Luxurious Office Space Versus Cheap Office Space in London

View PDF | Print View
by: clickthrough
Total views: 34
Word Count: 641
Date: Sat, 23 Jul 2011 Time: 12:38 PM
0 comments

Office space can be cheap if businesses take in mind the best deals. Luxury office space depends on the willingness of the business to spend a lot on their office space. Cheap office space is on the rise and may be sought by businesses who want low costs or simply may not need a large office. We live in an economic climate where, in certain areas, office space is being offered at a lower rate, mainly because businesses are wary of costs and savings. Nonetheless, there is a difference. The wealthier companies, in the key city areas, are more likely to go for a luxurious office space whilst the smaller businesses will look to cut costs in several different ways. London is the area at the centre point of UK business and the top office space location in Europe for 2011. London offers both luxury and cheap office space.

Cheaper office space is increasing and businesses can take advantage of the best deals available. These businesses may go through companies that specialise in renting offices. The property specialists may find better deals for the company because of their real estate experience, and be in a position to negotiate a better price with the landlord. Businesses may also choose to save money through sharing office space with other companies.

Cheap office space can also include working from home. It certainly saves on costs and time. However, arguably other forms of office space are more professional and business like. There are distractions to be had working from home and meeting clients may not always give the best impression if you are meeting them at your own house rather than at a company office. That is why in this circumstance a virtual office may be viable as it could simply serve as a company meeting place, but not with all the complications an office at home may provide.

It is the virtual office option that could increase prestige whilst not actually being continually leased. It is cheap and could be a place where a business may simply receive correspondence or answer calls from. It can portray the business as big and successful because they use an office premises in some capacity.

Luxury office space is at the most expensive end of the scale and is mainly used by wealthier businesses in wealthier areas. The bigger the company the more people they employ and therefore the more office space they will need. London has recently topped a survey as the most popular city for commercial property in Europe. Traditional wealthy areas such as Kensington and Mayfair are more likely to offer the more luxury office space. However, in recent years, and in some cases as an effect of the recession, Mayfair office space has become cheaper. Nonetheless, London office space in certain areas is some of the most in demand and expensive, but this is good for businesses that can afford it.

Therefore office space which businesses rent depends on their own individual circumstances. If you are a well known reputable company, with a well known entrepreneur as the owner, then you are more likely going to acquire office space in a wealthy area and that will accommodate the vast amount of workers which the business employs. With cheaper office space, businesses who may want to watch costs or who feel a large office area is not needed, can be satisfied. That is because they may want to share offices and keep costs down or use the office simply for business meetings or answering to customers as a virtual office tends to do. Therefore it depends on affordability, general comfort and business size as to whether a business chooses cheap office space or more luxurious office space.

About the Author

Shivani Gurtu-Louth - Operations Manager of Devono Property Limited. Devono are the only office rental London agents to exclusively represent tenants looking to rent office London. We can also help you find serviced offices in London. Our aim is to secure the best commercial property at the best price.