Leases sublets & workshop units
The traditional route of renting office space involves taking a lease on a property and organizing the design, build, fit-out and office management yourself. Conventional leases are typically between 5 and 10 years, though shorter terms can be negotiated in some cases. Over the longer term a conventional lease can sometimes be more cost-effective than other office solutions, but you have to spend extra time, money and resources to negotiate terms, fit-out and manage the space.
Conventional office lease
A conventional office lease is formed when a tenant rents directly from a landlord, who agrees rights to their property for a period of time according to certain conditions.
Key features of a conventional office lease:
- Longer term
- Fixed amount of space
- Lease is negotiated between both parties with the use of solicitors
- Ability to design, fit-out and brand your workspace to your exact specifications
- Fit-out, furniture, IT and telco, maintenance and cleaning services are all organised and paid for by the tenant
- Suitable for larger organisations who already have their own furniture, IT & telco systems
If you are able to commit to a longer term, and have the resources and budget to support all associated costs, a conventional lease gives you the freedom to create an individually tailored office to match your brand.
Sublets
A sublease is formed when the tenant grants a secondary lease (with the freeholder’s permission) to a third party – a subtenant. This subtenant might also be permitted to sublet to another, and so on. Chains of tenancy can therefore be complex!
Subleases can be offered either:
- Like an executive suite - i.e. the office space might be furnished, with IT provision, have shared meeting room facilities and be offered for an all-inclusive monthly rent; or
- On a traditional rent, business rates, and service charge basis
Usually all subtenants will be bound to the original terms of the first lease, and these are non-negotiable.
Taking a sublease can be cost effective – even in the short term - but they can be hard to find and involve taking the office and lease ‘as is’. Formalizing the agreement can also take a substantial amount of time due to the complexities involved, and we would always advise that you have a solicitor act on your behalf.
Workshops and industrial units
- Office space
- Manufacturing and distribution
- Laboratories and science parks
- Warehouse storage
- Non-food retailing
These units typically include roller shutter doors, pre-installed goods lifts, loading bays, CCTV, parking and self-contained bathroom and kitchenette facilities.
In many cases they have their own integrated offices, providing businesses with a quick and flexible part-workshop/part-office solution.
Workshops and industrial units are rented on similar terms to a conventional office lease, however more flexible terms are available. It is also possible to rent multiple units, giving your company the ability to easily upsize or downsize as required.
We would always advise that if you decide to take a lease, sublet, or workshop unit you always have a shortlist of executive suites to fall back on should anything go wrong during the final stages – as there are so many points to negotiate.
How can Instant Offices help you?
Every month Instant Offices helps over 5,000 businesses across the globe find their ideal workspace. As specialists in flexible offices, we know the market, and how to navigate its range of options and providers to find your business the perfect space – and quickly.
Whether you need guiding through the process step-by-step, or you’re a property expert who needs us to grasp complex requirements and deliver innovative solutions, our specialists go further to help. We only recruit the very best people – we know the better we are, the better your new office will be.
How can Instant Offices help you?
- Serviced Offices.
- Co-working Spaces.
- Managed Offices.
- Virtual Offices.
- Leases, sublets and workshop units.
- Laboratory Spaces.
Reports
As the world’s largest flexible office provider across the globe we have a wealth of market data at our fingertips – gained from handling over 70,000 enquiries every year. Our reports typically consider changes in the flexible office industry, the number of available business centres, business centre spread in each market, average workstation rates and additional service costs. Can we help you? If you’re looking to enter new markets or open strategic global locations, we can help you get to grips with the local markets by producing reports like these for your business. For more information please contact us.
Global Cities 2019
APAC Amenities Review 2019
Flexible Workspace Trends 2019
APAC Flex Market 2018
US Market Summary 2018
The Marketplace for Flexible Work 2018
Global Cities Review 2017
US Flexible Workspace Review 2016
Amercias Executive Suite Report 2014
EMEA Executive Suite Market Report 2014
Asia-Pacific Executive Suite Report 2014
Emerging Markets Executive Suite Review 2013
