By Maximilian Clarke
Demand for serviced offices has increased by 38 percent across the UK since January, reflecting a change in the way companies are choosing to rent commercial property in the current economic climate, a property consultancy observes.
The statistics, which are based on the number of companies Search Office Space (SOS) has matched with serviced offices since November 2010, follow a similar trend experienced by SOS in the US market where demand for SOS’s services increased by 71 percent since January 2011.
Commenting on the figures, Managing Director of SOS, Richard Smith, says: “As companies attempt to navigate the current challenging economic climate, and consequent impact on staffing levels, they need greater flexibility than ever in their work space. A serviced office means that they can change the size of their office on very short notice to accommodate extra staff or to avoid paying for empty desks when an employee leaves.
‘Companies, in particular start-ups, are also attracted to serviced offices and shared office space in business centres because they don’t require costly up front capital expenditure unlike a traditional long lease. They also have the advantage of providing ready to go facilities at lower prices and without the initial costs often associated with new ventures. This means any spare capital can be invested in the business and its people. Not only is this cost effective, it is also convenient and crucially, it helps to minimise risk, resulting in a more stable work environment.’
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