Swing By to Your New Flexible Serviced Project Office! (Wait, my what?)
Submitted by Catrin Jenkins on
If there's one thing that every industry has in common, it's jargon.
From the SEO and CTR of marketing to the Chapter 11 of finances, not to mention the computing vocabulary that's RAMmed full of confusing terminology, it's often difficult to follow - let alone understand.
Commercial property is no different, and this long-standing industry has developed some pretty impressive froth and jargon over the centuries. How does an 'alienation' grab you? Or dilapidation? Not forgetting AGA (not the cooker), GIA and IR leases, of course.
Clear as the mud on a brownfield site, right?
Clients of a Landmark Plc Business Centre usually manage to bypass most of this jargon, because a serviced office contract - the type of agreement offered by yours truly - is much more straightforward. Most of the time you won't even need a legal representative to help you set up a new office with us.
As for serviced offices, it's a whole industry in itself - and yes, it too suffers from the plight of jargon. So to help you understand a little bit more about the offices you're using, here's a quick rundown on how it works:
What is a serviced office?
One of the main features of Landmark Plc's serviced office product is its flexibility. Terms range from 3 months to 3 years, with ready furnished offices and an all-inclusive set-up that includes essentials like rent, rates, cleaning, use of office furniture, 24/7 access, and even our receptionist service - all in a standard monthly bill.
Serviced offices are also known as flexible workspace, and are often used by companies as a project office, a swing office (to house project teams or to set up a new branch), overflow space and emergency offices. Because they're quick and easy to set up, large companies frequently use serviced offices for short amounts of time - which is why they're so popular during an emergency, or to accommodate short-term project workers.
How is serviced different to conventional offices?
Many office buildings in London - the type inhabited by corporate banks and large insurance companies - are often leased on long-term contracts. These generally last for years, even decades, and are arranged on a square footage basis. In contrast a serviced office is usually priced according to the size of the suite, its amenities and the number of people using it.
In a conventional office lease, and unlike a serviced office, there's no receptionist, no furniture, no telecoms - normally it's just a vast blank space. It's usually down to the business to re-design and fill their office from scratch. Rates, cleaning, insurance, dilapidation costs and more are extra, and tend to fall under the responsibility of the business leasing the space. In contrast, under a serviced office contract most building maintenance responsibilities are handled by Landmark Plc.
What about the smiling face on reception?
In our serviced office Business Centres, the lovely person on your reception is hired by Landmark Plc. They will answer your queries, greet guests, handle your mail and even take calls for you as if they were a member of your own team. The difference is, they're employed by us - and the cost is already covered in your monthly invoice.
So we're not just renting an office?
Think of it this way: a 'serviced office' is an office with inclusive services. At Landmark Plc that includes the rent of your office, along with a long list of business support services and inclusive facilities.
Where does the Business Centre fit in?
|A Business Centre is simply the name of the amount of space in a building that is controlled by Landmark Plc. In 110 Bishopsgate for instance, Landmark Plc leases three floors of the building. We then create individual suites and meeting areas out of this space and rent them to our clients. The collective name of our area is known as the Business Centre.|
We hope that's cleared things up a little. If you're still unclear, you can find out more about serviced offices in London here.