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Why serviced offices are an alternative to leasing commercial premises

We look at the alternatives to renting premises through a traditional lease.

There are alternatives to renting premises through a traditional lease.

Serviced offices

These are becoming common as more investors plough into this growing sector. This involves a contract rather than a lease, running for terms ranging from a few hours to several months. The charges may appear high compared with normal rents but include all services such as heating, lighting, security and business rates. Offices sometimes come complete with furniture and carpets.

Serviced industry

This sector is growing as landlords find it more difficult to attract tenants to older industrial space. The same terms apply as serviced offices, with an all-in monthly charge for rent and services.

Further help

Royal Institution of Chartered Surveyors (RICS):

Information Centre: 020 7334 3838/3842/3819

Rent Review and Lease Renewal Helpline: 020 7334 3806

Dispute Resolution Service: Surveyor Court, Westwood Way, Coventry, CV4 8JE Tel: 020 7222 7000 or 01203 694757. Fax: 020 7334 3802

Commercial Property Leases in England & Wales: Code of Practice. Available from the RICS Bookshop, Tel: 020 7222 7000 or by mail order from: RICS Books, Mail Order Department, Surveyor Court, Westwood Way, Coventry, CV4 8

www.rics.org.uk

Incorporated Society of Valuers and Auctioneers (ISVA):

Tel: 020 7235 2282

www.isva.co.uk

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