Serviced office spaces may be a more attractive option if the business wants to occupy a commercial property for a short span of time.

A serviced office is a workspace that comes furnished with internet, phone lines, devices (e.g., printers), desks and can include secretarial services.

Providers offer serviced office space on short-term or long-term arrangements.

Benefits

The benefits of a serviced office space compared to a traditional commercial lease include:

• Flexible terms – the term of the lease can be as short as a month.
• Accommodates growth – serviced office providers can allow upgrade or downsize as necessary.
• No set up time – the offices (including desks, technology, phone lines, etc.) are ready to go as soon as the business moves in.
• Useful services – offices can come with receptions, bookable meeting rooms, etc.
• Flexible lease agreements – the notice periods for ending the lease are typically much shorter than those under traditional commercial leases.

Cost

Working in a serviced office can be more expensive compared to other types of workspace, as the benefits above are factored into the price.

Fees are usually charged per desk on a monthly pay-as-you-go basis, and can depend on:

• the size and quality of the space;
• the services and facilities on offer; and
• the location of the office.

The cost of a serviced office in London can range from £600 to £750+ per month, while Cardiff and Bristol are significantly cheaper at approximately £275 to £300 per month.

Providers also charge an additional fee of approximately £35 per desk for internet access and telephone use.