10 important things to consider when looking to relocate office space
Relocating office space can be a gruelling task if you’re not fully prepared. There is so much to take into consideration that office managers can quite quickly feel overwhelmed.
We’ve come up with 10 things to think about when looking for a new office space to guide you to a smooth office move. We hope they help!
1. Know your search area
Defining your search area early on will help you in the long run. You may know a particular area or two that you would like to be based in, but once your search begins this can easily change.
We would suggest researching your desired areas and outlining what areas you are willing to consider and also areas you certainly won’t.
It’s not uncommon for location to change more than once during an office move and if you are well prepared you can help things move along quickly.
2. Give yourself plenty of time
Looking for a new office can be stressful at the best of times, so giving yourself ample time is essential.
If you are looking for a serviced office then you typically want to be looking at least a month in advance, however serviced office deals can be done in a day!
Due to the flexible nature of serviced offices, looking anywhere past three months in advance would be too soon. Business centres cannot hold space for that long and availability is constantly changing. Having said that, there is no harm in getting a feel for the market 6 months ahead. (if you are unsure of the differences between serviced and leased office read our guide.)
For long term office space you should aim to begin your search anywhere between 3 to 6 months before you intend to move. The reason for this is that unlike serviced office space, long term lease deals take a lot longer to finalise and require more legal work.
Make sure you always give yourself legroom with your timeline, especially if you have to be out of your current space at a given date.
If you are in control of your timeline you are in control of your search.
3. Think about more than desk space
As well as your desk space what else does your business need? Do you require a meeting room? Breakout areas? A kitchen? An agile or co-working area?
Most offices nowadays are far more than a room full of desks and computers.
Serviced offices generally provide breakout areas and kitchens and many have meeting rooms that are bookable at a discounted price.
If your business needs a lot of breakout space then The Office Group and WeWork may be a good fit. However if you’re company is a phone based call centre you may only need desks and phones.
When renting a leased office you will have to factor in this space when looking at options, as most conventional office spaces are unfitted (although fully fitted space can be found).
4. Know your tech
Depending on what your company does you are going to have different needs when it comes to technology.
Tech business will undoubtable need a stronger internet access than others, whereas state-of-the-art security may be crucial to law firms.
Work out exactly what your company needs before looking at properties as the specification of office buildings will vary.
5. Think about what Style of office best suites your business
This is particularly important when renting in a business centre because each building offers something different.
Corporate offices can be found in the centres of Landmark, LEO and Servcorp. If you are looking for something less traditional and a little bit creative WeWork, The Office Group and a Ventia could be a good choice.
Regus and i2 both offer high quality space that suits a range of industries.
The style of office is less important when taking a lease because you will be the one who is designing the office but the type of building, and the other occupants, can be an important factor to some companies.
6. Have you considered co-working?
One option for smaller companies is rent shared office space or purchase a co-working membership.
Growing in popularity, shared workspaces offer a cheap solution to office space with the added bonus of a lively and collaborative atmosphere.
While not suitable for all industries, these spaces offer a business everything it needs under one roof; desk space, high speed internet, meeting rooms, a kitchen and breakout areas.
Some even offer perks such as free breakfasts, social events, morning yoga and community apps.
Co-working spaces can range from very basic up to the extraordinary and the industry is growing fast. In London alone you can find excellent co-working providers such as Workpad, Huckletree, Work.Life, Co-Work and Impact Hub (amongst many others)
A large majority of well-known serviced office providers allocate sections of their buildings to co-working, making it easy to migrate from shared space to your own private office.
7. Look to the future
Your company may only need a 5 desk office now, but what about 1 year from now? Or even 5? Planning for the future can save you a lot of hassle in the long run.
If you are unsure of your growth, it may be wise to take space in a business centre. Some serviced offices offer contracts from as short as 1 month and offer tenants the chance to grow within the same building.
A good way to accommodate growth when renting longer term lease options is to take more space than you need, and sublet an area out to an external company. Then, when you feel you need more space, you have room to grow into.
Can’t work out how much office space your company needs? See our guide here.
8. Keep one eye on transport
Pretty much everywhere in London is well connected and will be more so in 2018 with the completion of Crossrail.
Just keep in mind that an easily accessible office benefits both your employees and clients, so a well placed office can land you the best talent and more business!
9. Know your budget
Setting a clear budget from day one will keep your search manageable and realistic. Serviced offices in the City range between £400 – £1500 per person per month.
For a long term lease you are looking anywhere between £45 and £65 per square foot.
10. There’s a lot of help out there
One last thing to remember is that you don’t have to go it alone. There’s plenty of ways to get the information and help you need. Navigating London’s office market is a daunting task and one that office experts spend three years training at the Royal Institute of Chartered Surveyors to understand. Appointing an consultant can help save you time and money.
Our FAQ’s may be able to answer some of your questions and you can browse our blog here.
If you are unaware of the differences between serviced and leased offices you can read our guide here. You may also be interested in taking a look at our Office Managers guide to finding an office space.
Contact Us
If you would like some advice on your office move you can reach one of our property consultants on 020 3434 3860. Alternatively you can email us at sales@reesa.com with details of your requirement.