What is a Managed Office?

A managed office is a perfect solution for business owners.

What is a managed office? Think of them as a customisable workspace with access to necessary amenities. They’re a flexible workspace solution at a monthly rate, with fewer commitments than a traditional office lease. Conveniently, they also lack the long-term commitment and other negatives of a traditional office lease.

The facilities often include a staffed reception, telephony access, fast internet access, IT support, utilities, security, and communal areas.

With Wrest Park, our offices come fully furnished using our suite of furniture. Our team can help you configure the layout to suit your needs. Thereafter, they’re available to resolve any issues during the tenancy promptly.

How Managed Offices Work

Whether you are a startup founder or business owner, managed office space is ideal for your business needs.

A traditional office space solution demands a significant upfront financial contribution, coupled with a multi-year location commitment. Ignoring the lengthy and inconvenient office search, these requirements price some newer businesses out of the market.

By contrast, a managed office is a flexible workspace solution. The office space is furnished and ready for use, with the flexibility to adapt the layout to suit your working style.

Our team will work with you to arrange the desk and furniture layout that best suits your team’s needs, using our in-house furniture suite.

The process is much quicker than configuring and furnishing a leased office.

There are many services provided as an all-inclusive feature of managed offices. This varies depending on the office provider.

The Wrest Park Difference

At Wrest Park, we include a staffed reception during office hours and access to meeting rooms & conference facilities. The amenities include telephony, ultra-fast broadband, IT support, kitchens & break-out areas, utilities, and office cleaning.

And… if you’re feeling peckish, The Avenue Kitchen, our highly rated independent café, sits on the grounds too.

Benefits of Choosing a Managed Office

Below are some benefits of choosing to rent a managed office:

Cost-effectiveness – Managed offices come with a set monthly cost. This makes them predictable for financial planning.

Flexibility – The initial lease terms are typically a 12-month duration. The office provider may be open to discussing a longer or shorter period. Office sizing, with the ability to scale up or down as needs change, is possible. For example, Wrest Park has 157 offices across 3 business centres, offering considerable flexibility.

Operational Support – Managed facilities eliminate the need for a dedicated office manager. This allows staff to focus on the core business.

Privacy and Customisation – While bespoke fit-outs are not available, internal layout changes and some branding may be possible with agreement. Security is included, protecting intellectual property and promoting privacy.

Ideal Candidates for Managed Offices

The target audience for managed offices is SMEs, startups, and companies requiring modestly sized regional offices. For example, the Wrest Park business centre supports up to 40 workers in an office (the smallest is a two-person private office).

Larger companies may require temporary office space away from their main building. These might be for project work, as an office overflow workspace, or as a transitional space before a complete relocation nearby.

Managed offices do not require an extensive search, contract negotiation, or fit-out period. The workspace is furnished and ready to occupy.

Comparing Managed Offices with Other Office Types

When first considering a managed office and other possibilities, it becomes apparent that there are key differences between managed offices, traditional leases, and coworking spaces.

Which is right for your business? Let’s compare them.

Serviced (Managed) Offices

Also referred to as “managed offices,” these are ready for immediate occupation. Usually, there’s zero flexibility to configure the interior space. The lease is either monthly rolling or between 3 and 12 months.

The workspace provider includes the utilities and building maintenance. Meeting rooms are available. Also, there is a reasonable expectation of privacy.

Traditional Leases

These are long-term commitments, with a minimum of 3 years, and some landlords prefer a 5-year commitment. The upfront costs are substantial.

The time to locate a suitable office in a preferred location is off-putting, along with an extended fit-out period. A minimum of 1 year to find, secure, and fit out a new office is not uncommon.

The tenant is responsible for the provision of utilities, lighting facilities, telephony installation, IT network and configuration, security, and more.

Coworking Spaces

As perhaps the most flexible workspace solution, coworking spaces offer some benefits but notable downsides, too.

Whether a hot desk, renting a day office, or a coworking space for a month, it’s all temporary.

These are communal working areas, which are noisier environments with extra distractions. They lack the exclusivity of a managed office and are not brandable or configurable either.

What to Consider When Choosing a Managed Office

There are specific factors to consider when selecting a managed office. These help to match your business requirements to what’s available.

Location: A prestigious location makes a statement. Prospective clients are more likely to sign the contract when you’re located in professional facilities. Access to a good road network is also vital. For example, Wrest Park has excellent access to both the M1 and A1 Road systems.

Size and Layout: How much office space is required for your team? Are you expanding rapidly and require the ability to grow into multiple offices situated in the same business centre?

Budget and Additional Costs: A clear understanding of the totality of office rental costs for the space required. This includes any upfront expenditures, monthly rental costs, and potential early contractual break clause costs.

Additional Amenities: The amenities provided vary between providers. There may be a café operating on the campus, a gym nearby with discounted memberships, or other facilities, depending on location.

Steps to Renting a Managed Office

The first step is to determine your business requirements for the office space:

• A flexible office rental for a fixed number of employees?
• Salespeople who only visit the office once per week.
• Or remote employees who’ll only visit the office occasionally.

Once the location is decided and you’ve settled on a business office provider, it’s time to make the final selection.

Before you pay for the space, a managed office requires a walkthrough. While a virtual walkthrough is possible when not present in the area, nothing replaces doing it in person.

Before signing the lease, ensure the duration is appropriate for your business. A managed office lease duration is usually three months or longer, unless exceptions are made. If telephony, internet, IT support, or other services are to be provided, these must be specified in the contractual terms. Also, ensure all other requirements, such as access to meeting rooms, break-out rooms, kitchens, and any necessary amenities, are included too.

Ask to see recent testimonials from tenants. Are they happy there? Were there any pitfalls they failed to spot before signing their lease agreement?

FAQs

Is a managed office better than a day office or a hot desk?

For businesses requiring consistency, privacy, and excellent teamwork, a dedicated managed office space is a vast improvement over shared workspace.

Is a managed office a good choice for a startup?

Yes. Startups require a flexible approach to office selection, lease duration, and location. Managed offices provide these benefits without the upfront expense of a traditional leased office.

Do I still require an office manager when renting a managed office?

An office manager role is still useful to help streamline productivity, manage office supplies, and handle other essentials. However, it could be a split or shared role, rather than a dedicated one.

Conclusion

The office experience is enhanced through a managed office. As a professional solution, these offices come with a range of provided services, nearby amenities, and other benefits. Office space is pre-furnished, with the flexibility to arrange layouts using our in-house furniture suite.

Wrest Park has 3 business centres with 157 offices available. Offices range in size to support from 2 to 40 team members. Our reception services and comfortable meeting areas welcome new visitors. Conducting business professionally is easily done at our business centres.
Please get in touch with our customer services team to discuss your needs or to book a tour of the facility.