What Type of Space is Right for my Business?

What is serviced office space?

A serviced office space is an all-inclusive office that is fully equipped and managed by an office ‘provider’, who rents individual offices, floors or desks to other companies and individuals. Nowadays, serviced office spaces come in various sizes and range in their quality, amenities, working patterns and costs.

A serviced office space is ideal for start-ups, small businesses and scale-ups – essentially companies who don’t know their headcount and require flexibility in the length of the contract term and cost.

A coworking office space is a type of serviced office space. In recent years coworking offices have become one of the most popular workspaces. The collaborative potential sits at the centre of coworking space and is ideal for entrepreneurs and freelancers who value being part of a community, networking and collaborating with similar stage businesses.

Rate

You pay per desk per month. This allows start-ups and scaleups to avoid committing to long contracts and payments during uncertain times.

Term Length

The most common contract for a serviced office space is 12-months with a three-month notice thereafter. However, most providers are willing to offer three, six or nine-month initial periods. For a coworking office space, contracts initially start with a three-month commitment period, that will change to a rolling monthly notice.