Important Criteria for Selecting an Office Space
Deciding it’s time to move office can be exciting. It’s the start of a new chapter – a chance to develop your brand, meet new contacts and find the office that works for you and your employees.
Having said that, the process of choosing a new office can definitely be overwhelming! With that in mind, we’ve put together some office space selection criteria so that you can make an educated decision.
Type and length of lease
Office space contracts can vary quite significantly so this is something to keep in mind when you are selecting a new workplace. Are you looking for something shorter and more flexible? Or, are you at a stage in your business where you can commit to something a little longer that is cheaper overall?
Generally speaking, smaller businesses and startups are likely to want a short lease as your situation can change quite rapidly and an office may not suit your needs for as long as two or three years. Many flexible office spaces offer rolling contracts, meaning you don’t have to sign a lease for a long period of time.
Another thing to account for is the size of the building. This will involve you having an understanding of your current number of employees and how many you are likely to acquire in the coming year.
You will also need to get an idea of how many rooms you need, including offices, meeting rooms, breakout areas and more.
To get an idea of the office size you should be looking for, you can use our office space calculator.
While we’re talking about how many rooms you need, you should absolutely make sure to get an in-depth understanding of the amenities that are currently in the office space. There may be more amenities in serviced offices but it will always vary between buildings so make sure you know what you need and whether the office space meets your requirement.
As well as existing amenities, you might want to ask whether there is any scope to add amenities to the office space. This will likely be more relevant if you are committing to a traditional long-term lease in a private office space.
Location, location, location – it really is important! Your employees are likely to be commuting from a number of different areas, so it’s good to try and find a location that suits as many people as possible.
One thing that is important to take into account is public transport links, especially in major cities, as this is how most employees will be getting to work.
If you’re based in London, central London tends to be an easier middle point for everyone to get to. However, prices will increase in the centre so it’s all about striking a balance.
For more information about the current rent prices, you can check out our market rent guide.
Another factor to consider when it comes to location is how it will impact your company image. For example, tech startups will likely want to situate themselves in East London, close to Tech City and the Silicon Roundabout.
A final thing to think about when it comes to location is your proximity to existing and potential clients. You want to choose an office space which makes meetings and finding new leads as easy as possible.
Last but not least, it’s essential to work out the office running costs for each space you consider and how these match with your overall budget. You need to determine whether you can afford to run the office for the duration of the lease.
Costs will vary between serviced offices and traditional leases as more will be included in the rent price of a serviced office, which is likely to make the rent higher. However, there will be more additional costs for a traditional lease, and what exactly these are will be decided by the landlord.
We hope this guide to office space selection criteria has been useful in helping you start your office choosing journey.