Looking Into The Costs Of Serviced Office Spaces 

Published On 27th August 2021 by Kerri McMahon

It isn’t uncommon for businesses workspaces to be one of their biggest expenses. Depending on which type of workspace they have, whether they use a coworking space or own an office building, they can spend hundreds or thousands of pounds on a place for their employees to work. Whilst some will pay this cost without a second thought, others will search around for the most affordable and cost-effective workspace solution. 

 

More often than not, for businesses that require a private office, a serviced office space is one of the best options available in this regard. Often, when renting this type of office, you will be required to pay one all-inclusive monthly license fee making your workspace incredibly easy to budget for. If you’ve never thought about renting a serviced office before and you’re wondering what is included in the cost of this space, below we have looked into this in more detail.

 

Property costs

 

As you may expect, the monthly license fee that you pay for a serviced office will cover the rent for the space that then becomes your office. However, it will also cover other property costs such as service charges and building insurance, whereas this would usually be an additional cost when renting a space in a traditional office building. 

 

Depending on the business centre or serviced office provider that you turn to for an office space, you may also find that things like business rates and carbon costs are also covered by your monthly license fee as well, so you won’t have to budget for them separately. Having all of these basic costs covered by one simple monthly payment is what makes this type of office space so popular amongst business owners. 

 

Operational costs

 

Unlike other rented spaces, when you opt for a serviced office, you can expect a number of operational costs to also be included in the monthly license fee. Generally speaking, building maintenance, office cleaning and building security will all be covered by this one monthly payment, as will facilities management and reception services. 

 

It is incredibly common for the monthly license fee of a serviced office space to also be inclusive of utility bills such as; water, gas, electricity and sewage, so you won’t have the hassle of dealing with these additional extras yourself. Sometimes, within operational costs will be things like social events and networking events too, and when you rent a private office space, you will be able to benefit from these events without having to pay extra for them. 

 

Capital expenditure

 

Often, as well as your monthly license fee covering the cost of a flexible office space, it will also cover the cost of the other facilities within the building, such as; kitchens, breakout spaces, lounges, meeting rooms, phone booths and reception areas. So, you won’t have to pay an additional fee in order to use these commonly required facilities. 

 

You may even find that the best serviced offices have plenty of other capital expenditure costs included in the monthly license fee too. Sometimes, things like agent fees, SDLT and site surveys won’t need to be paid for separately, making your up-front costs significantly less than they would be for any other workspace. It isn’t uncommon for the total fit-out of the office, including interior design and furniture, to be covered by the monthly license fee as well. 

 

Getting a tailored cost for a serviced office space in London

 

Hopefully, you will now know a little bit more about the different costs of serviced office spaces and what you can expect to get for your money, so to speak. There really is no denying that when compared to buying a commercial property or renting a conventional office, a serviced office space is much more cost-effective and it is definitely a workspace solution that you should explore in more detail when you’d like an affordable private office. 

 

To find out more about the cost of a serviced office space in London for your business, please contact us here at One Avenue. We have flexible workspaces throughout the capital and we will gladly discuss your individual needs with you in more detail before providing you with an estimated cost for your monthly license fee with us. You can rely on us to be completely honest and transparent about the average cost of renting a serviced office in London, and hidden fees won’t be something you have to worry about when you turn to us for an office space.