Serviced office centres
The growth of the serviced offices sector, over the past 10 years, has been exponential. This is due to an increase, within the culture of smaller occupiers, in demand for flexibility in lease agreements.
KWB is well equipped to assist investors and developers looking to capitalise on this growing trend – and the niche that now accounts for a significant share of the country’s entire commercial office market.
Our consultancy provides expert advice on a variety of serviced office industry related work. We can help landlord’s interact with the serviced office world – particularly on how to negotiate with serviced office operators. We can advise landlords on whether a serviced office is right for their property, and how to go about creating their own serviced office centre.
We’ve acquired buildings for clients and then installed serviced office operators, such as UBC UK, as a tenant – with the space let on a traditional lease:
- 1310 Birmingham Business Park
We introduce clients to serviced office operators, with portfolios of high quality offices across the UK, and secure the traditional lease of their space. These operators utilise their own national sales offices, receiving a high number of enquiries per month and dedicated service teams who put in hand the tours and viewings.
We have also assisted a number of our clients with their vacant office buildings by incorporating a serviced office solution within them:
- Forward House, Henley-in-Arden – Forward Group
- Cirencester Office Park, Cirencester – Morcroft Developments
- 65 Church Street, Birmingham city centre – private investor
From our experience, serviced offices can help nurture and maintain a relationship between landlords and smaller occupiers – whose companies are growing. When an occupier outgrows their serviced office there is an opportunity for the landlord to retain them as a tenant – letting larger, non-serviced space, perhaps even within the same building.
Serviced office business rates
Our wealth of experience in ratings and valuations is particularly beneficial in the field of serviced offices. Rates can form a considerable part of a commercial property owner’s overheads, and as serviced offices can alter a property’s rateable value – we can provide advice to serviced office operators on how to mitigate their rates bill, by establishing the true rates liability of a property used for this purpose.