Serviced office space is less daunting and expensive than traditional leasehold rental for businesses that are starting out, says expert.
Finder’s fees and legal fees associated with leasing office space can run into thousands of pounds whereas these fees do not apply to serviced office lettings.
Traditional leasehold office rentals generally require a 6 month deposit whereas serviced offices can be secured with just 1 month’s rent upfront, offering businesses a greater degree of flexibility.
“Flexibility - what about when your business expands and additional team members are definitely required - in a Traditional leased office, either take on more space than initially needed (plus space that may only rarely be used like meeting rooms) or move to bigger space” said Richard Smith, managing director of Search Office Space.