Better offices await!
In short, on a like-for-like basis, a leasehold office is the most cost effective but in truth that might not be relevent to you. The long answer, it’s hard to compare such different approaches, with a short term office, your physical office will be smaller and on a price per sq ft basis more expensive, but for an company with less staff it gives you access to a larger building with better amenities included. With a long term office, you will save money across the term and get a larger space for your money, but there are more upfront costs and cashflow is a big consideration.
We may be biased here, but one of our agents can provide you with the following advantages:
Full market access
We have access to every office available. This gives you the confidence that whichever office you decide to take is the best for your business.
Time
Finding an office is a full time job (trust us on this…). We will manage the search and the bulk of the negotiations, while all you’ll need to do is handle internal discussions and allocate time for viewings.
Savings
Every agent and landlord we negotiate with knows we have access to every office and knowledge of the fairest rates. This puts you in the strongest possible position going into a negotiation, maximising the savings on any deal.
The principal reason is contractual. With a long-term office you usually sign a lease, which is an agreement giving you certain ownership & rights over the space. Things such as cleaning contracts, IT, fit out and furniture are all decided and managed by you. While it may mean a longer lead in time, this gives you the benefit of control over your workspace. Short-term offices only require a basic contract that’s much simpler to understand, you don’t have the same ownership over the space and it’s usually ready to move into.
For a short term office you won't need to, but for a long term office you probaly will.
Cost very much depends on the office and your personal taste. Imagine renovating a house - where some people may choose lino for their flooring, others may choose solid oak.
A space that needs a full refurbishment tends to range from £50-£150 per square foot.