Demand for flexible office space and serviced offices Shoreditch has increased massively over the last 12 months in the East London area. Fuelled by start ups and growing creative companies. It is no surprise that Tech City, the area often thought of as having it’s focal point on Old Street has become a major magnet for some of the world’s technology companies and innovators.
Fast growing companies put demands on traditional Landlords that they are simply not happy to accommodate. Most Landlord’s take a long term view of their investments, and will always prefer a tenant for as long as possible if they’ve spent significant money on renovations and refurbishments.
In the old days (#2011) the local Landlords would happily grant leases for 12-24 months, but today demand is such that a three year lease is now almost the market standard at an average rent of c£40.00 per sq ft p.a.
So anyone looking to take an office space on a more flexible basis will find a solution in taking a serviced office. Which is basically described as a self contained office room, where a landlord provides quick and easy access to Internet, phone systems, meeting rooms and reception facilities on a pay as you go basis. Available on flexile commitment terms.
Prices for Serviced offices start from around £300 per desk per month, and can start from as little as 1 month commitment. It would be normal to expect to pay a deposit as well. Although Shoreditch Office Space work with some understanding landlords which do not demand a deposit!
So with all this demand for serviced offices in Shoreditch or Tech City we sometimes struggle finding availability in all the buildings. Sometimes we’ve had a situation when all buildings are at capacity, but then there’s normally an expiry of an office unit just around the corner.
At Shoreditch Office Space, we pride ourselves on our hands on approach to office search, and our ability to scan the market on behalf of our clients.
So if you are considering taking a serviced office in Shoreditch please contact us today on 020 3434 3870 or email the writer [email protected]