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The trend of the serviced office looks set to continue as an ever greater proportion of the commercial property market is taken up by this rental model.
Demonstrating this upwards-only surge in popularity is the serviced office provider Regus. The company has revised its figures for planned new centres in 2014 from 350 to 420–440 worldwide.
It intends to celebrate not only its 25th anniversary next year, but also the opening of its 2,000th centre, an increase of 500 centres since March of 2013.
These days, businesses are in a position where they are constantly balancing cost against convenience. In this age of technology, much time can be consumed in managing all aspects of an office move, from arranging the technological hardware itself to the bombarding of emails from the legal team. Owners and entrepreneurs are increasingly seeing huge benefits in the time-slashing aspect of serviced offices, where savings can be made where it matters, such as in the space acquired and the facilities and staff provided. Shared conference facilities mean that space is used only when required and the provision of a receptionist means one less member of staff, allowing businesses owners to really concentrate on running their business.
One of the reasons the serviced office model is proving so successful is that its very convenience also appeals to multinationals as well as small start-ups. By streamlining their property needs into a serviced office, giant companies too can reduce overheads and save on resources.
Yet Regus is just an example of the serviced office expansion, representing only a proportion of those offices on offer, many of which are run by smaller office management companies or even individual landlords. It is likely, given this broad spectrum of providers, that the serviced office will not only continue to increase in popularity, but may become even more innovative in terms of the nature of space it provides.
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. To search for serviced offices in London, visit MPSO – Morgan Pryce Serviced Offices.