The Right Environment: Don’t you find working from home you just have so many distractions? The kids shouting during school holidays, the phone ringing with old relative looking for a catch-up, the cat meowing at your feet. It’s almost impossible to work at your peak performance, stay focused and to work your way through that ‘to do list’ effectively. Having the right environment will boost productivity: your own desk in a smart place, giving you the time you need to really knuckle down. As an entrepreneur, it’s also important to establish a positive work-life balance, which is why having a separate environment – helps you to draw a line between your professional and personal lives. (See here for 5 of the coolest offices in the world: https://loc8commercial.com/blog/5-coolest-offices-world/ Make your space your own!)

The Right People: They say your network determines your net worth, and who you surround yourself with plays a crucial role. Co-working helps to connect you to like minded people, working alongside others who have the same drive as you. Build valuable working relationships, discuss ideas, analyse processes or results and broaden your own knowledge in areas they specialise in too. Often you’ll be working in a space that has people from different business sectors with different skill sets, which can become a valuable asset for you. Co-working amongst entrepreneurs encourages innovation, sparks a little healthy competition and gives you a real sense of community. It provides excellent networking opportunities throughout the whole building and means that as you grow your business: you don’t need to feel alone.

Flexibility: Flexibility is at the core of everything that co-working is about. You’ll have: – Flexible Contracts: Unlike standard office renting, co-working spaces don’t have the long-term commitment with set durations or terms. Instead, you can hire the space on a month-by-month basis, with the option to extend for up to two years: depending on how it’s going and what you’re looking for. Need to upsize or downsize? No problem! It’s hassle free and incredibly convenient.– Flexible Seating: Members of a co-working space can move around depending on their needs. Got an important pitch to work on? Sit in an isolated desk allowing full focus. Got lots of calls to do and want to work alongside others for motivation? Sit within the central part of your office space. You can even hire conference or meeting rooms within your building, at just a fraction of the price: making your business look more professional.– Flexible Schedule: Now although it’s important to have a work-life balance, often- as we look to grow our business around other commitments, we need to have flexibility within our schedule. The great thing is, co-working facilitates exactly for that, with most spaces allowing 24/7 access. This means you can start as early as you want/ need, finish as late as you want/ need, and come & go as much as you like throughout the day. Often, you’ll find others doing the same too, which is always encouraging.

Cost-Effective and Affordable: We understand budgets can be tight when you’re starting out. You need to invest money in the right areas and manage your ongoing costs on a daily/ monthly basis. Now often: renting out an entire office block for yourself or your small team- it’s actually out of the question. It doesn’t really make sense! Co-working on the other hand, is simply a fraction of the price. which makes it a far more feasible option. As mentioned above: contracts with co-working are flexible and most offices are kitted out with everything you need, from computers to phone lines, plus of course desks and chairs! They also tend to have reduced overheads, because most providers include all the expenses in one fixed monthly fee. This makes it easier to manage in terms of budgets and becomes far more economical.

Everything You Need and More: Co-working is designed for entrepreneurs and small business owners, giving you access to all the essential resources. Wifi is always strong, phone lines are clear, stationery is shared and you’ll even have all the cleaning done for you (because we know you don’t always have time for that!) Goodbye mess, hello efficiency! Many co-working spaces also have an abundance of meeting rooms, security, supportive staff and many even host regular events/ coffee mornings within the building to get you interacting further with like minded people.

Yep, it is pretty neat! To find out more about co-working spaces within your area, give us a shout on 020 3031 8563. We offer free, impartial advice; helping you to find the working environment that’s right for you.

The post Why Co-working is the Perfect Solution for Entrepreneurs appeared first on Loc8 Commercial Blog.

You ready? LET’S GO!

It’s All in The Mindset – To actually become the most productive person around, you must first decide to be so… Get committed to it, and keep it in your mind throughout the day so that if you find yourself wasting time, you can quickly get back on track. Don’t beat yourself up about any of your past habits or failures; and certainly don’t compare yourself to anyone else. Instead focus on what you’re working to achieve now and know that you can do it. See, making the decision and committing to it is half the battle. Once you’ve made up your mind, you will begin to challenge yourself to see just how much you can accomplish in any given day. You’ll start to find things that work for you, changing your habits to optimise productivity and keeping that momentum and motivation going, to see more and more of the results you want in your work and your life.

Get Organised – How can you expect to get everything you want done, if you’re not even clear on what exactly that needs to be? The solution?- Knowing your short-term and long-term goals, and then planning your workload the night before to ensure you’re creating the stepping stones to get you there. Write a list, running through all the things you MUST do and then all the things you SHOULD- which you can only move onto once all the essentials have been ticked off first. This is important, because it’s all about prioritising and not getting distracted. If you find new things you need to do throughout the day- don’t do them immediately (unless that’s required)- instead pop them on the ‘after’ list so you don’t need to worry about forgetting, but can work through it at a better time. This helps to deal with overwhelm and gives you a more strategic approach. You also need to keep looking at your list and thinking more about the outcomes, as oppose to the actual tasks themselves…

– What is my outcome in all of this? What’s really important and taking me closer to the end goal?

– Is everything on my list really needed?

– Are there any things I can do in a different way which would be faster, but still get me to that end goal I need?

– Is there anything on here that can be delegated or outsourced to save time/ increase effectiveness?

Getting lots done, doesn’t always mean you’re getting the most out of your day. In fact, the 80/20 rule says that you often get 80% of your results from 20% of the things you do. So doing more of the 20% is the best way to skyrocket your success. Make sure you’re spending your time on the most important things; taking the time to really analyse what you’re doing and why. When you plan your day the night before, you also wake up ready to hit the ground running knowing exactly what you’re doing and where it’s going to get you.

The Hour Of Power – Now there’s lots of different things you can do to organise your work and plan your day; it’s all about finding what works best for you. We are however aware that procrastination is the silent killer, so to destroy this and really ‘get things done’, get into the routine of using the first hour of your day, as soon as you’re all set up and ready to work- to tackle those things you LEAST want to do, but know are actually the most important. This will set up your day in the right way, giving you a greater sense of achievement and starting how you wish to go on! Try it, it works!

Dealing With Distractions – So we know what we want to achieve, we’re in the right headspace to achieve it, but inevitably things are going to happen throughout the day to try to steer us off course. Phone calls, emails, people coming in and out your office, demands, distractions. It’s normal. To ensure they don’t take us off-path however, we have to stay focused. As mentioned above- use lists to get organised and those new demands that come in throughout the day- write them down for when your main priorities have been completed. If you work in an office, set up a “Do Not Disturb” sign when it’s time to get important work done. If you work from home or outside of an office, set a policy so people know not to call or interrupt you during certain time blocks. Schedule calls so you can plan around them, allocate your time wisely and get that head knuckled down when it needs to be!

Refresh, Recharge – Now no-one can be a complete working MACHINE. And if you are- you’ll start to burn yourself out if you’re not careful and then what good are you?! Short breaks throughout the day are important. It helps to keep concentration high and avoid a brain-block. The best way to take a break is to not stay sat down at your desk but instead get up, get moving and that blood circulating properly again! To make a habit of it- take time at lunch to go somewhere that takes you away from the office environment. Have your food, have a lunchtime stroll and you’ll come back with a clear, focused mind- ready to tackle the rest of the afternoon head on! If you’ve also completed a big job, get up, give yourself a pat on the back, have a quick stroll around, a glass of water, maybe grab a quick piece of fruit then get back, ready to crack on with the next job! It doesn’t need to be long, but this burst of movement and energy will make all the difference. Diet also plays a big part in productivity, staying hydrated, staying healthy. What we put into our bodies greatly affects our focus, energy and well-being throughout the course of the day, so you may find it’s worth looking into this more too

Whatever you do: make sure you have clarity and direction. Time is one of our most valuable things. It’s something we can never get back. Commit today to getting more from your day, and I promise: you will never look back…

It’s also important to have the right working environment to maximise productivity. If you’re looking for a new space- get in touch for free, impartial property searching and advice. See our full services here:

Written by Blue Monkey Social Media

The post How To Increase Productivity: Getting The Most Out Of Your Day appeared first on Loc8 Commercial Blog.

So, what exactly are flexible office spaces?

Essentially they are shared spaces or ‘flexispace’ that has all the basic equipment and infrastructure needed. They have always been popular with start-ups and SME’s due to the flexibility, however, more and more blue-chips are seeing the benefits of flexible spaces. Flexible offices were initially set up so that an employee who usually worked from home or remotely – or has to drive long distances to the company’s main office – can instead work externally for a few hours or days, every week or month. Ideal right?! In fact, Flexible Office space operators have taken the largest amount of sq ft space in London over the last 12-18 months to deal with the demand. It’s going off a storm, and not only improving employee retention within bigger businesses, but proving the ideal and solution for smaller businesses too.

A few of the benefits?…

• Flexible office spaces allow remote working employees to mix up their working week. Instead of being glued to a desk in one place, they have the option to work elsewhere: commuting to the main offices only when necessary. This helps with employee satisfaction, motivation and actually increases efficiency.

• Often flexible working spaces will have different employees from different businesses sharing the same building and in some cases the same office. This can be beneficial, fostering collaborative workplaces and mutually beneficial working relationships with others. No better way to create referrals, right?!

• As mentioned above- flexible office spaces are usually fully equipped premises, giving business owners access to everything they or their employees need, without the logistical and organisational nightmare. It’s fairly hassle free and also provides flexibility in terms of contracts, because unlike standard office renting- flexible spaces don’t have the long-term commitment with set durations or terms. Instead, you can hire the space on a month-by-month basis, with the option to extend for up to two years: depending on how it’s going and what you’re looking for. They can also grow as your company grows, which means they provide peace of mind when you need to downsize. This unique flexibility can allow you to keep control of the costs, which leads us onto the final benefit…

• Another major selling point is the cost-saving. Flexible offices generally have reduced overheads, because most providers include all of the expenses in one fixed monthly fee. Pretty neat, huh? This makes things easier to manage in terms of budgets, proving incredibly effective.

Now it’s important to remember- flexible offices aren’t for everyone. It is still a relatively new concept and success may depend on the nature of the business, the company culture, management set up and of course: the employee themselves. Some employees need greater management, can feel a little disconnected from the business and may struggle to stay disciplined, focused and of course- not get distracted! The way to make it work for big companies? Well-structured arrangements, clearly clarified expectations, strong communication and regular targets/ tasks/ goals to work towards.

If flexible working is part of your company culture or potentially suitable for the stage your business is in, flexible office spaces work hand-in-hand to provide the ideal solution.

Will they take over traditional offices? We don’t think so, not entirely…

But they are becoming evermore popular- and with good reason! A number of traditional landlords are now also including flexible workspace within their offering, as they understand that some clients’ businesses are seasonal and may have larger teams for short periods when working on specific projects.

Got a question regarding work spaces? We’re here 24/7 offering FREE impartial advice.

Reach out… – https://loc8commercial.com/page/details/about-us

The post Are Flexible Offices The Future of Work? appeared first on Loc8 Commercial Blog.

Start-up businesses by new and serial entrepreneurs are one of the most exciting things happening to our business economy. We have seen a huge rise in new companies forming over the past couple of years. Most aim to keep their overheads low and often launch from the comforts of their own home or coffee shops.

Most start-ups are self-funded but a lucky few are heavily backed meaning they can grow from a bedroom business to having a global presence in no time.

Start-ups used to mainly appear in industries like Tech, Media, Product and Fashion but we are seeing a pattern towards Property, Finance, Education and Healthcare.  The rise of Virtual Reality, Big Data, Artificial Intelligence, Wearable tech, Automation and mobile means that these industries are growing quicker than ever before.

It’s easy to be intimidated by bleak statistics where 8/10 start-ups fail in the first 18 months.  This is evident in the lack of start-ups that IPO in 2016 but we expect a huge number of new start-ups to go public. Who could they be?

1.    AppDynamics

2.    Snapchat

3.    HotelTonight

4.    Spotify

5.    Qualtrics

6.    Cloudera

7.    Dropbox

8.    Blue Apron

9.    Stich Fix

10. Airbnb

It’s public knowledge that AppDynamics and Snapchat have already filed to go public this year and we are confident of many more.

These companies fill many different office spaces with some having more than one office. Take a look at these offices we have available for you to rent and experience working in a similar environment to these great start-up –

The Shard, SE1 – https://loc8commercial.com/office/serviced-office-to-let/976/london-bridge-street-london-se1

Shoreditch/Old Street – https://loc8commercial.com/office/serviced-office-to-let/1493/westland-place-london-n1

Kings Cross – https://loc8commercial.com/office/serviced-office-to-let/750/east-side-kings-cross-station-london-n1c

Soho – https://loc8commercial.com/office/serviced-office-to-let/1029/sheraton-street-london-w1f

Chelsea – https://loc8commercial.com/office/serviced-office-to-let/1536/fulham-road-london-sw3

The City – https://loc8commercial.com/office/serviced-office-to-let/1028/devonshire-square-london-ec2m  

Whether you are a start-up, SME or a more established company we are sure to have an office solution to suit you. Please give us a call to discuss on 020 3031 8563 or alternatively search online via www.loc8commercial.com

The post 10 Start-Ups – Watch this space appeared first on Loc8 Commercial Blog.

After noticing a gap in the market for a social media marketing agency for SME’s, I launched The Social Shop late in 2013 after spending 8 years working my way up recruiting for the marketing and advertising agency sector.

Knowing I had 3 month’s wages in the bank to support me whilst I got the company off the ground, my first aim was to make sure I could cover my mortgage. I did what I knew best and used LinkedIn as a new business platform; luckily my first client came in the shape of a well-known restaurant in Camden. 

As one client turned into two, then five and then ten, I had to make a decision on an office. My overheads had to increase and in order to be taken seriously, I needed an office space. I moved into a space that my first client owned which was helpful as I didn’t have a clue where to find available office spaces! This first space in Camden was great as I was working alone. However, as I hired my first employee and my client base was growing, I needed to move somewhere neutral so all of our clients were treated equally. 

I was paying a lot for this space but had nothing else to compare it to, the 3 month notice period also didn’t seem a problem when I signed up. I quickly realised that as my cash-flow was forever up and down, being tied down to a contract with anyone was a commitment and I couldn’t stick to it for too much longer.  Therefore, we went from our own office space to a co-working incubator in Camden by a start-up called ‘Work.Life’. https://work.life/ 

‘Work.life’ was great; We were one of the first businesses to move into their first office. We were suddenly in a creative working environment with others in similar industries which was quite motivating. In addition, this space came with free tea, coffee and biscuits! Those that know me know I like to eat a lot of biscuits and drink a lot of tea, so the saving alone was fantastic!

We had access to free talks, events and were networking with new companies on a daily basis. However, I slowly realised the flexible work space in London was becoming hugely popular and there were other options that were not only more affordable, but more accessible than Camden. We were only there for 6 months but it supported 5 of us including interns. We met lots of SME’s that were in the same situation as us and the flexibility of being able to cancel our contract with 4 weeks’ notice was great.

We were very close to moving into Work.Life’s second office, a new space in London Fields, Hackney, as this was closer to where I lived. However, the desk cost was the same and contract restrictions were the same which wasn’t beneficial.

Whilst I was looking for a new flexible working space, I attended a networking event at a small incubator in Old Street which had a big personality; It was called ‘Launch 22’ based in Corsham Street. http://www.launch22.co.uk/

This place was just as cool, albeit with less capacity and free biscuits. However, it was slightly more affordable and in the heart of Tech City; A location that adds a huge amount of value to our credibility. Launch22 is a registered charity with 2 branches in Liverpool and London. Since joining we have become part of the family, a group of small businesses looking to grow with free mentorship and support from the large network of people associated with the incubator. The best thing about Launch22 for us is that we can cancel our monthly rolling contract anytime with 1 weeks’ notice. Being a small company, things can change for us on a monthly basis so this level of flexibility being in the heart of the city is awesome!

I have seen the pop up of many new but more expensive flexible workspaces around me over the past few years. I now understand there are office brokers like Loc8 Commercial, who are the best people to speak to about finding a suitable office space for your business. Speaking to office brokers reduces the timeframe and personal stress of finding somewhere new. Loc8 provide a free and impartial overview of the market and is very helpful in the way that they can give us new options that we may not have known previously. Add to the fact they gave us an insight into the workspace industry then it’s a win win.

If we were currently looking to move offices we would want to view the following 3 options from looking at Loc8’s website:  

Serviced Office to let: Curtain Road, London

https://loc8commercial.com/office/serviced-office-to-let/1682/curtain-road-london-ec2a

Serviced Office to let: Westland Place, London

https://loc8commercial.com/office/serviced-office-to-let/1493/westland-place-london-n1

Serviced Office to let: White Lion Street,

https://loc8commercial.com/office/serviced-office-to-let/1033/white-lion-street-london-n1

The post Guest Blog: Why we chose to work in a flexible workspace appeared first on Loc8 Commercial Blog.

It’s estimated that the current market is worth £16 Billion, so in another 9 years, could we really be looking at a valuation of £126 Billion?  Some have even said this could be undervalued by 20%. It wouldn’t surprise us!!  It’s been regularly reported that The Flexible Office Industry is the fastest growing within Real Estate and it doesn’t look like slowing any time soon.

This success is one that the British are proud of and property professionals are pleased to read positive UK property sector news in the media. This growth is attracting investors around the world. A recent report between the Economic Research Consultancy Capital Economics and Property Academics, Professor White and Professor Dunse:-

Report highlights:

• UK is the leading global serviced office sector, with the largest and most mature market, accounting for over a third (36%) of the worldwide serviced office footprint
• Three key drivers are fuelling this growth: increasing numbers of growth businesses, expansion of key sectors that use serviced offices the most and the trend towards more flexible working
• Sector’s growing appeal and strong returns have seen its increasing attraction to institutional investors and its emergence as a distinct property asset class
• Yet the serviced office sector still lacks a dedicated market-accepted valuation methodology, which would further spur its growth
• Using a conventional office model puts a £16bn value on the UK serviced office sector, but it is likely undervalued by close to 20% if it were appraised using a dedicated valuation approach
• Modest projections for the key drivers and using a dedicated valuation approach values the UK serviced office market at £62bn by 2025, whilst more optimistic projections set it at £126bn
• This report, for the first time, puts forward a specific valuation model to help the sector fulfil these projections and assist institutions in reaping the full reward of investing in serviced offices 

The service office industry is growing faster than European and American counterparts and has been quoted as being a “Recession busting solution” to the property sector. The rise of flexible or alternative workspaces for more agile businesses have helped the serviced office popularity.

One of the biggest factors of this rise is the ease and convenience for businesses of all sizes. The fact the majority of them are fully furnished and ready to go means less disruption to employees when they move in. Fast broadband, open space, clean toilets, cloud data storage allow networking and faster business growth, collaborations and developments.  Lack of time is something most businesses suffer from in the UK so the immediacy that serviced offices offer are hugely attractive. 

The financial model of cost per desk works well for both people starting up in business and huge blue-chips that offsite departments with multiple temporary workers.  Across the UK you can come across desk costs ranging from £50 per desk per month up to £1400+ per desk per month.  Location and accessibility plays a part in this with London being the most expensive place in the country to rent desks in. However, you can still find good deals and there are many places in London that are affordable and accessible.

It’s reported that the number of flexible workspaces has increased 31% since 2008 with London accounting for 34% of the serviced office footprint.  Demand for area’s in Manchester, Glasgow, Birmingham, Bristol and Edinburgh are growing quickly too

Lee Grodent, MD of Loc8 Commercial says “It’s no surprise to me that the flexible office market is going from strength to strength. We have seen a huge uplift in enquiries over the last 2 years. Companies, whether they be Blue Chip, SME’s or Start-ups from all types of sectors are now looking at serviced offices as a viable alternative to longer term traditional leases. Flexible working is only going to increase in the years to come and I believe the serviced office market is well positioned for even more growth and innovation in the years to come.”

Early adopters of these spaces include companies from Media, Finance, Healthcare, Charity sectors with projected movements from Information, Data, Communications and Professional Services in the next couple of years.  With the ever increasing speed of broadband and technology in the workplace it’s no wonder this sector is going to keep growing from strength to strength.

Social Media Agency Owner Marc Shelkin, says “We have been operating for 3 years and although not a start-up anymore we are still small and nimble enough to rely on flexible office spaces.  We are based in the heart of Old Street which is prime space for Digital Marketing and Technology companies.  We are very lucky to have found a space that is not only affordable but allows us to scale up or down anytime without any hassle.”

If you would like to know more about serviced offices and if they are suitable for you and your business, please give one of our experts a call on 020 3031 8563 or search via our website www.loc8commercial.com

The post Could the Flexible Office sector really be worth up to £126 Billion by 2025? appeared first on Loc8 Commercial Blog.

For most of us the office is not just a great place to work or get motivated. You may have worked in an office that has tired old brown carpets, furniture falling apart and desks with coffee stains on that have probably been there for 10 years.

 
The rise of tech companies has famously tried to buck this trend, showing their employees they have the ‘best’ work culture and environment to maintain their interest for long enough that they won’t have their head turned when headhunted on a daily basis. From start-ups to MNC’s they are furnishing staff with all the free food, pool tables and ‘music jam’ rooms they could possibly want. This certainly isn’t for everyone and if you are wondering what the hell we are talking about. Read on……

If you are passing Hoxton Square in East London make sure you detour to see the TREExOFFICE for yourself. It’s an ‘unsocial-able social-able’ space that shouldn’t work but does. It not only works but people have reportedly been more efficient and driven in this space. Some say it’s down to the lack of disruption although if someone in the room is on the phone it’s fair to say you will feel involved in the call.

This urban office is built on stilts around a tree. The pop-up has eight seats with power and wifi available to rent. You can also book this space for small company meetings or pitch opportunities to impress prospective clients. However, if you need the loo, well that is one mod con you won’t find here. There are of course lots of public places nearby but if it’s raining or snowing you may get wet. “It is made of compressed paper with see-through plastic and translucent polycarbonate,” says architect Kathryn Timmins. This is good for the environment, but also helps workers feel at one with nature.

 
Perched above a converted warehouse called Village Underground in Shoreditch is one of the most unusual and exciting workspaces in London. On a disused underground train. If you are fortunate enough to visit this space you surprisingly won’t feel as trapped as you could in an office.

 
The trains were stripped of their mechanical parts, then carefully lifted on to the building by cranes in 2007. It was part of a project to make affordable working spaces for artists. As we all know Shoreditch is very well known and respected as an area for creative and artistic types and seems to be growing with all sorts of interesting characters.

Since 2007 many have seen the advantages of leaving the coffee shop environments for these special places. Working in an open, creative and unusual location can be inspiring if not scary at times.

 
People that work in these spaces don’t conform to the typical 9-5 jobs. It wouldn’t be crazy to see a member of staff arriving at 10.30am and leaving at 9pm with lots of ‘creative’ breaks throughout the day. It has been suggested these locations are more relaxing environments and allow you to ‘get in the flow’.

 
One question we have, how good is this space in the middle of winter?

 
For those that get the train to work then spend 8+ hours a day on a train for work, we are keen to hear from you and if it’s as cool as it looks?

Multi-National Companies like Google have taken this concept and expanded it on a much larger scale. They also offer soft benefits that will make you want to never go home, these range from free meals, free gym membership, free coffee, ride to work schemes, discounts off Google products oh and being the first in the world to know how they are helping change the world with technology.

Whether your business is looking for something funky and unusual or something a bit more traditional Loc8 can assist in finding you the perfect office for your business. Give us a call to discuss on 020 3031 8563 or alterntiavely get your search started here

The post The UK’s most unusual Workspaces appeared first on Loc8 Commercial Blog.

Located in prime territory just off Oxford Circus in Londons West End, HWH was previously considered a bit of a dud, as far as innovative workspaces go. They have undertaken major renovations with the idea that “it doesn’t have to be all work” and the building now boasts a gym with yoga, pilates and suspension training facilities, as well as a state-of-the-art sound system; showers, a “drying room” and lockers; and secure cycle storage. This was a smart choice; with many Londoners choosing to bike to work to save time and money on the morning commute, and space at a premium, tenants are sure to be appreciative.

Other “play” facilities will include a library, a 20-seater screening room and editing space, a café and a rumoured private apartment for power-naps. The Office Group’s trademark ClubRooms – drop-in offices, meeting rooms and lounges of various sizes – will be featured on the ground floor along with a member’s lounge, while the penthouse is one big, bookable meeting space for that extra impressive touch. Three different sizes of boardroom cover a range of décor styles to match the tone of your meeting. And – naturally – there’s also a Member’s Bar.

The offices cover the rest of the 76,000 sq ft and the serviced office provider has made excellent use of the once-maligned space, with private serviced offices fitting up to 100 people +. Each floor has its own kitchen, dining area and lounge, full IT and telephony are provided, and tenants have the option to rent either furnished or unfurnished spaces.
Although having the facilities all laid on for you is one of the perks of a serviced office, this dedication to wellbeing – both mental and physical – is unusually enthusiastic. The Office Group has taken an uninspiring building in a fantastic location and turned it into what is sure to become one of London’s hottest serviced premises come January 2015. Smart workers will be watching this space.
If you are looking for office space or meeting and conference rooms and want to discuss your options in more detail please don’t hesitate to give us a call on 020 3434 1667 or send us an email to enquiries@loc8commercial.com. We offer Free impartial advice covering the Serviced Office, Managed Office and Co-Working market in London and across the UK.

The post Henry Wood House: a brand new way to work appeared first on Loc8 Commercial Blog.

Growing marketplace
Leased spaces have historically been the preferred option for small and larger businesses. Yet things have gradually begun to change and Serviced Office spaces have come into the frame. The technological changes we’ve been dealing with have morphed into changing the dynamics of the office space industry. Serviced offices are becoming more popular, for several reasons which we will explore.
Flexibility
Leasing your own office traditionally means being forced into a long term contract, often between three to five years. Landlords will often ask for a minimum deposit equivalent to 3 to 6 months rent – plus another 3 to 6 months’ rent in advance. You will then have to fit-out the space, buy furniture, cabling, phones, arrange security etc etc. It all adds up into hefty setup costs, especially for a business that’s constantly growing and changing. Serviced spaces tend to have a minimum contract of just three months, which favours those who might be likely to change location or staff numbers in the near future. Deposits are usually more in the area of 2 months’ rent, with just one more month paid in advance. It gives you, and other business owners, more flexibility and freedom. You can’t be 100% sure how much your business might grow, you may even have a business that fluctuates in numbers, and you might eventually realize you need more/less office space. That’s the primary reason why serviced spaces are advantageous. They are more suited to the dynamic changes businesses experience.
Cost-effective
Furthermore, serviced spaces are cheaper on average over the first three years of occupancy compared to lease spaces, less stressful and easier to manage. After all, the majority of serviced office providers have invested heavily in their fit-out and infrastructure having existing phone facilities, on-site security, and cleaning services provided. They include furnishings and inclusive bills, as well as fully equipped conference rooms you can hire by the hour – meaning you only pay for the space you’re using, if and when you use it, which leaves more of your budget to funnel back into your business. Serviced offices often come with highly trained receptionists and centre staff to handle messages, calls and guests – so you effectively have a full team working for you without the usual expense. With all that thrown in, it’s clear: you’ll be paying less, and getting more.
Other advantages
Besides this, your business could do without the headache of managing a leased office space. Not only will you be saving money, you’ll be saving yourself from extra supervision, so you’ll be able to focus more on what’s important and work on your business without worrying about external trivialities. So many features of renting a leased space have to be continually taken care of, from extra bill expenses to hiring cleaners, setting up an office internet connection, installing a phone system and buying the desk space and seating. All of that is automatically taken care of with serviced office spaces.
Considerations
Timeframes are a key factor with Serviced Offices able to have your business up and running within 24 hours. Sure, you’ll have to share your building with other companies. But that’s not necessarily a bad thing. You’ll each be working within your own headquarters, and you won’t suffer from any disturbances. You might even see it as a positive – with different businesses sharing the facilities, you might just make an excellent business contact while you’re making a coffee. A number of the Serviced office providers run networking events and actively encourage collaboration between tenants via their own intranets.

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Space
How much space does the business need? It’s very important to remember that if you are going to be growing the company in terms of the number of employees over the first few years then you will need to make sure you have either, a) enough space to facilitate your planned growth or b) flexibility within your office agreement to take on more

space as and when it is required. A number of start-ups, SME’s and high growth businesses are taking full advantage of the flexible office market by only taking on additional office space when it is needed. Companies are making sure that the yearly budget is only being spent on office space that is physically being used and in turn allowing them to invest in other parts of the business. As well as having the flexibility within their contract to grow and subtract as required Serviced Offices provide businesses with the infrastructure they need to succeed without the need for a large outlay on capital expenditure. Throw in the networking and collaboration benefits of being in a multi tenanted building and it is no wonder that the flexible office market is growing at such a pace and showing how key they are to the sustainability and growth of start-ups, SME’s and high growth businesses.

Spec
Another thing to consider around the space element is the spec of the building and the office itself. Your office says a lot about your business and having the right kind of space can have a big impact on clients and potential employees who come to see you. If your business is client facing and you need to make an impression then it is likely you will require a higher grade of space than if you were running a back office admin team who aren’t client facing.

Location
In most cities there are certain areas that are known for housing certain types of industries. For example Old Street or ‘Tech City’ as it is now known has a reputation for housing Tech companies just as Canary Wharf is known for housing banking and financial institutions. Research certain areas to see if you should/need to be in a specific area as your business may be able to benefit from the local networking and collaborative opportunities that the areas present.

Accessibility to the office is another important factor to consider, especially if you are looking to grow your headcount or have clients coming to see you. Making sure you are close to public transport will cut down on the journey times of both clients and employees and this will only add value to your business. If you are in an out of town location then you will want to make sure that you have adequate parking facilities on-site or close by for both employees and clients.

If you are looking for office space or want to discuss your options in more detail please don’t hesitate to give us a call or send us an email. We offer Free impartial advice covering the Serviced Office, Managed Office, Co-Working market in London and across the UK.

The post 3 Major Factors To Consider When Searching For Your First Office appeared first on Loc8 Commercial Blog.