Six reasons why your office rent is rocketing
Your office?s position in the buildingIf you?re lucky enough to work on one of the top floors in a high storey building ? one which boasts panoramic views of your surroundings ? you could be paying a considerable amount more than if you took an office on the lower floors. An office at the front of a building that has access to lots of natural light will also carry a much higher premium than a rear facing office, especially compared to internal offices with no windows.
FacilitiesIf your office is in a building that boasts access to lots of high-quality breakout space, meeting rooms or even a luxury roof terrace, you?ll obviously be paying will be more than one without. If you?re trying to reign in your finances a little, you should perhaps consider whether these added extras are really necessary to the functionality of your business.
IT infrastructureIt?s something that a lot of business owners don?t think about unless they operate within the IT supply industries, but office buildings with top notch IT infrastructure will demand a premium. Some buildings will even have 10 gig lines, backup lines and backups to the backups! These will be more expensive than a building with basic spec IT.
Quality of the spaceSimply the quality of the space will also have a big impact on rental value. A newly refurbished building with the best fit out and new aircon will always be a step up in price compared to a neighbouring 1970?s building that is starting to become dated.
Length of contractIf you are in a position to be able to commit to a 12 or 24-month contract, this would typically place you in a much stronger position to negotiate lower rents than if you were looking for a shorter term, or a rolling contract.
Occupancy of the buildingNew buildings with lower occupancy levels will typically have more scope for negotiation than a building that is at a higher occupancy. Williamson added: ?This information will hopefully give business owners a heads up, so they know what to expect and what to budget for when it comes to relocating or moving into serviced offices for the first time.?
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