Serviced vs. Leasehold

Which Option is Right For Your Company?

At King’s Cross Office Space, we offer advice and guidance to our clients every day to help them come to the best decision on their next work space. We are an independent and impartial company that prides itself on giving our clients the information they need to come to an informed decision.

Serviced offices have become increasingly popular over the last few years. These offices have been described as the ‘hotels of the office world’. Everything you may require in order to work is provided and you can enjoy flexibility on the length of our term. Facilities can be expanded and reduced quickly and payment is usually made monthly, with everything you use being included in the price.

Although this might sound fantastic on paper, there are reasons why not every company uses serviced offices.

Office leases are a longer commitment than serviced offices and require a company to be stable and secure. Landlords need to feel comfortable that you will be able to honour the lease and many ask to see your accounts of for large deposit amounts.

Nonetheless, leases do have various advantages over serviced offices.

For instance, you can do whatever you like with the work space you are given with a lease (subject to terms). You can add your own branding, plan the space and do what you like with its design, up to a point. You won’t be able to add overt branding to your space in a serviced offices and other residents may be unhappy if you put too much of your own stamp on the environment.

Leases are associated with company progression too, whereas shared spaces, rooms and areas can be more associated with businesses that are just starting out. A lease gives a company the privacy that it needs and means that meeting rooms and break out areas don’t need to be shared with other businesses.

The final advantage of a lease is that it offers security to tenants and landlords. Most leases last for longer than three years, giving stability to companies and allowing them to make sensible and informed decisions about their next steps.

Get in touch today via our Contact page to discuss your work space needs and requirements, or to find out how King’s Cross Office Space can assist you with your search.