Office

Upsizing or downsizing, establishing a second or even third office, relocating to a more prestige location or simply finding somewhere that is more affordable in uncertain times – these are many of the reasons that you may be looking for a new office space in London.
While location, location, location is always going to be the mantra when it comes to finding residential property – and may still be a significant factor in choosing commercial office space in London, depending on your sector and your particular needs – there may be another more important choice to make before you decide exactly where you’re going to move to: should I rent a serviced office space or a conventional leasehold commercial property in London?
Each has its benefits and its drawbacks. However, the following key factors should help you decide:
1. Flexibility of contract
There is no real question that serviced office space is more flexible in terms of your financial commitment – contracts tend to be extremely short and can be terminated with little or even no notice. A standard leasehold agreement for a conventional commercial office space in London would be for 5 years with a break in the 3rd year so represents a far more long-term commitment. However the flexibility of serviced offices comes at a premium and generally you would pay much more compared to a conventional space.
2. Flexibility of space
While contracts are flexible with a serviced office, your use of the space will not be and it is likely that, not only will you have to abide by regulations when using the space, but you will also be unable to redecorate or personalize the space to suit your business needs. That said, you can upgrade or downgrade as required – so if the physical nature of your business changes you can adapt quickly and easily.