The Benefits of Renting a Flexible Office
The last 5 years have led to a shift in the UK workspace market due to the huge benefits of renting a flexible office compared with leasing your workspace. Factors such as Brexit and the Covid-19 pandemic has meant that businesses needed to revaluate their workspace requirements and their real estate strategy. Predictions that the pandemic could lead to the “end of the office” have been proven to be way off the mark. In fact, this shift in the commercial real estate market as resulted in a significant rise in the growth of flexible workspace. If you are not familiar with the term “flexible workspace”, think of “serviced offices” (like Regus, WeWork, The Office Group etc.) and you’ll be on the right track.
During the last five years the number of flexible workspaces globally has grown by 150%, with around 2,300 new flexible workspaces opening, on average, every year. Despite the challenges of COVID-19 and, in fact, partly because of them, the flexible office market is now picking up significantly and the outlook is extremely positive.
If you’re still unsure about the term ‘flexible office’, read on to discover what exactly it is and the key benefits of renting them.
What is a flexible office?
A flexible office is a fully furnished office space that’s ready to move into and available on a flexible short- or medium-term rental agreement. In a flexible office, an operator takes on the responsibility of maintaining the building and usually provides additional services and facilities. A lease on a flexible office is generally shorter in term, for a few months or longer, allowing businesses the option to expand or reduce their space depending on their requirements. This is all done to be cost-effective by allowing businesses to pay only for the space they need.
Flexible offices vary in size from single desks right up to whole buildings and everything in between. Often these offices contain shared amenities like kitchens, breakout space, outdoor space, cycle racks and event spaces, giving companies access to infrastructure you may not otherwise have been able to afford.
Key benefits of renting a flexible office
1. Flexible, short-term agreements for maximum agility
In a word - flexibility. Flexibility is the primary benefit of renting this type of office. Firstly, you have flexible terms whereby you can rent an office from just one month through to two years or more. Secondly, you only pay for the space you need, you have flexibility to expand or contract the space you require each time you need to renew your lease. Thirdly, you have the flexibility to choose the type of workspace that suits you best, enabling you to work how you want, where you want and when you want.
2. Cost-effective workspaces
Flexible offices can help you achieve savings, preserve capital and reduce overheads. You only pay for the space you need. You don’t need to budget for significant fit-out, set-up costs or capital expenditure. Unlike leasehold property, there are no dilapidations costs and no obligation to return the office to its original state upon exit.
3. Access to all the facilities you need for smooth business operation
In a typical flexible office for rent, you’ll find that utilities, internet, phones, kitchens, cleaning and maintenance services are all provided. In the current climate, flexible office buildings are offering luxury amenities with flexible terms and great pricing. London has some of the best coworking spaces in the world which are easily accessible for businesses of all sizes.
4. No building maintenance costs or headaches
In a flexible office you are not responsible for the maintenance of the building, so not only do you avoid the costs of maintenance, you also avoid all the administrative work that goes with it.
5. Administrative support for better productivity
Nearly all flexible offices for rent provide administrative support to help your business run smoothly. IT support will keep your business on-line, a reception team will manage comings and goings and mail handling services are the norm allowing you to focus on running, and growing, your business.
6. All-inclusive costs for easy financial planning
Flexible office costs are typically covered by a simple all-inclusive monthly charge. This is usually expressed as a price per workstation, per month. This helps your business with financial planning and avoids dealing with a pile of invoices for your various office charges.
7. Immediate availability avoids downtime
Flexible offices are quick to find and are easily accessible, allowing you to move in quickly. They are ready whenever you are. You can sign the deal one day and start working there the next. The days of finding temporary space whilst your office is being fitted out is a thing of the past.
8. Networking and collaborative opportunities
Buildings that feature flexible offices will usually have several other businesses based there. Shared spaces like breakout areas, dining areas, gyms and outdoor space all present excellent opportunities to network. Many of these buildings all now have an events schedule where it encourages businesses to get together, learn or train in new skills.
9. Open up global markets with low risk
Flexible workspace is a global market. You can rent a serviced office anywhere in the world to help you branch out into the local market quickly and with low risk. Using a reputable broker like Office Freedom, you can access the world of serviced offices for rent from one point of contact and leverage expert local knowledge.
10. Fabulous amenities that attract and retain staff
If you thought flexible offices were like the grey mundane offices of yesteryear, think again. The range of amenities available is staggering. Yes, most offices nowadays have a kitchen, free coffee and meeting rooms but what about: phone booths, gyms, showers, bike racks, bar lounges, roof terraces, cafes, event space, wellness classes and pet friendly policies? Take a look at our pick of the best serviced offices in London and you’ll be blown away.
11. Work near home for a better work-life balance
Flexible offices are at the forefront of the drive to facilitate remote and hybrid working, providing workspace near home. For businesses downsizing from large city centre HQs, flexible offices provide an ideal halfway option. For employees unable to work effectively at home, working from a serviced office nearer to home is a great solution.
12. Sustainable healthy workspaces for improved wellbeing
Flexble office operators have been some of the quickest to adapt their premises to a sustainable agenda. And the wellbeing of occupiers has long been a central focus for serviced office providers many of whom offer fitness classes, wellness events, and community programmes to complement their ergonomically designed offices.
Who uses flexible offices?
Start-ups and Entrepreneurs - Start-up businesses and entrepreneurs have always been drawn to flexible office spaces. The ability to rent short term and avoid long term contracts and hidden costs has always been appealing.
Scale-ups and growing businesses – Start-ups who have moved into the scale-up phase need to find suitable offices quickly and workspace that has scope to expand. Established businesses that have outgrown their leasehold space are also drawn to flexible offices.
Businesses expanding into new markets – Businesses that seek expansion into new territories rely on flexible offices to provide them with a quick and low risk base when exploring new regions.
Project Teams – Project teams that need a fully resourced space to fulfil a contract or task are an ideal match for serviced offices.
Corporate and Enterprise business - Large corporate enterprises are utilising flexible offices to fulfil a range of requirements. Some are embracing the flexibility and agility that these offices provide. Others are using it to support a hub and spoke real estate strategy.
Find a flexible office for rent to suit your business by getting in touch with one of our brokers today.
Top flexible offices across the world
Excellently positioned in the hustle and bustle of London’s West End, this luxury serviced office is the perfect place to meet, greet and impress clients. Designed with a high spec including beautiful furniture dotted around for more informal working areas, Uncommon in High Holborn also features an in-house bar, meeting rooms and wellness area.
Part of a global network of workspaces where companies grow together. At this convenient Park Avenue South address, discover floors of coworking and private offices that cater for all your needs. Designed to promote productivity whether you’re a team of one or 100, and month-to-month flexibility means your space is just as agile as you are. One all-inclusive rate makes things easy.
This vibrant Bonham Strand flexible workspace offers close proximity to Sheung Wan Station, Macau Ferry Terminal, and Hong Kong’s Central Business District. Spanning 15 floors in a 29-story tower, this dynamic office features art-filled lounges, modern conference rooms, and sleek private offices that encourage uninterrupted productivity.
This serviced office for rent in Sydney is situated in the heart of the city centre. From the centre’s 26th floor offices, the 360-degree views to Darling Harbour and Sydney’s skyline are breath-taking. The Market Street location is a diverse and ideal location, which is known as a hub for both business and pleasure.
Find a serviced office anywhere in the world here.