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What are Serviced Offices? |
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Serviced offices or business centres are a relatively new and innovative approach to office space leasing, and provide the business user with immediate, fully-fitted office space.
Serviced offices provide immediate occupation of fully fitted turnkey offices, with a complete range of support services also available. This is an ideal scenario when space requirements are difficult to predict. A start-up company often does not know how quickly its staff numbers will grow even in the short term and might not wish to commit to space on a conventional lease which generally range from 5 to 25 years.
Serviced offices provide a launch pad for small companies and start-ups. A recent survey commissioned by Always Available showed that 80% of the current serviced office demand is for units for 6 people or less.
The pace of change within the high-tech sector has led to many companies expanding at
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unforeseeable rates. They are unwilling to commit to lease terms beyond two years and property
costs are a small price to pay for keeping a competitive advantage relative to customer demand. The
"new economy" is encouraging a shift in practices which has been met by the serviced office providers and gives greater choice to the occupier. Market is now well established and providers have even focused on niche business centres appealing to distinct industries.
In summary, the sector is still in its infancy. Many corporate occupiers would not have even considered serviced offices 10 years ago, but, according to the Always Available survey, over a quarter of respondents believe that the concept is now better understood and is attracting new customers. Over half the sample believe that large occupiers should consider serviced offices as an alternative to conventional leasing.
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