Landlords looking towards serviced office options

Has the perception of serviced offices changed over the last five years? Landlords used to view serviced offices as a last resort option for filling unwanted space. But today, ideas of flexible workspaces are evolving, with developments being carried out for the sole purpose of setting up specialised serviced offices.

Eugene O’Sullivan, Managing Director at tenant acquisition specialists Morgan Pryce, says; “The shift in attitude is partly down to cosmetic reasons. Historically, people’s perceptions of serviced offices were of soulless, blue carpeted and suspended ceiling, cellurised interiors – not very inspiring places to work.

“However, the market has moved on, to boutique providers offering a tailored solution to various industries. Landlords are now using their own spaces, as seen in the Shard, and One Canada Square, to offer serviced offices instead of bringing the floor to the market on a conventional lease. The market is dictating lease terms, and they are moving in favour of flexible agreements.”

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.