How to find a good office space in London
PallMallLondon continues to be Europe's most
popular and sought-after office location, being an innovative hub
of commerce with access to a wealth of labour and business
opportunities. If you are thinking about locating in the capital,
follow our easy-to-follow, step-by-step guide:
Think about the size of office you need. This means
thinking about your future growth forecasts and making a decision
on how long you intend to stay in the property. Assess how
many employees you have and how much desk, meeting room and kitchen
space you will need. You also need to consider storage and parking
space.
Recreational space is important for providing staff
with an opportunity to get away from their desks; think about
including a breakout room for a foosball or pool table, TV space or
a kitchen table for coffee breaks.
Your chosen location should be close to transport links
and accessible for clients and staff. You want to ensure your
office is in an attractive
area, but you are not paying a huge premium for something
unnecessary. A Mayfair location is not worth the premium unless you
are a top fashion house or solicitor, for example. The local area
also needs to be safe from crime and fully-secure when empty.
You also want to make sure that the building is well-managed
and maintained; ask other tenants about the quality of
service. You may also require out-of-hours office access, so check
that this is available.
Proximity to shops and cafes means that your staff can
get out and enjoy themselves on lunch breaks. Proximity to parks
and recreation grounds will also help to alleviate stress and
improve productivity.
Many businesses prefer to rent premises, rather than
buying it outright; this way you have flexibility as you grow.
However, if your business has disposable cash, buying property can
provide a very good investment opportunity, allowing you to
diversify into new areas.
Make sure you read the terms and conditions of your
lease. Be aware of the minimum term of your contract and scrutinise
small print to avoid running into future problems.
Remember - you will have to pay for quality office
space in decent locations; do not sacrifice quality over cost,
your employees will not thank you for it. A good office space is a
long-term investment which will payback eventually.
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Pall Mall Estates have a wide range of low cost commercial properties across the UK.
Take a look at our available spaces here or get in touch with our experienced team here.