What is a serviced office?

May 28th 2024

Serviced offices continue to grow in popularity, with an estimated 3.1 million people worldwide choosing them over traditional office space. The figure is set to increase by an additional five million users by 2030, achieving a global market value of £110 billion, according to projections.

In the UK, the sector has brought £2.6 billion into the economy between 2019 and 2024, a figure set to increase significantly over the next six years, according to a report from Ibis World.

Leading the growth is an increased demand for serviced office space from start-ups and small businesses, with flexibility cited as one of the prime reasons for their choice.

Longer leases held the largest market share in the sector in 2023, according to the Serviced Office Market Report.

Large companies also have a stronger foothold in the serviced office industry than they did five years ago. Previously, they could afford to lease traditional office space in prime locations. Then, the pandemic changed the way everyone worked, with businesses of every size looking to reduce overheads and serviced offices providing the perfect solution.

What is a serviced office?

A serviced office is a leased workspace that businesses and individuals can rent on a flexible rolling contract. Fully furnished, the office includes desks, chairs and storage space, with professional working lounges with free Wi-Fi.

Far more than “just an office”, it provides a first-class business space that any team or individual will want to work in, with all the facilities and amenities you’ll need, including photocopying and printing services.

BE Offices’ all-inclusive packages provide an environment to bring people together and help them thrive.

Rent, rates, utilities and building insurance are included, as is daily day and night-time cleaning. The package also includes 24/7 secure access with CCTV in operation.

With 10 GB connection pipes into the buildings, our internet is the fastest in the industry. We also have a back-up internet line in the unlikely event of an issue with the main system.

A direct dialling-in (DDI) telephone handset with voicemail enables callers to dial through to an extension without having to go through the switchboard.

Stocked kitchens, with free-flowing coffee and top-quality teas, are a welcome area to take a break.

Our sustainable office space operates a zero waste to landfill policy and we have recycling points throughout the building.

Gyms exclusively for use by our clients are available at most centres and we also host workshops, community events and networking sessions.

Benefits of a serviced office

Companies of all sizes can benefit from being based in serviced offices, as they provide true flexibility. Everything you need for the smooth and efficient running of the premises is taken care of, leaving you to focus on the important task of managing your business.

Move into serviced offices immediately, as they are always ready for use, with staff onsite to ensure the workspace consistently meets high standards.

Communal break rooms and meeting rooms add to the amenities, while all the cleaning, maintenance and office security is taken care of as part of the deal.

Short-term leases enable tenants to grow or downsize as required, rather than waiting for a traditional longer lease to expire.

Our industry-leading, all-inclusive package provides access to a thriving business community, networking opportunities, excellent internet connectivity and free calls.

Suitable for every type of business, from large companies with more than 100 employees to one-person start-ups; modern serviced offices are available in many different sizes, so businesses of all kinds can find the ideal set-up to suit their requirements.

An increasing number of tech start-ups are using serviced offices, with recent data suggesting they are fuelling revenue growth. In 2021, investments in UK tech start-ups and scale-ups alone achieved a record high of £29.4 billion and this trend is continuing, increasing the need for serviced offices.

Start-ups are traditionally reluctant to sign up for long-term leases for office space until they test the water, so serviced offices are ideal. People are searching for a collaborative workspace, where they can enjoy their day, as well as working hard.

With serviced offices, in the unusual event of anything going wrong in terms of the building and infrastructure, you won’t have to spend money on repairs, as all this will be taken care of as part of the package.

Importance of location

As the UK’s trade and financial centre, London is attractive to new and existing businesses because of the opportunities it brings. Around 18,000 new tech start-ups alone are being launched in the capital annually, creating a record boom since the Covid pandemic.

Companies who can’t afford to lease a traditional office in prime City of London locations can rent serviced office space, with the added appeal of flexibility, combined with relatively low costs – a convenient alternative for growing companies.

Choosing one of our City of London serviced offices means you’ll have a base in the home of the world’s largest financial and business hub. This is a great platform to connect to the heart of the world’s financial system, establishing trust in your business and attracting bigger clients.