Choosing the right office space is a business critical decision. Not only does your office set the tone for how your employees approach their work, it can also be a determining factor when it comes to attracting and retaining the best talent.

If you’re currently hunting for new office space, here’s how you can feel confident you’re making the right decision for your business.

Important considerations for your office space

Before you start thinking about the specifics of what you require from your office space, you must also be aware of the important factors that could be deal-breakers.

For most businesses, these factors will include the following:

  • Budget
  • Location
  • Headcount
  • Working style

What are the different types of office space?

There are three distinct types of office space you will most commonly view when scouting for a new location: serviced, managed, and leased.

Serviced office space

This is an office that’s managed by a provider and should be fully equipped with everything you need to work productively.

The provider is your landlord as you will sign a contract to lease a chunk of their space and depend on them to provide everything you need. They’ll be responsible for dealing with any maintenance issues and handling utilities such as internet access. Like landlords, not all providers and spaces are the same, so you will need to find one that matches the needs of your company.

Benefits of serviced office spaces:

  • Shorter contract durations.
  • Lower costs as many spaces are pay-as-you-go and you only pay for what you use.
  • Added amenities and services depending on the building itself – for example, meeting rooms, break out spaces, cafes, and dining options.
  • Potential to collaborate with other businesses in the same building.

Managed office space

Managed office spaces are similar to serviced offices but give you more flexibility to stamp your own mark on the space. Where a serviced office will come equipped with furniture and décor, a managed space is a blank canvas. It will usually be an empty room, meaning you’ll then bring in your own furniture, decide on décor and plan the layout. You’ll often be responsible for sourcing your own utilities and organising cleaning crews.

Benefits of managed office space:

  • You can create a bespoke space which is aligned with the unique needs of your business.
  • You play a role in the design of your office, so you can create an environment that is to your taste.
  • You don’t have to rely on someone else’s infrastructure.
Leased office space

The final option, leased office space, is probably the most similar to what many people view as the ‘traditional’ office option. This is when you sign a contract to lease an office building for an agreed period of time, for example 10 years or 25 years.

During this time, you’re responsible for the upkeep and maintenance of the space.

Benefits of a leased office space include:

  • You have complete control over what your office looks like.
  • The longer-term nature of the contract means you can plan and budget more easily.
  • You can stamp your brand’s identity all over the office space.

Need more help with creating your dream office? Get in touch with us today.