Average stay rises for occupiers of serviced office space in the UK
According to recent examination of occupancy figures by the BCA (Business Centres Association), there is a significant rise in the average length of stay of serviced office occupiers in the UK. It usually seems that prospects only move into serviced office space for a short period of time, however, the 2008 figures have clearly shown that tenants tend to renew their contract for up to 3 years at the end of their initial 3 months agreement. Abbey Business Centres also announced this week an increase of approximately 10% of the average stay per client in 2008 compare to 2007.
This trend across the board within the serviced office industry is actually great news, as it means business centres are likely to maintain at least the same revenue levels they delivered in 2007. It also demonstrates that serviced offices are actually catching up in popularity with the traditional office space. Particularly in this current economic uncertainty, businesses are looking for an easy-in-easy-out and flexible type of office space with no hassle, allowing them to concentrate on the success of their business. The serviced office provider’s success is a direct result of such a great customised solution to all modern business needs that serviced office space delivers.
Businesses seem to start having a better understanding of what serviced offices are all about only once they’ve moved in. Unfortunately, there are still so many businesses with a misunderstanding and pre-conception of what serviced offices actually are. Ms Calder from Abbey business centres comments: “Anyone interested in a conventional lease just now will be offered some fantastic perks like extended rent-free periods but they will still be required to enter an agreement that commits them for several years. People always forget to add in rates, serviced charge, utilities, furniture, telephone lines, light bulbs, toilet rolls, all the things we provide which they take for granted.”
To fully understand how hassle-free and cost effective it could be for your business to be based in a serviced office building, then the best way would be to contact an expert. Call Search Office Space, the original serviced office broker, to talk to experts and arrange viewings of buildings, as you may actually be only a step away from you ideal office space, joining an ever growing list of occupiers staying longer in serviced offices across the UK.
Written by Emily Mouquot, Marketing Director.