Serviced Office Trends 2015
As the year comes to a close, we’re beginning to see the first 2015 market reports being published. One aspect that has been of huge interest in terms of commercial property research this year has been serviced offices as. Like coworking spaces, these alternative forms of business accommodation have been hailed as the ‘next big thing’, particularly for small businesses looking to minimise their costs. So what’s been happening with the serviced office trend during 2015? And will it be successful next year?
The Serviced Office Space UK Market Review 2015 gives a unique insight into how the serviced office trend has been growing and evolving during this past year. The three primary findings were:
The average rent for a serviced office increased by 37 percent during 2015. The biggest rent increases were seen in the South West and the North West of England, while serviced offices in Scotland and Wales typically saw much lower rent increases of 10 and 4 percent respectively.
As well as the average rent for a serviced office space rising this year, the average cost of a desk (the cost per person, per month) has also been steadily rising, from £310 in 2014 to £426 in 2015. London showed the biggest rate increase, while Wales again showed the lowest rise.
In 2014, the average size of a typical serviced office to accommodate a single company was 5.5 desks. This year, that number has increased to 5.8 desks. Interestingly, the size of serviced offices in London is actually falling (from 8.1 to 6.7 desks) while it’s increasing in the North East.
These findings tell us two very important things: firstly, that small businesses in the UK are wanting more space as they anticipate rapid growth, and secondly that as the popularity of serviced offices is rising, the cost of renting a serviced office space is also increasing. Ultimately, we’re wanting more, and we’re having to pay more, too. So how can small businesses help to keep their costs to a minimum?
Compareyourbusinesscosts makes it easy for small businesses in the UK to compare the rental rates of local serviced office providers online, helping them to identify the most affordable rates for their needs. Serviced offices are proving to be a suitable alternative for small businesses and start up ventures who don’t want to commit to a full rental contract for a commercial property, and often include many extras as standard, including property maintenance, but remember: there’s no need to pay more than you need to!