When it comes to picking an office space in London, there’s a lot to consider. Whether it’s close to transport links, being near other like-minded businesses, if there’s a decent bar nearby for client meetings and Friday night drinks… And that’s before you’ve even thought about things like rent, bills and getting set up. Finding managed offices for rent in London takes care of a lot of the hassle that usually comes with finding an office space.
That’s probably why more and more businesses are opting to let somebody else handle all the headaches that come with setting up a new office and focus on the stuff that matters instead. And with lots of managed offices popping up across the capital, finding a managed office is getting easier and easier. But finding the right office for your business? That’s not so easy.
We’ve put this guide together, so you can learn everything you need to know about finding managed offices, what they can offer your business and what makes a great managed office space.
What is a managed office?
A managed office is a workspace that is usually run by a professional management company. The management company provides everything your business needs and lets you tailor your office space to your needs, usually for a fixed monthly price.
Essentially, a managed office is the middle ground between a traditional office and a serviced office. However, where most traditional offices are let by the desk, managed offices are usually let on the size of the office so you can pay for the space you need, not the number of desks used.
Renting a managed office means that you won’t have to worry about the headaches that come with a traditional office space like getting furniture, setting up the internet and being stuck with rigid contracts.
A managed office also lets you make a workspace your own by customising the space with whatever interior design, furniture or cheesy motivational posters you like.
Why choose a managed office?
Renting an office space in London is a big commitment for any business and making sure that you get the right workspace for you is vital. Many London-based firms are opting for managed offices and serviced offices as they offer several benefits that office options like co-working spaces and traditional offices don’t. Some of the benefits of a managed office are:
– Flexibility: The majority of managed office contracts have some degree of flexibility, and while the standard lease is usually between 1-3 years, lots of companies offer shorter contracts. This makes them ideal if you’re a start-up or a small business that wants a great office space but don’t like the idea of a long-term commitment.
– Enables growth and scalebacks: If your business is growing more rapidly than expected, the flexibility of a managed office lease allows you to scale up your office space to accommodate your growth. Similarly, if you no longer need such ample space, there’s room for downsizing too.
– Easy accounting: If you’re getting a new office in London, you’ve got a lot to think about. A managed office takes a lot of the stress out of rental agreements by having easy all-inclusive monthly or quarterly payments without any hidden costs. This means that businesses can budget effectively and not be left panicking at the end of the month.
– Less capital required upfront: Managed offices are tailored to your business’s exact needs, which means that they require less capital upfront and that you won’t need to fork out a substantial initial sum. This makes managed offices an affordable option for all business sizes.
What makes a great managed office?
A quick Google will show you that there are a lot of managed offices for you to choose from in London. And while many of them offer similar services, there’s a big difference between a managed office and a great managed office.
Those little differences can be the difference between your business’ success and failure, or the difference between your team being eager to get to the office and them groaning as they wake up and turn the alarm off.
A great managed office can be a massive contributor to your internal culture too, so it’s worth taking the time to find one that’s perfect for you. Some of the things to think about are:
– Aspirational space: Gone are the days of grey cubicles and grinding out the nine to five. Businesses are embracing new ideas about offices and creating areas that are open and collaborative. A managed office allows for a lot of customisation, meaning you can create a space that emulates forward-thinking brands like Airbnb and will be a constant reminder of the success you’re chasing.
– Inspires your team: The level of customisation offered with a managed office means that you can create a space that encourages your team to smash their goals. You’ll be able to decorate and personalise the space, not only to fit your brand identity but to make it an area that your team loves, which can give a massive boost to employee happiness and productivity. You can even include your team in designing the office to really boost engagement.
– Collaborative space: Collaboration is a crucial part of any modern business. Managed offices allow companies to adopt a culture of collaboration through facilities like meeting rooms and breakout areas where team members can get together to hash out strategy and projects and have those “aha!” moments. Many managed offices also offer fully-equipped kitchens and shower facilities, so you and your team can hit the gym at lunch and freshen up for the afternoon.
How do I find managed offices in London?
Finding office space can be a bit of a nightmare. If you Google “managed office spaces London”, then you’ll be faced with a long list of options, and it can get a bit overwhelming.
Before you start your search, it’s worth thinking about exactly what you need from an office. Think about things like:
– Office location (we’ll cover this more in the next section)
– Office facilities
– Transport links
– Are there places to take clients nearby?
– Are there places for your team to get together after work?
Once you’ve worked out exactly what you need from an office, you’ll be able to search with a far keener eye. With so many businesses offering managed offices, it’s a good idea to check out reviews and make sure that they’re reputable and there aren’t any red flags.
After you’ve checked out the management company and made sure they are trustworthy and won’t slam you with hidden costs after you sign a lease, you can start contacting them for viewings.
A lot of viewings are currently being held virtually due to the pandemic, but in the coming months, some viewings will be in person again. Either way, you’ll get a good idea of the spaces available and be able to visualise your business settling there (or not).
It’s a good idea to get a few different viewings and not just go with the first one you see; there are loads of managed office spaces available, so peruse a little, and you might find an absolute gem that’s perfect for your business.
Where can I find managed offices in Central London?
With the benefits that a managed office offers businesses, it’s not surprising that there is a massive demand for them across the capital. But when it comes to picking a location for your business, it can be challenging to work out whereabouts you want to be and where’s right for you.
Many companies opt for a managed office in the West End or East London. They offer two very different options: one is an area famous for its luxury brands, hedge funds and legal institutes, and the other is a diverse cultural hub that is home to creative businesses of all kinds.
Managed offices in the West End
The West End is right in the heart of London and is home to famous business districts like Mayfair, Covent Garden, Soho and Marylebone. You’ll find a wide variety of business in London’s West End from fine art dealers, hedge funds, jewellery brands, law firms and a variety of start-ups.
The West End attracts a particular type of company and clientele, so if your business sounds like it’ll be a good fit with these companies and customers, then office space in the West End might be a good choice for you.
Managed offices in East London
On the other side of the city lies the East End, which is predominantly made up of London Boroughs like Newham, Hackney and Tower Hamlets and is home to business hubs like Shoreditch, Old Street, Dalston and Hoxton.
The East End is home to businesses in almost every sector, from creative agencies and fintech start-ups to tech giants. Old Street is known as Tech City and is a perfect choice for any business that wants to be close to the financial area in the city and surrounded by successful and growing companies and brands. The cultural diversity and vibrancy of the area make it one of the most sought after locations for brands of all kinds.
What to look out for with managed offices in London
With so many available, finding a great managed office for your business can be tricky. But there are some things to keep an eye out for when hunting for your perfect managed office:
– Flexibility with your lease
– Customisable, creative space that encourages collaboration
– Fixed-price, all-inclusive rent
– A range of facilities like kitchens and showers
– A location that suits your business
If you’re in the market for a new office space, a managed office is a great option and might be the perfect choice for you and your team.
At Canvas offices, we offer managed offices for rent in Central and East London. We work with the best interior designers to create fully-furnished luxury office spaces that are modern, creative and inspiring. We like to go the extra mile by providing access to meeting rooms, both within and across our buildings, communal facilities, and breakout areas included in our rental prices. All of our offices can also be tailored to suit your bespoke needs. Get in touch to find out more about our private office spaces in Shoreditch, Old Street, Dalston, Mayfair and Clerkenwell.