28 Jun How To Minimise The Cost Of London Office Space
Although traditionally the ‘place to be’, London has the highest rent prices for office space in Europe. We’re taking a closer look at where these costs come from and how business owners can minimise them when looking for new office space.
Where Do Typical Office Costs Come From?
When you see the perfect office space, it’s easy to focus on the rent price. In reality, there are other costs to factor in. If you opt for a traditional office space in London, you’ll need to think about utilities, office management, cleaning, internet, furnishings, decoration, and more.
There are also costs associated with making the space suitable for guests, whether those are clients, partners, investors, or others. This might involve having large enough meeting rooms, a comfortable and well-decorated waiting area, and reception staff.
What’s more, if you decide to scale up or down, you might incur moving or expansion costs, including the time your employees need to take away from their day-to-day so you can make the necessary changes.
However, choosing serviced offices takes away many of these additional costs, meaning businesses can focus on running their day-to-day activities (more on this below).
Reducing The Cost Of London Office Space
1. Make a list of must-haves
Determining what’s most important will help you focus your search. You can gain a realistic idea of which spaces will fit within your budget and make sure you don’t splurge on less important features or miss crucial ones.
This might include local amenities, layout possibilities, internet speeds, transport links, parking, meeting room size, and scalability options.
2. Consider a serviced office
Serviced office spaces come fully furnished, so you don’t need to spend time and money on décor. They also have fixed bills, so you know exactly what you’re paying each month. Ongoing maintenance is taken care of, so your company faces fewer unexpected costs.
What’s more, serviced offices usually include reception services; there is someone on hand to greet your guests, answer queries, and manage post. This not only takes the burden away from your team but adds value by creating a seamless and professional experience.
3. Choose a local London office space
Central London might seem like the best place to be. But moving to local offices can significantly reduce the cost of rent. What’s more, working close to home can be a very attractive option for employees.
While you might not pay for your employees’ trip to the office, it’s something that they take into consideration. A recent survey of 500 UK workers showed that almost half plan to stay away from offices because of the high cost of commuting.
The Brentano Suite
At The Brentano Suite, we offer serviced office suites in North London and Elstree, making work easier and more comfortable for everyone back in the office. Your office is a reflection of your business. That’s why our office suites are finished to the highest standards.