At Cushman & Wakefield, our team are experts in helping companies find the space that is perfect for them. And our downloadable report can help!
There is wide variety of office spaces currently available in Central London, and our team have access to all of it. They are also able to advise what is suitable for you and your business. Let us do the hard work for you – by building a short brief we are able to sift through everything that is not right for you and cut straight to a list of interesting options.
By answering a selection of very short questions we can give you an idea of not only what type of properties are available in different areas of London, but also what the likely costs would be – which you can then download and take away. This report will also include information on the areas of London that you are interested in.
And if you still need more information then our experts are on hand – just call for help on 0203 296 2001.
- ENTER YOUR DETAILSEnter a few quick details about your office move
- GET RATES AND PROPERTIESWe'll crunch the numbers and work out how much office space you need and the costs involved’
- TAKE IT AWAYDownload everything into a PDF for later or to send round to your team
- What is a serviced office?
A serviced office is an office that is available on flexible terms – short, medium or long term, where everything is included in one bill. These spaces are typically taken ready to occupy, and can be moved into almost immediately. They are available from 1 desk up to 1,000+, so can suit any business size.
- What is a traditional lease office?
A traditional lease office is the most common way to rent your office. The landlord agrees a lease (contract) with you the tenant for a period of time, and the tenant pays rent, and a few other costs (see below) for the duration of their lease. The office typically comes with all the basic services you would need – heating, air-con, toilets – and you can then build and change the interior to suit your needs.
- Which is right for me?
There are benefits to both a serviced or traditionally leased office, and we can help you decide which is better for you and your business. This will depend on a number of factors, for example whether you need increased flexibility in your lease, or how quickly you want to move. The questions in our brief generator will help to guide you, or speak to one of our team and they will be able to advise you which option is best for you.
Need help finding the right office?
Call our team on 0203 296 2001
Commercial office jargon, explained
The commercial property industry can sometimes get a little bogged down in its own jargon. To help, here is a quick run down of phrases you should expect to see, and what they mean.
- Business Rates
This is a tax on each leased commercial space which is payable to the local authority (and should not appear on your rent bill). The tax on every building was recently revalued by the government, and we can make sure yours is correct. If we find that you are paying too much, we can also handle your appeal.
- Serviced Office Licence Fee
A serviced office’s basic fee is generally calculated by workstation or desk per month, and includes rent, rates, utilities, service charges, furniture and on-site operational support. Additional fees are paid for other services, like hiring meeting rooms, catering and more cutting-edge IT.
- Fit out
A leased office’s tenant pays for the interior ‘fit out’: the IT infrastructure, interior offices, meeting rooms, kitchens and furnishings (all with the Landlord’s permission). Build times can vary. But our interior designers and project managers can make the process simpler – and more cost effective.
A leased office’s building insurance is arranged by the Landlord and charged back to you, often under the term ‘insurance rent’.
When taking on a leased property, the ‘lease’ is the contract you sign committing your business to the space. It explains what you are obligated to do, e.g. pay the rent; and what the landlord is obligated to do, like keeping the building in good repair.
- Licence or membership
Serviced office contracts are very straightforward (usually no more than 10-pages) and detail what space and services are included in the price.
Leased office tenants usually have to strip out their interiors at the end of a lease, returning it to the Landlord in its original condition. Our experts can take control of this process for you, and make good any repairs (dilapidations).
Leased office rent is mainly costed annually, per square foot. Landlords then divide it by four and ask you to pay quarterly in advance. A long lease might have a five-year rent review to reflect any rise in the market (which our rent review experts can negotiate for you).
The structural elements of leased offices – like the roof, heating and lifts – are usually repaired by the landlord (and reclaimed through the service charge). It is your responsibility to keep the interiors (which you fit out yourself) in good order.
The length of time you are contracted to a space. Leases under 5,000 sq ft (fewer than 50 people) are usually between three and five years. Spaces over 10,000 sq ft (or over 100 people) can be for 10 years, but often include the option to leave (or break) halfway through the term. Serviced offices’ licence and membership terms general last 12 months, sometimes with options to leave early, or extend your stay.
Serviced offices usually come with desks, kitchens and break out areas. And you can book meeting rooms and get IT support through a team that serves the entire building. In theory, everything should be ready for you to get straight to work.
- Signing up
Serviced offices’ licences or membership agreements can be negotiated in less than a week. As soon as you sign up, you can move in.
- Thomson Reuters
“The transaction was complex and time consuming involving a simultaneous lease surrender, sub lease and reversionary lease. Flexibility for us is key and the agreements reached allow us flexibility to meet our needs. In addition, as our EMEA HQ it was vital that important rights including branding rights were successfully secured”Jaime Fuentes, VP Global Real Estate Portfolio