Serviced Office Space News

UK small businesses remain defiant in the face of recession

A new survey has revealed that entrepreneurs and the small business community retain a confident and positive outlook in the face on the economic downtown.

Despite 84% of respondents believing the UK economy to be on the verge of recession, business leaders are delivering an unequivocal message that they will continue to prosper in the current climate. The significant majority of respondents expect to increase turnover, take on more staff and rate their prospects of business success as good over the next twelve months.

The survey has been undertaken by Evans Easyspace, the UK’s leading provider of workspace for small and growing companies. It targeted over 600 companies across the company’s 50 business centres nationwide.

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Serviced office discounts

Today I spoke to a friend whose company rents serviced office space in Manchester.

They have recently renewed their license agreement after negotiating a lower price.  The office is in a prime location in the city and consists of around 15 workstations.  From the serviced office provider perspective, this was clearly one tenant they would want to hold on to.

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Got a meeting in London? A tip for train journeys

Having spent so much of my business life travelling up and down the London to Manchester train line, using a meeting room, or visiting various office space buildings, I have always thought that I was a savvy traveler.

I always book far in advance, so that I can get a 1st class train ticket at a cheap rate - and I always travelled at what I thought were the best times.  Seems that I was wrong.

I have travelled down to the City on the 6am trains, thinking that I am avoiding the rush, and traveling back usually around 2pm-4pm.

Recently, two colleagues of mine have both caught the 8.35am trains to London, telling me that they were empty both times and this got me thinking…

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Serviced offices killer apps - where are they?

Now that the market is tight and people are more frugal, serviced offices, as readers of our news section will know, is a great option for businesses as it allows a flexibility that is not offered by traditional office space.

However, it has got me thinking again about something we have written about in the past - extra services that serviced office providers can give to clients.

Regus announced their disaster recovery product a few months ago now and this is exactly the type of product that we are talking about.  An extremely useful business product that also acts as a tie-in for customers, meaning a potentially longer-term lease from companies enjoying extra security for their business.

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London office space fightback to begin soon?

OK, we know that the recent credit crunch stories are gloomy and that London office space is at a low, but is the fightback to begin soon?

With prime City office rents down from around £65 to £57 per sq ft, office space values down 30% and 2.4m sq ft of more office space available in the city than in previous times, there are perhaps two ways to look at the situation.

Its a doom scenario, or its a time for companies to move in now that prices should be more palatable for companies who could have not afforded London office space previously.

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Cambridge office space performs well

Demand for Cambridge office space appears to be holding up well under the pressures of the credit crunch.

According to one of the local agents in that area, there have been recent requirements totaling over of 100,000 square feet. The interest has come from a range of different companies such as legal firms, public sector bodies, and IT businesses.

As you might imagine, the majority of requirements are for under 10,000 square feet, which is indicative of current market conditions. It is also believed that there is interest from serviced office providers establishing a greater presence in the city.

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Pay as you go hot desking

Virtual office setups are not really suited to all people. Some of us don’t like to be fixed to a particular address and some of us prefer to work from more than one location. In this scenario it is best to look at hot desking. How can you do this? Simple, buy registering with a serviced office provider it is possible to have access to a fantastic network of high quality business centres at prime city locations in the UK.

Many business centres work by charging a one off fee that allows you access to business centres and their facilities. Most will even give you a card that allows you a certain amount of hours. When you use the card the receptionist will stamp your card, then when you need more hours simply put more credit on. It couldn’t be simpler.

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Conventional office space vs serviced offices

Before the advent of Regus, serviced office space was pretty much an unknown quantity in the UK.  BR (before Regus) there was just conventional office space or managed office space.

Even today, serviced office space represents only a fraction of overall office occupancy so there is potentially plenty of room for growth.  In today’s difficult and uncertain economic climate, the serviced option is becoming increasingly attractive to businesses of all sizes. Some traditional office providers are looking to make their own offering more flexible by shortening leases from 5 to 3 years, perhaps realising that the straight jacket of fixed term leases is not viable for many businesses.

What I am going to examine today is why some business still may not be considering the serviced option and try to make the defense.

1. Serviced Offices are expensive

One of the most popular misconceptions is that serviced offices are expensive.  This is usually a misinformed and irrational view taken by those who have not made a detailed cost comparison for their business.  In times of increasing prices for gas, electricity and mortgages to name just three, the serviced option is a sensible way for a business to be able to budget their costs for the whole year.

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