A Guide forall businesses

For getting the most from your office search/office broker

TOPTENTIPSEasy Offices Publications

Contents

/ Introduction / page 3

1 / Location / page 3

2 / Timescales / page 4

3 / Terms / page 4

4 / Size / page 5

5 / Office Style / page 5

6 / Telecoms / page 6

7 / Facilities / page 6

8 / Expansion / page 7

9 / Pricing / page 7

10 / Communication / page 8

/ Conclusion / page 8

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Introduction

Easy Offices has over the years become the leading specialist in sourcing serviced offices in London and the rest of the UK.

Our easy to follow guide is packed full of advice answering many of those common questions you have when searching for office space, whether you are looking your first office or are a well-established company that are expanding.

It is important to note from the start it is not easy trying to get the balance between affordability and getting the perfect premises to accommodate your requirements. This is where an office broker such as Easy Offices can help bring the perfect office space to you.

We have pooled together our vast experience to bring you this easy to follow guide. It is broken down into our top ten areas of consideration that we believe are vital in sourcing your ideal office space.

Location

Location is everything when it comes to choosing your ideal office space. You may have fallen in love with an office that is in the middle of nowhere but if your clients, employees and suppliers have problems locating you then unfortunately your business will not survive for very long. Your office broker will work closely with you, understanding your business to find the ideal location.

When choosing the location it helps if you can be specific as it will provide support with the search process. If you can specify a postcode or an area of a city then it will put you in great stead. The reason for this is that your office broker will be able to quickly provide you with a range of properties in your desired area.

Be clear from the offset what your objectives are and what you want from your office location. Do you want to be close to the city centre or prefer being out of town? To help you pinpoint a location ask yourself the following questions:

1 / Is it located close to your clients? Central city locations are the ideal place. They contain fantastic transport links for your clients. Mapping common journeys will help evaluate how

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close you are to your clients and also your employees. You will want to make the journey to work as simple as possible.

2 / Is the neighbourhood safe? If your ideal premises seem cheap, there is often a good reason for this? Your employees and visitors will need to feel safe when visiting your offices and is vital the area has a good reputation.

Timescales

If you are moving from an existing serviced building, have you been given an exit date? And more importantly can your new serviced office space accommodate this exit date. In other words if you need to vacate your existing building on a Monday can the new office space allow you to commence your rental agreement on the Tuesday.

It is extremely important from the outset to establish what your likely timescales are. Make your office broker aware what your plans are and how soon you envisage the move to be. The main reason for this is that your office broker can source properties that are vacant at your chosen time. Your office broker can sometimes find out which current tenants leases will be coming to an end at the time you are looking to move. Having a specific timescale makes the whole search process more directed.

Terms

Regardless of whether you are looking to rent a small amount of office space or are a larger business wanting to have a large floor space, a package should be created and tailored to suit your needs. The office space should be available on flexible terms to suit you and your business. Be clear on specific terms before approaching your office broker as this may affect the properties available to you.

Terms also have an implication on price. Often the longer the term the lower the price you’ll pay. It is worth bearing this in mind and if possible be flexible to take a longer term contract should this be the case.

Size

Serviced offices are often quoted on a per workstation basis (WSTN). Workstation prices are quoted so you can approximately work out how much the office may be even if you don’t know how much actual office space by SqFt (Square Foot) you need ie you will probably know if you need a four or a six person office.

As a rule of thumb for serviced offices we suggest 70 SqFt per person, however, you may need more or less than this depending on how your company works and the budget you have

When taking a serviced office solution you’ll need a lot less space than if you were taking out a conventional lease. For serviced offices you only need to calculate the actual space you’re going to work in (Net Space) rather than the Gross Space for a conventional lease where you need to calculate the space you’ll work in, along with space for reception areas, walkways, dead areas, meeting rooms, toilets, kitchens etc. As a general rule you’ll tend to need double the amount of space for a conventional lease over a serviced office.

Office Style

It is no secret that one of the most important aspects of business is the image it portrays.

It is important to consider the style of office you require. If you are a modern company that has a contemporary vision it is likely you will not be looking for a traditional or period office but a chic office with state of the art technology. Consider what is more important, a building that offers the wow factor or one that has the facilities you need and is economical?

The more specific you are in regards to the office style, the more your office broker will be able to short list a number of properties that are very specific to your needs. The type of property you want can have a big influence on the price.

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IT and Telecoms

The internet and emails are the lifeblood of most companies and it is important to consider your business usage when looking at serviced offices. There are often standard packages available for both IT and telecoms however most requirements can be met. For example for a heavily IT based company, large bandwith pipes can be sectioned off to provide the service needed.

For serviced offices your telephone and internet rental are often not part of your monthly agreement, there are however all inclusive deals which are worth asking about.

For all inclusive deals be aware that depending on the terms and conditions in the contract, telephone and internet services may very well be capped and if your business frequently goes over this agreed cap amount the additional costs will need to be covered.

Terms and conditions for IT and telecoms are usually flexible and contracts can be adapted for your company’s specific needs.

It’s important to be clear on what services you need when looking for office space, if you know you will have heavy or specific requirements these can be discussed and a mutually convenient solution agreed. In some circumstances it may be possible for you to use your own supplier.

Facilities

In addition to common facilities such as a kitchen, toilets etc, it is worth thinking about what extra facilities your business needs or would like to have.

Serviced buildings should also take disabled visitors and employees needs into consideration, providing adequate access to much needed areas of the building. Consider any additional facilities you may require and raise these points with your broker. Other facilities can include but not limited to access to an in house café, gym, post room, showering facilities, bike racks etc.

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Expansion

The purpose of this section is to encourage you to take a moment to think about your business plans and what the future holds for your business. Do your current office space requirements take these plans into consideration and do they really need to when considering a serviced office?

Serviced office space terms are usually available for 3-12 months although shorter and longer terms can be found.

The rigidity of more traditional Lease Agreements are not applicable to Serviced Office Space, a greater degree of flexibility is the norm. You can build into your contract a ‘step deal’ where you can increase size at specific dates and there is the option to expand without penalty, allowing you to move into larger offices if you need to expand or add staff members.

Pricing

For traditional leased offices the cost of your office space is usually charged on a “per square foot” basis.

However serviced office space is often priced per workstation as discussed in point four of this guide.

This pricing structure takes into account many of the variables such as rent, rates, service charges, utilities, furniture, IT and cleaning and provides an inclusive cost for each work station.

There are no credit checks conducted but deposits are normally 2 months up front with rent payable in advance. Certain companies will offer no deposit incentives or be more flexible, your office broker can advise of any promotions that are being run.

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Communication

Clear communication with your broker is essential. The more information you can provide on the office space you are looking for the better.

Your broker is there to make the search process as easy as possible and to answer any questions you may have. They will do the leg work for you provide you with an accurate and current list of suitable offices in the area that you are interested in.

Your broker can advise you of any promotions or incentives that may be available but the choice is your own to make independently.

Once you have viewed the offices you will be emailed proposals for the offices you have seen. The price will vary depending upon term and stock levels but this is time to negotiate if possible as good a deal as you can.

Viewings are arranged through your office broker but viewings and negotiations are done with the office company directly.

Conclusion

Regardless of whether you are looking for your first office or are expanding there are plenty of office spaces options available to you.

Remember our top 10 tips in order to get the most out of your search for office space and getting the most out of your broker.

The clearer and more concise you can be about the 10 main areas the better. If using a tight criteria doesn’t yield the results you are after, you can always widen your search.

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