Looking for an office you can make your own, whilst also retaining flexibility? A managed office could be the solution.
So, what exactly is a managed office, and how do you go about finding one? You'll find everything you need to know about managed offices in this simple guide:
Sometimes referred to as a bespoke or customisable office, a managed office is a blank canvas that can be tailored to a company’s requirements – meaning you can specify everything from the design and branding to the facilities and layout, and truly make it your own.
A managed office is an alternative flexible solution to a serviced office – similar in the sense that it's managed by a separate party, paid for in a single monthly fee, and the terms are more flexible than a lease. The key difference is the freedom with which a business can tailor it to their exact specifications, and rather than pay per desk, the business pays for the amount of space they occupy.
Ability to brand
Unlike serviced space, a managed office space can be fully branded and customised to a business’ requirements, in terms of interior design, furnishings, and amenities.
Regular cash flow
Rent is paid in one all-inclusive payment each month – offering businesses greater control of their cash flow.
No upfront costs
Deposits on managed offices are much lower than they are for leased offices – where some landlords request up to a year’s rent in advance – and then you’ve got the cost of the fit out on top of that. A managed arrangement is much less daunting, as the fit-out costs are spread over your tenancy and deposits vary between just two and three months rent.
A managed space belongs to your company and your company alone, which is more desirable for certain types of businesses who are looking for their own space and don't want to share breakout areas and meeting rooms. This is particularly useful if you regularly host clients.
Conventional leases require businesses to pay solicitor fees, agent fees, and stamp duty. As a managed space is controlled directly by the host, these fees don’t apply.
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Cost (in some ways)
Over the course of a few years, a managed office space may end up being more expensive than a lease, as you pay a premium for the flexibility, management of the office, and bespoke nature of the fit out. This should be weighed up with the cashflow benefits mentioned above.
The plug-and-play setup of a serviced office arrangement means that once you’ve chosen your space, you can turn up and start working straight away. A managed office takes a bit more time, as the fit out period needs to be factored in.
Serviced offices are excellent for their facilities and low maintenance, but many businesses get to a stage where it’s more important to have a space that feels like their own, as it’s important for team culture, client relations, and company growth. As such, managed offices are the ideal solution for startups, scaleups, and SMEs who want to be able to brand their office without the hassle and upfront costs.
When it comes to flexibility, managed offices provide a good middle ground between serviced offices options and long-term leases.
Over the long-term, managed offices can cost more than leased offices, but it’s important to remember the added benefits that you gain when choosing an office of this type – namely a bespoke office tailored to your brand, and a stress-free process of obtaining it.
The main financial advantage to a managed office space is that you can maintain a more regular and predictable cash flow, as rent is paid in an all-inclusive monthly fee that incorporates the fit out costs as well – meaning you don’t have the hefty upfront costs typical to leased offices.
You’ll also save organisational time costs with a managed office solution, as all of that hassle is dealt with by the fit out company, leaving you to get on with the things that matter.
Managed offices are still flexible, but due to the bespoke nature of them, they require a little more commitment than serviced offices. The average contract length for a managed office solution is typically between one and three years.
As the experts in all flexible office solutions, Hubble can find the perfect managed office for your business.
Our platform enables you to browse the whole market in real time, and this includes managed options. Another benefit of using Hubble is that you can search and compare between all office types and ensure that you’ve found the best option for your team. Our team of in-house experts are also highly experienced in the commercial property field, and are always on hand to help you from start to finish – whether that’s through devising a strategy bespoke to your needs, or negotiating on your behalf to make sure you get the best deal.
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