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Manchester Growing Start Up

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Manchester Growing Start Up

Long Term Lease vs Serviced Offices

Start Up Organisation

How do you really need to work? When starting a new venture, there is a great temptation to jump straight in and acquire the space you anticipate requiring. However, it is no longer necessary to over commit on office space in the early stages of a start-up organisation.

UK Multi Media Company

Transition from 15 leased locations to 3 regional offices and on demand space. This household name within the UK market had grown significantly over the previous 5 years through acquisitions and organically.

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Manchester Growing Start Up

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Long Term Lease vs Serviced Offices

A start up marketing agency reaching the end of it's first year trading is now looking to acquire premises in central Manchester. Image is of the upmost importance as both clients and focus group members will regularly visit the premises.

Whilst the last 12 months have exceeded projected growth, there is no guarantee of continued growth in the current climate. However, to secure continued success they now need to acquire accommodation within a professional business environment.

There is no guarantee of continued growth
in the current economic climate

The immediate need is for 5 desks and a dedicated meeting room within central Manchester. Following an extensive search of the market, two options have been identified.

Long Term Lease

  • 700 sq ft of grade A space within a multi tenanted building
  • Space for 5 desks and a dedicated meeting room which will need constructing
  • Minimum term 5 years
  • Annual cost of rent and services is £46,200
  • Additional costs for furniture and constructing meeting room £10,500
  • Total first year cost £56,700

Serviced Office

  • Grade A space within a professional unbranded business centre
  • Dedicated office to accommodate 5 desks
  • Dedicated meeting room
  • 12 month term with flexibility to extend
  • Fit out and furniture costs £0
  • Annual all-inclusive rent £37,800

The obvious choice in this scenario was to adopt the serviced office. Clearly there are significant cost savings, however the benefits are not just monetary. By selecting a serviced option the client also benefits from:

  • Flexibility to move office and location as the business grows
  • Invest £10,500 capital in growing their business
  • Utilise business centre staff for reception greeting and call answering
  • Eliminate time managing suppliers through an all-inclusive package
  • Portray a corporate image to clients and visitors

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