Why corporates are ditching traditional office space

Why corporates are ditching traditional office space

Finance, insurance and other large corporates are increasingly using serviced offices to open new markets and provide office space closer to where their employees live.

Coworking redefined

With the rapid growth in the coworking industry, the largest sector to make the switch to coworking is the Finance and Insurance industry. Corporates are ditching the traditional long-term leases of large office space and are enjoying the flexibility of coworking.

According to the CBRE Pacific Coworking Survey, the Finance and Insurance Sector are the largest occupiers of flexible office space accounting for 26% of survey participants.

Deutsche Bank, HSBC, and Bank of America are among some of the big players taking advantage of revolution in the way we work and joining tech players like Google, Amazon and Uber already using Coworking Spaces.

We understand that financial, legal and professional services often need their own private offices where confidential calls can be taken and client anonymity maintained and Serviced Offices in Coworking Spaces offer just that.

Perhaps for industries like these, the term "Coworking" should be refined to refer to:

Serviced Offices that offer privacy, ease of use, flexibility as well as cost effectiveness.

According to the GCUC global coworking report, there are currently 3.1 million coworkers in the world and the number is forecasted to nearly double by 2022. The largest growth is expected in the Asia-Pacific region. This astounding figure makes sense following the entrance of the likes of WeWork and the hundreds of other coworking operators both within the UK and across the globe. By getting a multi-billion dollar valuation, WeWork not only contributed to the disruption of the coworking industry, but raised a lot of awareness of this mode of renting and working.

Why do businesses rent flexibly?

Photo: Unsplash Image

Compared to owning, leasing and subleasing of commercial office space, renting flexibly offers a number of advantages, typically at the expense of a higher monthly rent:

  • Agile teams need the ability to scale up or down your team size without significant penalties or obligations. For growing businesses this is a big deal and allows them to keep their options open and scale relative to business demand.

  • Lean teams focus on getting down to business not managing infrastructure. A team without staff to manage facilities means the fit out, maintenance, technology and infrastructure as well as cleaning are all taken care of. Bliss.

  • Lower up front capital commitment - often with just two months prepaid. Much less than guarantees and three month bonds common with leases.

  • Licence agreements not leases. Typically less demanding, lower cost and lighter weight than a lease agreement, most operators have their own flavour of agreement. No two agreements or situations are the same, so it's always worth getting advice.

So, whether you're from the legal industry or a digital agency, coworking makes it easy to find office space that suits your businesses needs.

The Best Corporate Offices Available Now

London Office Space

Rubberdesk covers over 600 sqm of Flexible Office Space. With a median monthly office rate at £367.00, and a median monthly desk rate of £275.00. Here's a look at some of the best corporate offices availabel now.

3 Chandos Street London, W1G

Up to 10 people
Private Offices

27 Bush Lane London, EC4R

Up to 8 people
Private Offices

Level 1, Level 1, Devonshire House, One Mayfair Place London, W1J

Up to 10 people
Private Offices

33 Saint James's Square London, SW1Y

Up to 14 people
Private Offices

40 Bowling Green Lane London, EC1R

Up to 15 people
Private Offices

1 King Street London, EC2V

Up to 54 people
Private Offices

Manchester Office Space

Manchester has over 200 corporate offices available! Located in and around the CBD, there are plenty of options out there to suit you and your businesses needs.

No.2 Circle Square Circle Square Oxford Road Manchester, M15

Up to 40 people
Private Offices

Arkwright House Parsonage Gardens Manchester, M3

Up to 18 people
Private Offices

3 Hardman Street Manchester, M3

Up to 18 people
Private Offices

1 St Peter's Square Manchester, M2

Up to 6 people
Private Offices

29 John Dalton Street Manchester, M2

Up to 157 people
Private Offices

Chester Road Manchester, M32

Up to 6 people
Private Offices

Leeds Office Space

With around 100 offices available, Brisbane has office space perfect for corporates! With affordable prices, convenient locations, and flexible lease agreements there's guaranteed to be an office for you!

Greek Street Leeds, LS1

Up to 11 people
Private Offices

3rd Floor, 27 King Street Leeds, LS1

Up to 16 people
Private Offices

Greek Street Leeds, LS1

Up to 10 people
Private Offices
Up to 10 people
Private Offices

114 Wellington Street Leeds, LS1

Up to 16 people
Private Offices

Greek Street Leeds, LS1

Up to 7 people
Private Offices

Glasgow Office Space

Up to 6 people
Private Offices
Up to 6 people
Private Offices

220 Saint Vincent Street Glasgow, G2

Up to 6 people
Private Offices

77 Renfrew Street Glasgow, G2

Up to 6 people
Private Offices

77 Renfrew Street Glasgow, G2

Up to 37 people
Private Offices
Up to 9 people
Private Offices

Unsure of which coworking provider to go with?

Here at Rubberdesk, we have some of the best Coworking and Managed Office Operators in the world who list their space. We've been busy collecting all the details about each of them in one place - so you don't have to do any leg work.

UK Serviced Offices

Local market experts with you every step of the way.

As specialist brokers in the flexible office market, Rubberdesk is across all the options, offers and availability. We have real time pricing for thousands of spaces listed by hundreds of providers to help find your next office.

It's EASY, FAST and FREE to use Rubberdesk.

Start by telling us what you need.

We'll give you a call back with a bespoke shortlist of options to discuss.

Get Started

Or give the experts a call +44 (0)800 699 0655

Frequently Asked Questions

What does it cost to rent a desk in London?

The median price for a desk in a private office in London is £654.50 or £352.00 for a shared desk.

Who rents office space on Rubberdesk?

Freelancers, Small Businesses and Start ups are just some of those renting office space on Rubberdesk, but we also have corporates with remote offices who need a permanent office for their staff. We have Lawyers, Digital Media and Marketing companies, IT and Technology firms, Marketing and Publishing companies, to name but a few, all renting office space through Rubberdesk. They're a nice bunch, you'd like them.

How does the Rubberdesk Platform work?

Rubberdesk is a peer to peer marketplace for office space. Owners (Hosts) list office space for rent on Rubberdesk themselves for potential Tenants (Guests) to view and enquire. Through the Rubberdesk platform, Guests enquire and request viewings of office spaces. This allows Hosts and Guests to meet and ensure the space and people are the right fit. When both parties are happy to proceed, there are simple licence agreements to review and sign

Just tell us what you need and we will help!
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