As a commercial real estate consultancy, DeVono advises businesses on their workplace solutions – this covers a wide variety of spaces and types of leases and licences. Whilst we understand our industry’s working jargon, we appreciate that many of these terminologies may not be clear to everyone. So, in order to help you better understand all of the different types of offices, leases, licences and workspaces available to your business, we have come up with a simple overview of the main office space types. What are the different types of offices and which of them is suited best for your needs? Read below.
These are intended to be flexible, hassle-free, and cost-effective private workspaces with in-built services for businesses. The ready-to-go office model allows your business to turn up and plug-in with no (or at least limited) start-up costs. The rent, business rates, utilities, furnishings, reception staff, IT support, building maintenance and more are included in one monthly licence fee. Why do serviced offices work this way? To enable you to budget with ease. You can take anything from one to 1,000+ desks, with on-site operations and facilities management teams taking care of the day-to-day – allowing you to focus on your business.
These types of offices offer up a hybrid solution between serviced and traditional office leasing. Managed offices offer a blank canvas, allowing tenants to personalise the space in terms of its interior refurbishment, but delivered either by the building’s landlord, or by a third-party operator.
The office type described here is ideal for businesses that require their own individually designed and branded workspace, but don’t have the resources, time, or budget. They provide a cost-certain, and typically flexible (in lease length) solution for larger teams wishing to occupy an entire floor. The monthly all-inclusive fee, similar to serviced offices, includes all of the property, as well as many of the operational costs – with the initial fit-out expense amortised over the term.
Remainder leases are the residual time remaining on a conventional lease that is no longer required by the incumbent tenant. These types of offices suit opportunistic occupiers who want to benefit from a fully fitted office for a shorter finite period of time. Due to the nature of this solution, the length of the lease and the level of fit-out included will vary. You will hear them spoken about as either an assignment, an underlease or a sublease – the latter two meaning precisely the same thing.
Co-working spaces are typically shared workstations in an open plan ‘office’. Office space types like this focus on community interaction and offer a variety of membership packages, such as flexible and short-term, or a pay-as-you-go model. London is awash with co-working options, with different types of offices for every kind of occupier (women-only, dog-friendly, private member lounges, childcare friendly… you name it).
If a flexible workplace solution sounds like the right option for you, DeVono can help. After understanding how your business works, we will search our different types of office space to build the right flexible workspace package for you. Start your search here.
Traditional Office Leasing
A traditional office lease, also known as ’conventional’ or ’leasehold’, requires signing a lease directly from a landlord. This act then grants you occupation over an office space for an agreed period of time – typically anywhere between three years, to in excess of five, ten or even 15 years. You will have full control over the internal demise, meaning that you can fit out and furnish the office any way you choose, to create a space that represents your brand.
DeVono’s design and build team, Dthree Studio, was created to give clients a best-in-class design and build service for all different types of offices. Find out more here.
Traditional leasehold offices give businesses privacy and branding opportunities that flexible offices typically cannot match. A traditional office lease usually better suits slightly more established businesses that are better able to predict the headcount in their business over a period of years. Traditional leases will often represent a better fit for businesses that combine stable and predictable growth with financial security, as well as a willingness to commit to a particular area for a longer time period. Any business taking a traditional lease will have to be comfortable with the fact that they will have a CAPEX liability at both the beginning and the end of the lease. These will come in the shape of the initial fitout at lease commencement, and the obligation to return it ‘as new’ (known as terminal dilapidations) at the lease expiry.
If a traditional leasehold solution appeals to your business and set-up, allow us to help you find your perfect workspace. Start your search here.
What are the Different Types of Offices for Your Needs?
At DeVono, we ensure that your real estate decisions are aligned with your wider business strategy – and as a result, we explore new and improved ways of delivering workplace solutions that are bespoke.
We specialise in advising occupiers on both conventional and flexible office solutions – giving our clients full visibility on all the options available to them.
Get in touch with the DeVono team today on +44 (0)20 7096 9911 or email us at firstname.lastname@example.org