Office FAQs

Frequently Asked Questions

London Office FAQs

Serviced vs. Conventional Offices: Which is best ?

Many people ask for the difference between serviced and un-serviced or conventional office space. This article explains... Read more..

What areas of Central London are most popular ?

ALL of central London is popular! But the following areas are all convenient to the attractions and facilities unique to the metropolis:

Bank Bloomsbury Covent Garden Docklands/Canary Wharf Euston Holborn

Kings Cross/St Pancras Knightsbridge Liverpool St/Bishopsgate London Bridge Marylebone Mayfair

Oxford Street (North of) St James's Soho Waterloo Victoria

A full list of London Locations is available HERE.

What is the usual length of a Serviced or Conventional Office Lease ?

For Serviced Offices, flexible leases from a couple of months to a couple of years are available. For conventional office space, most landlords prefer long leases up to 15 years, but they can usually be negotiated down to much shorter terms, if your lease is negotiated for you by a competent Office Agent.

What can I expect to pay for Office Space in London ?

For a Conventional Office Lease, in London or the South-East of England, expect to pay anywhere from £10 to over £100 per sq. ft. For Serviced Offices, again in London and the South-East, you can pay anywhere from between £300 and £1200 per person, per month.

See our Office Space Report, which details lowest and highest office rents, space breakdown by area, and other real-time information

What is the difference between London Offfice Space Finders Ltd, and other agents?

The difference between us and other office agents is that most agents or chartered surveyors represent the landlord and the property vendor, so they will always do their best to secure the highest rent for the landlord. We on the other hand, represent only the tenant, or office occupier, and it is therefore in our interests to secure the lowest rent for the tenant.

Why should I use an Office Agent?

There are many complexities involved in acquiring vacant office space, including lease negotiation, complying with the Landlord & Tenant Act, negotiating legal fees, stamp duty, local authority searches and bank transfer fees. An agent will know all this, and will have all the right contacts already in place. A good Office Agent will also have knowledge of the market, and of many off-market opportunities, corporation and fag-end leases and offices not yet on the market.

FAQs concerning Conventional Office Space

What are the advantages of Conventional Office Space?

Advantages of a Conventional Office Lease include:

• Security of tenure - commercial leases give the tenant the right to remain in a building indefinitely in most circumstances
• Transparent pricing of property and other associated costs
• Space can be personalised to suit a specific company's culture
• Greater variety of buildings in terms of style and locations

What are 'Business Rates' ?

Every property in the UK is subject to rates, a kind of council tax, in order to pay for municipal services such as refuse collection, street lighting and so on. Business rates vary from area to area, and are currently based on the property value.

It often happens that a local council sends a rates demand based on an 'estimate' rather than an actual calculated assessment. It is therefore possible to contest, and reduce the amount due. A good Office Agent will be able to handle all this for you, and often negotiate better terms or even a rebate.

What is 'Lease Assignment' ?

This is the transfer in writing of an interest in a lease. The lessee transfers the entire remainder of the term created by the lease, and the assignee becomes liable to the original lessor for rent. An assignor may or may not retain secondary liability for performance under the lease, depending upon the terms of the lease pertaining to assignment. See also Sublease below.

What are 'Break Options' ?

This refers to negotiated clauses in a contract to make it possible for the occupier to serve notice on a landlord to surrender the lease.

What is a 'Cancellation Clause' ?

A Cancellation Clause is the provision within a lease that confers upon one or both of the parties to the lease the right to terminate the lease upon the occurrence of the condition or contingency set forth in the said clause.

What are 'Common Areas' ?

Common Areas means areas in the premises used by two or more tenants and/or third parties and not under the control of any one tenant.

What is an 'Escalation clause' ?

This refers to a clause in a contract providing for increases or decreases in rent payments in accordance with fluctuations of certain costs or expenses of the landlord.

What is a 'Sublease' ?

This means a lease executed by the lessee to a third person that conveys the same estate for a shorter term, or a portion of the estate for the same or a shorter term. When the entire estate is sublet for the entire remainder of the term, it is called an Assignment.

What are 'Repair Obligations' ?

Leases on commercial premises often include Full Repairing and Insuring terms, which place the onus and cost of all upkeep, decoration and repairs on the tenant. At the end of the lease a final Schedule of Dilapidations. See below.

What is the 'Schedule of Dilapidations' ?

Breaches of covenant to repair a building, as specified in the lease. It contains the alleged breaches of covenant and details of remedial works required together with a claim for damages. This will include not only the cost of remedial works, but also the loss of rent, service charges, rates, professional fees and VAT for the period during which the property cannot be occupied as a result of the disrepair. It often results in disputes and therefore should be carefully negotiated at the outset.

FAQs about Serviced Offices

What is a Serviced Office?

Serviced offices or business centres are a relatively innovative approach to office leasing in the UK. They provide immediately available and fully fitted turnkey offices, often with telephone answering and secretarial services included. They can be ideal if you need to move in within two months or require flexible lease terms.

Who uses a Serviced Office?

Serviced office customers range from large blue chip organisations who need local representation or a short-term office to small start-ups who require space from 1 to 100 people. They are also popular with rapidly-growing enterprises and foreign companies seeking a UK base.

Where are Serviced Offices available?

Serviced Offices are available in London in much the same locations as conventional office space. Please use our Serviced Office Search to find suitable premises in central London, greater London, and the UK generally.

What are the advantages of a Serviced Office?

Advantages of serviced offices include:

• Quick, easy possession, often within 24 hours of viewing
• Short periods of commitment - generally three months
• Expansion sometimes possible within the buildings
• Limited need for rental deposits or bank guarantees
• No capital outlay
• No dilapidations liability at the end of the lease