The terminology surrounding the commercial property market can often be ambiguous and confusing. From coworking to shared offices, agreements to terms, leases and contracts, it can be difficult to figure out what’s what. For this reason we’re putting together a series of infographics to help straighten things out.
In our first, we establish the difference between a serviced office and a traditional lease. This might be of particular interest to those who are coming to the end of a lease and considering switching to a serviced office in the light of the new business rates that were announced earlier this month.
As you’ll see, serviced offices are the go to option for businesses who want flexibility, value for money and convenience from their workspace. As we enter a period of economic uncertainty, the serviced office market is gaining traction and expanding at an exciting rate: new and innovative locations are popping up all over the country as providers expand their portfolios.
It’s also useful to note that serviced offices encompass private, shared and coworking spaces.
Up next: Shared Offices / Coworking Spaces