Welcome to

Our Knowledge Centre combines a unique set of useful tools to assist ALL office movers. Use our moving guides, office space calculator, dynamic rental map and other tools to get an idea of what type of office your company needs. We’ll make sure you get there.
Register for FREE now and get full access.


The Serviced Office Option

26th September 2013

The Serviced Office Option

Serviced Office Group Plc, now the second-largest serviced office provider in the UK after Regus, since its purchase of rival Avanta in July of this year, has reported higher revenues for the first half of this year, although its profits were damaged by opening a new location. 

Serviced Office Group Plc opened its new office in King William Street, which is located in the City, earlier this year, and this has affected its accounts in terms of a £1 million loss. This is not a surprise: when acquiring a new property serviced office companies expect to see a loss as they have many costs to begin with – just as their own tenants do – such as leasing a space, funding a deposit as well as an extensive fit-out.  Another issue is the fact that, even though rent-free periods are offered to its tenants, the serviced office company still has to account for its own rent in its income statements. 

The company also has a property at 7 Hanover Square, which it will have to vacate in July 2014. This will affect its vacancy rates but it will receive a compensation payment of £450,000. 

Serviced Office Group is continuing to focus on Central London, which is the most profitable location within the office market. It is able to focus on Central London by raising funds from selling its other freehold properties. 

As Serviced Office Group grows, it will expect its financial results to be rather volatile, but it will hope to see its new strategy working very well in the long term. 

Jo Robinson of MPSO noted, “Serviced offices are a great quick term fix; they are especially useful for start-up companies as they don’t require any kind of deposit – you pay per desk and have the flexibility to leave if necessary, usually with a one- to three-month notice period. However, they can be an expensive solution, so if you can tie yourself into a longer lease and if your future is relatively stable, then a conventional lease is the way to head.” 

Here at Morgan Pryce we have our own serviced office department whose staff can introduce you to available options in the market through all serviced office companies. 

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. 

Login and get FULL AND FREE ACCESS to our unique Knowledge Centre.

Morgan Pryce treats personal information safely and securely. Read more about how we store and protect information in our ​Privacy Policy​.

Forgot your password?

Please enter the email address used to create your account and follow the instructions to recover your password.

Didn’t receive an email? Check your spam inbox!

Create Your Account

Instructions have been sent to

Well Done!

Please check your inbox for a confirmation email.
You can manage your account details, email alerts and shortlists directly from your account.

or continue browsing


Thank you for confirming your email address! You are now subscribed to our Newsletters.

By continuing your browsing on our site, you agree to the use of cookies to perform visit statistics. Read more about our ​Cookie Consent Policy.