FlexibleHub

What Is Included In Serviced Offices? The Full Breakdown

18 May 2021

Serviced offices aren’t exactly new. It’s something that’s been around since the 1960’s with the opening in OmniOffices. Since then, the industry has grown tremendously and continue to do so following the COVID-19 pandemic that meant the entire world had to re-think the office.

 

To briefly sum up the growth of serviced offices, InstantOffices predicts that there will be a 21% growth in the space throughout 2021. 

 

Whereas serviced offices was previously known primarily for start-ups and freelancers, larger corporates are deciding to use serviced offices going forward.

What is a serviced office?

First, we need to look at the serviced office definition. Truth is, it’s a question which is more difficult to answer than you may think. 

 

Serviced offices are a broad term – it describes office space which is typically private offices in a location with plenty of breakout-spaces where the facilities are shared. 

 

“Serviced offices are typically offered on license rather than by rental agreement. The flexible benefits of this mean clients often only have to commit to a few months and as the document is short, legal costs are also kept low.” – FlexSA, U.K

What is included in serviced offices?

Serviced offices, especially in key markets like London, New York and San Francisco is made out of hundreds of different providers who has varying focus points.

 

Some focus on creating affordable no-frills spaces where others only focus on landmark buildings with top-tier service.

 

In common, all serviced offices are fully managed and typically leaves you with a single monthly license fee to pay with everything else taken care of. This includes the utilities, water, heating, electricity, cleaning of your office, etc.

 

Most often, you will also find that serviced offices has an on-site reception that welcomes all your guests, takes care of the in/out-going mail, etc.

 

Many providers has an incredible amount of amenities in their buildings. These vary a lot from location to location, but here are some of the most common serviced office space amenities:

Serviced Office vs Conventional Office – Which is cheaper?

If you are looking for serviced office space and comparing it with conventional spaces, you have to factor in all the included amenities and facilities. 

 

Conventional offices might look cheaper on the first glance, but the economic benefits of serviced office space is easy to spot when looking at various researches.

 

Below, from New Worker Magazine we have listed out data that compares the annual cost per desk in a serviced office compared with conventional office space. This outlines exactly how serviced offices can, and very often is, the cheapest solution.

City Flexible Workstation Rate Conventional Workstation Rate Difference
Hong Kong
USD 7,607
USD 27,432
72%
London
USD 11,931
USD 22,665
47%
Sydney
USD 6,921
USD 11,997
44%
Singapore
USD 5,873
USD 8,611
32%
New York
USD 13,440
USD 15,931
16%
Munich
USD 8,519
USD 9,784
13%

Benefits of a serviced office space

Many of the benefits of serviced office space has already been mentioned in this article – flexible contracts and access to many incredible amenities.

 

There are many benefits of serviced offices beyond that – employee retention and happiness has been reported to be heavily increased when working out of a serviced office.

 

Additionally, in a survey asking people about their work-life happiness, 62% say that working from coworking spaces improved their standard of work. 

Serviced offices are all-inclusive and offers various other amenities and shared facilities

As we stated, it is difficult to sum up all the things that are included in a serviced office. They all have in common that they are all-inclusive, comes with flexible contracts and typically have plenty of shared facilities.

 

Whether serviced offices are right for you and your business or not is hard to measure. We would always recommend looking at various solutions and speaking to various providers of serviced offices to find something that suits you just right.

 

The benefits of serviced offices are clear – especially looking at data surrounding employee retention and happiness, the networking opportunities that rise from coworking.

 

The economical benefits of serviced offices can also be difficult to measure, but there is a clear trend in most cities where flexible office spaces are cheaper compared to conventional leases.

 

Fact of the matter is that it’s very possible to find serviced office space which would in 9/10 times be cheaper then taking out a conventional lease.

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