There is a growing availability of cheap office space. The global financial recession has not resulted in inevitable and subsequent financial gloom for all businesses. In fact, there has been a reported 36.5 percent increase in availability in London which has come over the past year alone, with companies in most cases forced to consolidate their already existing spaces and relocate. This has provided for not only a wider choice of location and customized facility, but also an increase in affordable pricing.
Similar figures from a leading property consultant show that as much as 14 million square meters have been vacated since the same time last year in the English capital. The market is poised to be utilized by aspiring businesses looking for cheap office rental, or established companies hoping to acclimatize to the slow global recovery by cutting costs in the area of office hire.
What is now of most interest to companies is the fact that the largest number on offers are located in the Docklands and the City – both situated in the heart of London’s financial district.
Not only is previously unattainable property now very much tangible for new businesses, but it could also transform their fortunes. One example is the growing policy of many landlords to offer rent-free contracts for at least two to businesses planning to agree a minimum contract of ten years.
This is an extremely attractive offer for places renowned for their sophisticated facilities, and the new strategies being employed by landlords to persuade businesses to move in do not stop there.
Other incentives include an average fee drop of 20 percent over the past two years for top grade locations.
The supply of cheap office space is far outweighing the demand in today’s climate, meaning that the time has quite literally never been better to invest in a prime business location in the centre of London, whether you are looking for cheap office rental or you wish to buy.

It is a popular misconception that renting office space can be expensive. Renting office space can actually save a lot of time and money when researched properly. It is possible to get very good packages that includes things such as high speed broadband, networked PCs, telephones with a personal answering service and even access to boardroom style meeting rooms with tea and coffee on request. These may seem like small, even silly things, but they are all time consuming to arrange, especially the IT side of things.

Having someone else to deal with the nitty gritty setting up of your office frees you up to get on with more important things, and if anything goes wrong, it isn’t your problem, there is someone there to fix it for you.  All the benefits of office space without any of the worry.

Just because you are renting cheap office space doesn’t mean you have to share it with other companies or people. You can have designated offices, either single or a larger open plan office or even a complex of individual offices, whatever suits your needs, so it feels as if you are in your very own office building. You may have to share some communal facilities such as the kitchen or toilets, depending on how much space you are renting, but these areas will always be maintained by the company you are renting your office space from and can be a good way to meet other people that are also renting in the same building as you – especially if you are a lone renter – it can get a bit lonely sitting on your own day in day out!

Cheap office space gives you all the benefits of high quality office space without any of the responsibility. Of course you will have to sign up to a contract, but this will only be for a period of time such as 6 months, whereas if you were to lease an entire building you could be looking at 6 years or more.  Having the day to day running of your office taken care of for you is something that can be invaluable, especially if you are a start-up business where every second is precious. Running around trying to get internet and phones connected is the last thing you want to be doing, and not having access to the internet or phone is not an option. Why not sit back and let someone else provide it all for you so you can get on with the more important things.