A serviced office is an office that’s equipped and managed by a third-party provider, rather than the occupiers themselves. Typically, fully furnished and equipped with the basic features businesses need, like internet connectivity, desks and chairs; it makes them a popular option for ‘plug-and-play’ working, freeing occupiers from the responsibility of traditionally leased office tenancy.
In fact, the global serviced office market has been growing year after year, reaching a new high of $33 billion in total value last year. And with an annual growth of 20%, the market doesn’t seem likely to go anywhere anytime soon. This is due to both the benefits they offer over their alternatives, and the unique environment businesses find themselves in.
This surge in popularity over recent years has proven that a serviced office can be the perfect solution for businesses seeking a more flexible way of working with less commitment. They’re an ideal middle-ground between a conventional long-term private lease and a completely flexible coworking arrangement. Customers get the benefit of their own private office space, and near-complete control over how it looks, feels, and works; whilst removing any of the stress of fitting-out, furnishing and maintaining their space – which is all handled for them by Bath Office Co.
It is this, which makes an office ‘serviced’. Bath Office Co transforms an ‘office’ from being a simple product to being a service. By consolidating all the costs typically involved in having an office, including rent, utilities, business rates, internet, furniture, maintenance, insurance, and cleaning, into one simple price; it caters to those businesses looking to manage costs effectively. The transparency of an all-inclusive pricing model ensures there are no unexpected expenses involved with fitting-out, furnishings or maintaining the space.
This proposition also allows for more control over how long tenants stay there than with traditional leases. Leasing a serviced office is an entirely sperate offering to leasing a traditional private office space. Rather than being locked into a long-term contract lease, customers are able to commit for a much shorter term (from as short as one month), and then operate on rolling basis. This level of flexibility is essential for agility, which is becoming increasingly important in our tumultuous economic conditions.
Similarly, a challenging and uncertain economic landscape necessitates some risk management from businesses looking to survive unscathed, and Bath Office Co offers just that. Customers have the option to increase or decrease the amount of space they have on request.
How does a serviced office differ to coworking spaces?
Both serviced offices and co-working spaces belong to a new wave of the workplace. While they both offer an alternative to the traditional private leases that used to dominate the market, they have some key differences separating them.
Coworking spaces typically revolve around a model of communal hot desks and reservable dedicated desks. Instead of paying for a private office space for your team, you instead book as many desks as you need. While this is a highly flexible option, that gives you complete control over how much you pay for your workspace, it does come with the downside of having no place to call your own, or ‘place to call work’, along with limited privacy.
What does a serviced office with Bath Office Co. include?
- Furniture (desks and chairs)
- Access to a shared kitchen
- Access to meeting or conference rooms
- Breakout spaces
- Internet and telecoms
- Events and networking
- Regular office cleaning
- Office maintenance
- Rent, service charge, utilities, cleaning, general maintenance
- Free tea and coffee
- Dog friendly
- Bicycle storage
- Showers
- Local business partnerships
Looking for a serviced office? Send us an email at hello@bathoffice.co.uk or call us on 01225 632 777
