Choosing Your First Serviced Office in Central London

Ready to cross the threshold of your first serviced office in Central London?

Congratulations! This moment marks an impressive break through in your company development. You’re on the brink of upgrading from a home-based sideline into a fully-fledged business, opening an exciting world of opportunities.

So, what address do you picture on your business card? The soaring Shard at London Bridge, the iconic Gherkin at St.Mary Axe, or a corporate office in Canary Wharf? Decisions, decisions.

First, let’s take a few steps back. Before you set your heart on that top floor corner office, you need to bear a few things in mind. Choosing your first serviced office in Central London requires careful thought and planning. It is important to ensure you find the ideal space to support your business growth ambitions.

Here, we walk you through the top most important elements of searching for your first serviced office in Central London:

Location:

One of the most important things to consider for your office is location. Leaving aside the issue of cost, consider your main objectives of setting up in a serviced office in Central London. If your top priority is being close to your main client base, consider this alongside the competition from other businesses operating locally within your market.

However, setting up in an area that’s renowned for your specific product can be a strategic decision. Clients expect to find you there, which is a bonus for external PR and marketing. For instance, The City and Canary Wharf are traditionally associated with financial and insurance institutions. East London (specifically Tech City) on the other hand is a hub for growing tech firms. Falling in line with industry expectations can be good for business, especially if it means you can keep a close eye on your competitors.

Transport connections:

Plan out your daily commute and consider how long (and painful) your journey could be depending on where you settle. It’s worth identifying the main train and tube lines close to your home, and prioritising offices close to stations on your line. It may seem trivial, but if you plan to commute into your new office daily, it often pays to find the quickest and most cost-effective journeys. If you have existing staff, consider their journeys too. A long, troublesome commute could send your most valued employees packing as soon as you move into your new office.

Budget:

Ah, the elephant in the room. There’s no avoiding the question – how much can you spend on your new office? Choosing a serviced office in Central London certainly provides you with the best options throughout all UK cities, but it’s also the most expensive market. Our rent guide offers a quick overview of average costs in each area of London, based on a per workstation (per person) basis.

Mid-range offices in Greenwich could be as little as £250 per workstation per month, while a top of the range serviced office in Mayfair could set you back over £900 per month.

Of course there’s a massive range of choice in-between those two extremes. There are also a range of ways to negotiate a good deal on your first office (we can help with that). On a practical level, try to walk a fine line between current needs and future growth forecast.

Do you really need a five-person office for a team of two? Sure, you might need it in a year’s time, but the best thing about serviced offices is the flexibility factor. Most serviced office operators have plenty of room for your business to grow. This allows you to stay within your building and move into a bigger space when the time comes.

Where cost is involved, be prepared to tour several properties. In fact, tour as many as it takes. You’d be surprised how much money you can save between two similar properties on the same street. Choosing an interior office over an external suite, even if the view leaves a lot to be desired, could also help with costs.

Image:

Yes, that soaring skyscraper might be your ultimate dream but is now the right time? Consider what your clients would think of a flashy top floor office. Would they question your rates? This is especially true of non-profit organisations. Likewise, a ‘cheap’ office could trigger concerns over your financial stability. For a first serviced office in Central London, try to tread the mid-way line.

Requirements:

Pencil out what your business needs on a daily basis. For instance, a client-facing recruitment agency will need constant access to interview rooms, a reception and waiting area, a reliable phone system, and ideally street-level visibility.

If your first serviced office in Central London is more of a logistics back room or a touchdown point for travelling employees, you can potentially trade outward visibility for a larger office close to mainline stations or outside of central zones.

Other requirements you should consider include IT and telephony, cabling, access to meeting rooms, car parking, storage, and proximity to specific underground lines or mainline stations. Also consider whether or not you will need 24/7 access to your office, and if you’re likely to work late or on weekends. If so, ask about secure entry and security measures.

The small print:

Generally, a serviced office in Central London provides all-inclusive flexible terms, payable in one monthly bill. This often includes everything you need to run your office, including office rental, furniture, basic receptionist services, security, and building maintenance such as rates, cleaning and insurance. However, not every serviced office provider offers the same services. You may need to factor in additional costs for phone line rental, high-level Internet usage, meeting rooms, and contents insurance.

Always compare the costs of your requirements against each serviced office in Central London which is viewed. Remember, the end result often comes down to the office with the best value rather than the lowest price.

Choosing your first office can seem daunting, but it’s also an exciting journey in the development of your business. LondonOffices.com has been helping small businesses find a serviced office in Central London for years. Our service also comes at no cost to you whatsoever.

We’re experts in the London office market and we can help to find the office that meets all of your requirements. We’ll help you through every step of the process. From understanding the small print right through to stepping over the threshold of your brand new serviced office in Central London, we’re there. Why not give us a call? +44 (0) 203 826 8139