TRADITIONAL OFFICE SPACES FOR RENT

What is a Traditional Office Space?

For established businesses looking for a long-term office of their own, a traditional office would be the best option. When you typically think of an ‘office space’ - a traditional office space is generally what you are picturing. It involves a fixed contract between a landlord and a tenant or a tenant and a subtenant, with a typical lease period of 2+ years. As traditional offices are often in a bare or semi-fitted state, the tenant can fully customize the space to suit their unique business needs such as setting up partitions, furnishings, internet connection, cabling, break room areas, etc. However, there are some traditional offices that may be fully-furnished that the tenant can adopt as their own. Regardless of the condition, rent will be based on a square foot or square meter basis rather than on a per desk basis as with a coworking space or serviced office.

How is a Traditional Office Different From a Serviced Office?

Where serviced offices provide a plug and play workspace with flexibile lease terms that work on a month-to-month basis, traditional offices are more complex. Leases can either come from a landlord or from an existing tenant and will often involve lengthy negotiations of the terms. It is here that flexibility can be achieved as break clauses can be included in the lease.

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Initial set up costs of a traditional office are higher in comparison to serviced offices, with rent being dictated by the size, location, and length of lease. The larger the office and the more prime the location is, the more expensive the rent will be. However, longer leases can equal to larger discounts and in turn make traditional offices more cost-effective in the long run. In addition, they grant businesses more control over the costs as well as of the internal culture.

What is the Minimum Contract Period in a Traditional Office?

In short, there is no set minimum contract period for a traditional office space. Typically they will be anywhere from 2 years to 5 years or even 10 years. The longer the lease, the more likely a landlord will agree to break options and grant rent free periods to allow for fit-outs as well as during the lease itself. However, the specifics will vary between countries, between landlords, and between buildings, but our Space Experts have experience in advising businesses on these terms and offering the best possible options.