Fees: Businesses of any size can access managed workspace and all associated costs are rolled up into a single quarterly fee with no hidden fees. The entire process is managed from start to finish by a single managed office provider with total cost transparency and market benchmarking
- Flexibility: The lease for a managed workspace can be negotiated and procured according to your needs. This includes:
- Finding your preferred building and handling your exit when ready
- Access to expert advice and resources
- A reputable partner to deliver your bespoke workspace
- Speed to Market: Managed offices can be set up faster than a conventional workspace, which means there is little to no downtime when moving in.
Difference between Managed Offices and Serviced Offices
Managed offices and serviced offices are both flexible workspace solutions that are well suited to companies looking for cost-effective, agile alternatives to conventional, leased office space. The key differences are as follows:
Managed Office | Serviced Office |
---|---|
Designed to specification with customised branding - Your Culture - Your Design - Your Workspace | Pre-designed, fully kitted-out facilities and amenities |
Built and fit-out according to business needs and budget | Usually a floor or a few offices in a larger building |
Low upfront capex with everything included in a fixed quarterly payment | Typically based on a fixed monthly rate per person or workstation |
Flexible lease terms for 50+ people | No capital outlay required |
Move in within as little as 6-8 weeks | Move in on the day you sign |
Suitable for any requirement of 18 months+ | Suitable for any amount of time from 1 month+ |
Your Own Managed Office
The Instant Group provides a bespoke managed office solution that covers upfront capital costs, reducing any risk for the client.
Instant’s Head of Marketing John Williams says, “We have worked with organisations from London to Kuala Lumpur, but the client’s objectives are relatively similar. They want assistance locating, procuring and operating their office space to mitigate cost and increase business agility. When office space is the second-biggest cost to most businesses, our solution represents a significant saving of time and money.”
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