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What is a Leasehold office?

What is a Leasehold Office?

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When searching for a new workspace, it is important to understand the different types of offices before proceeding. A leasehold office is also known as a traditional office. Leaseholds are fixed for a period of 3-10 years; however, leases often include options to break which act as opportunities to leave the property at pre-determined dates. There are different types of leases for example subleases, lease assignments and new leases direct from landlords. To understand these fully it is always advisable to instruct an agent like ourselves.

Traditional office space is rented on an annual basis at a cost per square foot of area. It is rented on a annual basis at a cost per square foot of the net internal area. It is the tenant’s responsibility for paying the rent, rates, and service charges. The interiors are the responsibility of the tenant except for a few cases where the landlord pre-organises the office (category A+ office space). The tenant is responsible for managing and maintaining all facilities within their demise. This includes space planning, furniture, fit-out, cleaning, IT, telephone network setup, utility bill payment, and service expenses. Typically, the running costs are uncapped where a tenant can easily encounter unforeseen costs. For example, if there are any defects within their demise.

What is the difference between serviced office space and leased office space? 

Serviced offices offer a team to fully fit-out and manage the running of the workspace. The contract is usually up to twelve months to three years due to the license, and they can be quicker to move into compared to Leasehold. The main advantages of these offices are transparency via all-inclusive monthly costs, flexibility, and lower set-up costs in comparison to leased accommodation. Private offices, fixed workstations, hot desks, and coworking spaces are all available in serviced offices. You share common parts of the space which means that the kitchen areas can be more glamourous.

What is a Leasehold office?
Bermondsey Street, London SE1

What are the benefits of a Leasehold office?  

  • One of the main advantages of a traditional office is the possibility to maintain your company presence. This can be through signs at the entrance to the office, as well as throughout the rest of the decor. As a result, it gives you more options for protecting your company’s image.   
  • It gives you more control over how you use and manage your office space. You may choose to add more meeting rooms, breakout spaces, and multiple kitchens, it is entirely up to you how you organise the space.   
  • Established companies can consider longer leases as it makes it worthwhile to spend on the fit-out if it lasts for a while.   
  • Businesses under a lease typically have the security of tenure. To understand this better it is important to liaise with a company like Victor Harris.

What are drawbacks of Leasehold offices?

  • Compared to serviced and managed office spaces, deal completion normally takes much longer as it is a more in-depth process.    
  • Uncapped costs – I.e., costs to repair faulty items within the demise, costs for professionals and costs associated with exiting the lease.  
What is a Leasehold Office?
Alfred Place, London WC1

Why should you choose a Leasehold office? 

You should weigh up all your options carefully and take Serviced and Managed offices into consideration before deciding. Location is also a key factor to consider depending on the business needs. Choose a conventional office only if you are looking for a permanent business location to build your own business space, by investing sufficient time and resources. If you are considering housing a substantial number of employees and you need plenty of additional space, then a traditional office is the best option for your business. 

How do I find leased office space? 

Using agents such as Victor Harris is the most efficient way. However, companies who have the time to search/learn can do so. Typically, it is advisable not to do it without expert help, as if a mistake is made it is something a business would have to endure for the duration of their lease. Alternatively, our website, which is soon to be re-launching again. The new sophisticated search system that gives you the ability to search yourself.

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What is a Managed Office?

What is a Managed Office?

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With office costs continuing to rise, more and more business owners are considering to move their business into a managed office space. But what exactly is a managed office? What are the benefits? How do you know if it is right for your business? This guide will help you answer all these questions and get a better understanding.

Is it the same as a Serviced Office?   

Although sometimes confused with a serviced office, there is a significant difference between the two. Managed is a hybrid space which is in between serviced and leasehold. It offers the flexibility of serviced with the privacy of a leasehold self-contained space. This means flexible terms and a fully fitted space for a single monthly price. This is like serviced but with the benefit of being self-contained like traditional leasehold space.

The offices come fully equipped and the provider takes care of any issues that arise. For example, if the air conditioning stops working, the provider will be responsible for resolving the issue. This is unlike a leasehold office, where problems would directly rest with the occupying business.

Typically deposits with managed offices are lower in comparison to leasehold and contracts are usually shorter, with either licenses or short-form leases. This is different to leasehold as they require around 30/50 page leases. Managed offices are known to be better tech-enabled spaces with seamless mobile apps that communicate with the managed office provider. The providers are also enhancing their offerings which go as far as concierge services.

Pictured: A Managed Office we are marketing in EC2

What Are the Benefits of Using a Managed Office Service?

Greater flexibility  

Many managed office contracts last at least around 1-3 years. However, shorter agreements can be arranged between the two parties. The flexibility aspect usually appeals to start-ups and small businesses that do not have the financial stability to commit to a longer term. If you are a larger, more established business, you can also negotiate for agreements to last even longer, giving you security and stability. 

More privacy  

Managed offices offer increased privacy since none of the areas of the building is shared with other companies. Therefore, there are no interruptions by other people. This enables you to concentrate without being distracted, which is great for firms dealing with sensitive information or discussing and organising company activities. Some offices have their own front door, which is great for those that have clients visiting and want to make a good impression.  

Control with design  

A managed office is essentially a blank canvas for the renter to put their mark on. The advantage is that you can create a space that works best for your business. Desks, lighting, colour schemes and branding can all be customised to fit business needs. When it comes to the design and decor of the office, it is ultimately up to the renter. Meeting rooms can be added to the space as well as private office rooms. The office team will provide you with an interior designer who will work with you to create your vision. This service comes with the price of the office.

Lower risk and cost

The fixed monthly fee gives businesses access to available facilities and enables companies to leave the premises if they want to move on later down the line. Therefore, there will not be any surprises with extra charges when moving in or out, so renters can keep track of spending.   

Space Management

Managed office providers will take on the role of the operations team for your company. This means they will ensure the office is cleaned and maintained. They also stock up the kitchens with milk and other essentials like coffee and even organise birthday celebrations for your staff members.

Pictured: A Managed Office we are marketing in EC2

Why Should You Consider Moving to A Fully Managed Office?   

You should consider a fully managed office if you want the best of leasehold and serviced in one. This is also a great option for those that have outgrown their serviced office spaces and are now looking to move into a space of their own but still with flexibility and convenience. If the design is an important factor, then this also the option is for you. The office team will work with designers to create a bespoke fit-out that suits your company’s needs. This could be in a modern working style or a traditional one depending on the company’s preference.  

If you find yourself wanting to get straight to work and have office rooms, meeting rooms and amenities ready for you, then a serviced office is the best option for you. This option will allow you to move into an office right away without having to design the space. If you are still unsure about the type of office that will suit you best, then get in touch. We would be happy to answer any questions you may have.

If you would like to find a Managed office, Victor Harris can help. We will be able to find you a space that suits your needs and requirements. Get in touch with our team of experts on 020 7183 8458 or send us an email inquiry at [email protected]

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What is a Serviced Office?

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A serviced office is already setup with everything that you need from the day you move into it. A great option for those that would prefer to have everything included into one payment. Serviced office providers are responsible for the upkeep of day to day tasks, ensuring everything runs smoothly. This includes the front desk, stocking the kitchen with amenities, cleaning, replacing broken light bulbs and installing the WiFi. This means that you can focus all of your attention onto your business.

Serviced offices are great for companies who wish to move to their desired location quickly and efficiently. They provide flexibility compared to leasehold offices as they have various sized options. This can be great for businesses to size up or down according to the needs of the business. Unlike the traditional office space, a serviced office ensures the company only pay for the space or desks that are being used.

Inevitably, this office type has become a popular option for businesses. Allowing for the small and tedious tasks of what running an office entail to be handled by service providers, which again packaged within what you would be paying. 

Serviced offices charge businesses a single inclusive monthly cost based on a per desk price. The price is established based on location, quality and interior design. Contact the Victor Harris team on 020 7183 8458 or [email protected] to find out more.

Features In a Serviced Office

The features of what a serviced office can provide vary according to basic needs to something more luxurious. 

A standard serviced office would include:

  • Furniture 
  • Mail services  
  • Kitchen facilities 
  • Cleaning services 
  • On-site security
  • High-speed internet 
  • Audio-visual equipment
  • Printers and photocopiers 
  • Front desk management/co-ordination

As listed, these are the essentials of what a serviced office would provide you with, forming the clockwork for how your business would function in a well-serviced office environment. 

Extra Benefits In a Serviced Office

A further benefit of working in a serviced office is that can be rented on a flexible and short-term basis. It offers inbuilt facilities such as clerical support and reception staff. Also, there is the emphasis on little input needed from the tenant, which minimises upfront capital expenditure such as buying furniture and other costly needs to suit your business’s needs. 

Luxury serviced offices can offer further services such as: 

  • Bike storage
  • Roof terraces 
  • Gym facilities
  • Shower rooms
  • Coffee lounges
  • Private meeting rooms 
  • Fitness and wellbeing classes 

Flexibility & Scalability 

Serviced offices are great for start-ups and entrepreneurs, ideal for companies not looking to commit to long-term contracts with hidden costs such as maintenance. Similarly for businesses that are expanding into new markets, this is a great option due to the short-term rental option. Particularly after the pandemic, the serviced office has become the more desired choice due to the flexibility and move-in ready nature of the spaces. 

Serviced offices are the best option for accommodating growth due to the unpredictability of running a new business or freelance operation. For example, if a business takes on new hires and realise they need more space to operate comfortably, they can expand in a fuss-friendly manner. 

The services provided in these spaces also include bookable meetings rooms and a managed reception area. This ensures that the office is maintained in a professional and accessible manner, and so making it great for hosting guests.

A Stimulating Workspace

Many serviced offices strive to provide bespoke and unique aesthetics and layouts such as plush furniture or unique design features. According to what your company provides, being a creative company to a corporate one, the spectrum is wide full of options that would fit your ideal workspace appearance. This is also a selling point as it can negate the sense of monotony that can be intrinsic to the more traditionally bland office environment. Post-pandemic life has pushed for a place that is for wellness as well as work. Many serviced offices offer extra amenities, such as lounges, pool tables and events, all organised by the office provider. 

Summary of a Serviced Office

To conclude, the benefits of a serviced office include flexibility to choose how long you need the office for and how much space you need. The facilities are all included in a monthly payment, and you only pay for what you use. Ultimately, everything is ready for you, along with amenities. You do not need to think about fitting the office yourself – you can simply move in.

Would you like to find your ideal serviced office? Victor Harris can help you with your office search to suit your needs and requirements. Get in touch with one of team of experts on 020 7183 8458 or send us an email inquiry at [email protected].

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Which office is right for you: serviced, hybrid (managed) or leasehold?

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Are you on the hunt for new office space and undecided on which space is right for you? Finding the right type of office space for you can be quite complex. Especially when there are several types of offices to suit diverse needs. Consideration of cost, location, size of office space and building amenities will be significant to ensure that the property lives up to your specific requirements. Finding the right office is crucial to having a successful company culture and productivity. Victor Harris can help you find a suitable location at a low monthly cost, with their office search to make the process easier.

If you want to learn more about these types of offices, read on for further information. Victor Harris can offer you the right advice and guidance in deciding what office rental to choose.

Serviced Offices

Serviced offices are ideal for those unsure about working patterns, who want to embrace flexibility and only pay for space when required. These types of offices are good for those wanting increased amenities for employees, to empower the workforce and to help encourage them back. The advantage of managed offices is that they allow you to grow on-demand as and when you need to. Additionally, tenants share the breakout rooms, kitchens and lounge areas, making them affordable and sophisticated.

These types of offices consist of fully serviced work-ready spaces or individual workplaces. Therefore, this results in the rent being an all-inclusive price. This not only covers the office spaces but also amenities such as reception services, concierge, networking events, wellness, cleaning services and power. Consequently, the offices come in a furnished fashion, including IT infrastructure, security, furniture and anything else your workspace may need. These offices usually have multiple locations, so you can book meeting rooms in other buildings, if required.

Usually, serviced offices are built specifically with this assistance in mind, making them different from managed offices. This will include all the essentials of contemporary businesses. As these offices are rentable for any length of time, it allows the business to be flexible. There is no up-front capital expenditure and costs are given in an all-inclusive invoice. Along with this, broker fees are all-inclusive, making things incredibly simple and flexible! 

Managed offices 

Managed offices are typically self-contained floors with bolt-on services and are fully included within a single inclusive monthly charge. This includes set-up fees, running costs and exit fees (dilapidations). They are bespoke options and usually include furniture and relevant designs suitable for the occupying business. Commonly they are more advanced and efficient than traditional A+ fitted spaces. The provider or property owner would manage issues that may arise such as an air conditioning breakdown or a broken light. They allow the business to focus on running their company by handling the broker fees and running costs.

These types of offices work well as hybrid working solutions. They take the best elements from traditional leasehold and serviced office space facilities, merging them together. Renters are therefore, free from the obligations of a traditional lease, such as being responsible for defects. Managed offices are great for those who would prefer to have everything done for them but also want to maintain an exclusive image.

Leased offices 

A conventional owned leased office space allows you to rent from the owner of the building directly at a cost per square foot per annum basis. Unlike the managed or serviced office options, you stand at the risk of a rise in cost. Everything rests with the tenant, i.e., maintaining stocked kitchens, building the office environment and making sure everything is working. Companies who choose a leasehold may need to consider an operations team or an office manager to take care of the day-to-day tasks like these.

At the end of the lease, you will be responsible for dilapidations. This type of office is a longer-term solution than a serviced office. A contractual commitment agreement is usually around 3 to 10 years. Larger businesses usually go for leased offices, being confident that their business will not crumble in future years.  

Renters must keep a budget in mind since they will have to cater for other costs. This can include IT, security, utilities, and service charges amongst other factors, together with paying capital expenditure at the start. Furthermore, renters should be aware that they must return the office space to its original state when the lease ends. Office rental can be tricky when there are so many options and features to weigh up. However, picking the office space that suits you is an essential contributing factor to the success of your business.

Summary

The biggest point to consider is that leasehold has uncapped costs i.e., business rates and running costs. Managed offices offer a slightly higher inclusive rental price however, this includes more bolt-ons. This makes it easy to keep costs fixed each month, however, serviced offices offer an easy flexible experience. Monthly costs are higher with leasehold offices when you consider all of the combined fees such as stamp duty, rent, rates, professional fees and service charges.

Difficulties may arise when weighing up the advantages and disadvantages of each and it may also be unclear if the best deal has been negotiated. You may want to allow the professionals to take this work off your hands. This ensures that the required needs have been met and the best deal has been made.

A combined 30 years of property experience makes Victor Harris one of the most experienced in the industry. We can provide any client looking for commercial property in London with knowledge of market insights and traditional surveyor values. Victor Harris offers both technological and traditional treatments, to meet the needs of every individual. 

To use the Victor Harris office search, contact the team here.

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2022 Commercial Property Predictions

2022 Commercial Property Predictions 

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Our 2022 commercial property predictions are in! Hybrid working was normal for many people since the start of 2021, but will it remain that way this year?   

Companies have had to adapt to new regulations and restrictions brought on by the pandemic. This has left many to question the future of the commercial property market. As a result, business leaders are now starting to understand exactly what they want in an office space. Here are our 2022 commercial property predictions on what to expect for commercial property this year.  

2022 Commercial Property Predictions 

Offices Will Turn Into ‘Hubs’  

Hubs will now be the new normal. As hybrid working will be here to stay, hubs will give employees a company base, allowing colleagues to meet in person. They will be able to come in a few days a week for collaborative tasks and spend a couple of days working from home.

This means that there will be no “designated” desk space, as not everyone will be in the office simultaneously. Giving employees the flexibility to work from home is not only beneficial to their mental wellbeing but also allows them to feel more energised on the days when they do come into the office.  

According to a survey carried out by Workplace Intelligence and WeWork, 64% of employees would pay for access to office space. In addition, 75% would give up at least one benefit or perk for the freedom to choose their work environment. Therefore, allowing employees to have freedom on where they work can allow better results for the company. Employers will win by mixing in-person and virtual for the best employee and client experience that maximises flexibility with relationship building.

Flexible Office Spaces Will Become The Norm  

Our 2022 commercial property predictions show that we will start to become more flexible with office spaces. Flexible working spaces have always been around; however, they have become more popular due to their hybrid working capabilities. This shift has seen the flexible and serviced office market expand rapidly, underpinning the growing demand for a broader office market.

Offices can change accordingly to suit business objectives and working styles and scale up or down accordingly. Flexible office spaces offer different variations of setups, these can be open plan, have quiet areas and adaptable workstations.  

It allows for face-to-face structured discussions or meetings and enables people to work independently in small booths or quiet areas. To sum up, flexible office spaces boost productivity by providing teams with access to shared spaces and the resources they need.

On-Demand Office Space Will Increase 

On-demand workspaces provide versatility and cost efficiency for employers and employees alike. According to our 2022 commercial property predictions, these will increase in demand this year as they save on the expense of full-time offices. They will be used more by smaller businesses looking to work distraction free and make their businesses a success.

On-demand, office spaces are workspaces that can be booked as and when they are needed. They can be booked from a phone the same day and are usually closer in London. Offices usually come equipped with everything from Wi-Fi, printers and even reception desks if help is needed.

Victor Harris can help with on-demand spaces. Contact the team for more information to book a space for your required date, time and location.

Amenities That Support Hybrid Working Will Become Key Selling Points  

Our office space insights predict that office providers will focus more on implementing amenities that enable greater communication between hybrid working teams. These include TVs with screen sharing capabilities, video cameras and fast Wi-Fi. In addition, phone booths will also increase in office spaces to allow for one-on-one conversations in private spaces. 

Allowing your staff, the space to concentrate on focused work remotely, as well as providing the facilities to collaborate, celebrate and create in your workspace, optimises productivity and leads to greater profit overall.   

Those that are looking to get employees excited about coming into the office again could consider opting for office spaces with added features. For example, these could be terraces, bicycle storage, gym, and shower facilities. Allowing employees to add exercise around their day can boost productivity and be great for mental health and wellbeing.

Reduce Environmental Impact  

Businesses will be looking to reduce their carbon footprint emissions, where possible, this year. Therefore, they will be choosing a sustainable commercial property to lease, rather than brown buildings (those without sustainable qualities). Buildings, in general, are the largest source of the world’s carbon emissions globally.  They account for around 40% of total emissions according to Architecture 2030, a nonprofit environmental support group.  

Lenders and investors are beginning to see the benefits of financing sustainable buildings that implement environmentally friendly features, such as solar panels and energy features on board. Implementing energy-efficient systems, as well as adopting an environmentally minded company culture, can eliminate waste, conserve resources, and even save a lot of money for companies.  

Moreover, employees are also more aware of how climate change is increasing and are looking to work in sustainable office spaces. They can also be a lot more appealing with natural light, plants, and eco-friendly office supplies.   

2022 Commercial Property Predictions 

Shorter Leases Instead of Traditional Office Leasing Periods of 5-10 years 

Our office space insights anticipate that 2022 will see a considerable shift from traditional office leasing that requires a 5–10-year sign-on. Shorter leases will provide flexibility and less commitment from businesses. A shorter and smoother completion process will also be rolled out ensuring less valuable time is taken from the tenants. To conclude, this process will be tenant led, with landlords changing how they usually work to keep their properties occupied.


Our office space insights show that companies will take steps to find commercial property that supports their hybrid working needs. These will differ for each company depending on its size and structure. However, these changes will be beneficial for productivity and remote working, as well as spending on the right amenities.  

If you are looking for office space to motivate you and your employees this year, you can contact Victor Harris. We can find an office that will suit you and your company’s needs better during these changing times. 

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employee wellbeing

7 Ways to Improve Your Employee Wellbeing Strategy

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The wellbeing of employees should be the priority of any employer. After all, the happier the employee, the more motivated and productive the employee will be. An employee wellbeing strategy will not only help grow the success of your business in the long run, but it can also relieve potential mental health issues including stress and anxiety for everyone at work.  

There are several things you can do to improve employee wellbeing strategy, so it’s time to start paying attention to what you should be doing to help out your workers today. Many companies have already started to shift towards constructing a healthier and happier environment for their employees to build a stronger team. To do this at your own company, take a look at the suggestions below to create a better employee wellbeing strategy.  

Your Employee Wellbeing Strategy

1) Encourage Mindfulness Activities  

Mindfulness is a great activity to practice daily. It can relieve stress and anxiety, helping us to cope with everyday life. By being mindful employees can shift their concentration to the present moment. This reduces the potential of them feeling overwhelmed.

This is particularly effective for those in high-demanding jobs. Practising mindfulness is something that businesses should be encouraging. Having time to reflect at work can help employees to feel better in the long run. This will help them to destress when dealing with a full-on workday.

2) Invest In a Better Office Space  

Switching up your office space can be a welcome change for employees and, as a result, improve their sense of wellness. Consider moving to a new office space that offers better amenities for staff such as gym facilities and wellness rooms. Working in an uninspiring office space can impact your employee’s mental health and wellbeing.  

If your office space is lacking elements that could improve wellness at work consider upgrading your space. An office move can benefit everyone and bring your employee wellbeing strategy to life. If you’re not sure where to start in finding a new property, it’s worth leaving it to the experts.  

At Victor Harris, we can make your transition to a new office space as smooth as possible. With our market-leading technology and decades of experience, we ensure that your hunt for the perfect commercial space can fulfil your needs. 

View our office search to see how we can help you! 

employee wellbeing

3) Raise Awareness of Mental Health  

In this modern age, there has been increased awareness of mental health. Workplaces should develop to help workers target their problems and overcome them to have an improved sense of wellbeing.  

According to the OECD, the impact of ill mental health is costing the UK more than £94bn every year. Helping employees to copy with anxiety is emerging as one of the top priorities for HR leaders. Positive emotions such as creativity, compassion, and empathy only thrive when a person is feeling positive about their wellbeing. This means that you should be addressing issues within your company that prevent employees from feeling their best.  

Therefore, anxiety and other mental health issues should not be ignored. Raising awareness of problems is the first step to take towards dealing with these problems. So, wellness at work can certainly contribute to helping employees perform better.

4) Have Open Discussions

Engaging in open discussions at work can improve employee wellbeing by allowing employees to feel as if their voices are being heard. This helps them to feel like they have value. These open discussions can target and tackle any issues that workers are struggling to cope with in order to boost productivity in the long run. After all, if your employees are struggling to deal with their wellbeing, they probably won’t be carrying out their duties to the best of their ability.  

5) Recognise Efforts and Give Praise  

No one likes doing work only for their efforts to be ignored. Acknowledging and rewarding efforts is a great way to boost motivation, show your employees that you care about them, and enhance wellbeing. Praise can be in the form of cash bonuses or simply just saying ‘well done’. No matter how small your act is, showing appreciation for work can make your workers feel valued as part of the team.  

6) Encourage Breaks and Days Off  

Everyone needs a break every now and then. Time out and time off for relaxation can take employees out of their daily stresses and anxieties, helping them to reflect and re-energise. This will help them perform better at work in the long run. Having the reward of a day off can really help to increase wellness at work, keeping employees motivated and fulfilled in their needs.  

7) Improve the Office Environment  

Creating a welcoming office environment will motivate workers to complete their weekly tasks to a higher standard. This is especially true if they are responsible for carrying out important tasks in these surroundings. A dreary office can significantly impact well-being.  

Furthermore, having an environment that also supports wellbeing can be an asset. Consider dedicating a room to relaxation, reading and maybe even yoga. You should also adopt a space with plenty of natural light since this can improve health, mood, and even sleep. If you can’t create structural changes to your office space, investing in natural lightbulbs is still a small change that can have a huge positive impact on workers’ emotional health.  


Implement Employee Wellbeing Protocols for Wellness at Work

Your employee wellbeing strategy is an important asset to your culture and overall growth. On average, employees serve a longer tenure at companies that understand the importance of wellbeing. The well-being of your employees is integral to the success of your business. By taking care of your employees’ needs, you begin to operate on a more human level and create a happier working environment for all.   

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4-day work week

The 4-Day Work Week: Pros and Cons

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Estimated reading time: 5 minutes

The idea of working 5 days a week, Monday to Friday, is the norm in our modern society. The weekend is always over before it has barely begun, making Monday Blues a very common occurrence. But what if life could be better with a 4-day work week? 

89% of respondents in a 2021 Harvard Business Review survey claimed that their work-life had worsened. 85% of respondents described reduced levels of wellbeing. Therefore, the traditional Monday to Friday working week certainly needs to be rethought now that people are returning to the office.

Common features of today’s working world are circled by stress, exhaustion, and the sense of being overworked. Read on to find a discussion of the pros and cons of a 4-day working week. See if it would be right for your company! 

Research on the 4-Day Work Week

A 4-day work week typically consists of compressing 5 days-worth of work into 4 days or reducing employee work hours. Many countries including New Zealand, Spain, and Japan have been trialling this 4-day work week. The most recent country to try this is Iceland. In an effort to see how this change affected workers and their productivity, Iceland underwent a trial that monitored employees with reduced working hours across different public sector companies.  

It resulted in overall success with happier, more productive workers. This prompted 86% of the country’s employees to now taking shorter work hours for the same wage. With other countries’ clear success in reduced workdays, perhaps other countries will soon follow their lead and break the tradition of a 5-day week. 

The Pros of a 4-Day Work Week

Whilst the findings of international studies speak for themselves, let’s take a closer look at the advantages both employees and employers can benefit from by the introduction of a 4-day working week. 

Increased Wellbeing 

Over the years, mental health has become an increasingly important aspect of the corporate agenda. Some mental health problems are incredibly common, even causing people to call in sick to avoid going to work. This leads to a lack of productivity and could even make the company lose out on profits.  

However, introducing a 4-day work week could certainly improve workers’ mental wellbeing, giving people more time to relax, reflect, and spend time doing things they love. Whilst this will make employees happier in the long run, it can also reduce the number of absentees. 

4-day work week

Increased Productivity 

Productivity levels are boosted in short bursts, making the idea of fewer working hours practical. Working for too long would cause exhaustion, creating a lack of focus.  

Equality

Workers who are parents may struggle with the prospect of long hours. Traditional working styles and the expense of childcare has forced some parents into unemployment. Introducing a 4-day work week would reduce this burden, giving parents with childminding responsibilities a better work opportunity. 

Smaller Carbon Footprint

This one might not be the first advantage that comes to mind when thinking about a 4-day work week, however, going into work one fewer day a week can have significant environmental benefits. With less commuting, workers would save fuel and reduce the extent of harmful gases being released into the atmosphere.  

Also, less energy will be used up in the office itself, with huge numbers of appliances like lighting, technological devices, heating, air conditioning, and kitchen appliances being switched off. If more and more companies decided to take the 4-day work week approach, we could improve our environment vastly. 

The Cons of a 4-Day Work Week

Whilst there are vast numbers of benefits to having a 4-day work week, it also might be worth considering the disadvantages. 

It Doesn’t Suit Every Business Model

Some businesses prefer the structure of a 5-day working week because they can put the necessary hours in that might otherwise be impossible in just 4 working days. Furthermore, some workforces need a 24/7 presence, making the idea of a 4-day work week impractical. A 4-day work week would pose unwanted delays in urgent situations when considering certain professions such as those in medicine. 

Some People Are Paid Based on Hours Worked

The 4-day week does pose a problem for those who are paid on the number of hours they have worked. Some workers may lose out on an extra day’s pay in this way, putting livelihoods at risk. 

4-day work week

Potential Cost Issues 

Some companies might not be able to afford to pay their workers for only doing 4 days of work a week. With one less day of work a week, some smaller companies may lose out on important deals and profits due to a delay in work. This is especially if workers fail to meet their requirements.  

Sweden’s 2-year study of reducing working hours saw higher work satisfaction but became too costly to continue.3 In addition, 4-day work weeks might cause customers to be unsatisfied with the idea that some services aren’t accessible on certain days. This loss of satisfaction could make you lose profits. 

Conclusion

With more and more people returning to the office after the pandemic, it’s important to approach the situation in the right way for the wellbeing of your employees and the productivity of your company. Creating a better work-life balance is crucial for the mental health of many employees across the globe; happiness will, after all, motivate workers to perform better.  

Studies have shown the 4-day work week to be largely successful, but there are still some factors such as costs and impracticalities to take into consideration. Ultimately, it comes down to the individual business model to know whether it is the right approach to take. 


No matter what your business hours are you can find an office space that suits your requirements. Use our no-fee office search to find your dream commercial space.

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hybrid working

The Emergence of Hybrid Working

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Estimated reading time: 6 minutes

The emergence of hybrid working is one of the most obvious impacts of the Covid-19 pandemic. Even as we break away from restrictions that were imposed by the government, hybrid working has become the new normal. 

So, what is hybrid working, and how has it impacted the future of the UK’s workforce? 

What Is Hybrid Working? 

Hybrid working is a flexible working format that enables employees to split their time between the office and home working. The introduction and blend of remote working with traditional working has proved popular with both staff members and business owners.

With the option to work without geographic restrictions companies can hire further afield and choose from a wider pool of potential candidates. Hybrid working has changed the way that we view work schedules and how it benefits companies and employees.

How the Pandemic Led to Hybrid Working 

The hybrid working model certainly isn’t a new one. Prior to the outbreak of Covid-19 approximately 32% of the population had ever worked from home. However, with the restrictive nature of the pandemic hybrid working has now become the norm. 

March 2020 marked the shift toward flexible working as companies scrambled to create new working models that kept productivity as high as possible while also protecting their staff. Industries that would otherwise require their employees to work onsite found that they had to embrace the now mainstream work from home model. 

Over time companies have had to split their workforces. New social distancing measures meant many could only use half their available space. This translated to fewer employees working in the office at one given time.  

With restrictions easing and the world slowly returning to normal it’s safe to say that hybrid working is here to stay. With teleconferencing technologies and cloud-based software, we can now effectively work both in and out of the office. 

Employees’ expectations have changed over time with some preferring the option of working in the office or at least having the opportunity to. With many people experiencing the challenges of not having a dedicated office space, distractions and the unsocial aspects of home-based working it’s no wonder that hybrid working was introduced. 

Plenty of companies have permanently adopted a hybrid working model and adapted their office spaces to suit. From global conglomerates such as Google and Apple to small businesses, companies have acknowledged the benefits of hybrid working. The pandemic has proved that flexible working is possible and that we should embrace the possibilities that it brings. 

hybrid working

The Benefits of Flexible Working 

Hybrid working arguably brings together the best of both worlds. It allows staff to choose how much time they spend in either location. However, some companies request a minimum number of days spent in the office. 

Here are some of the biggest benefits of the hybrid working model. 

Improved Staff Satisfaction 

It’s no secret that commuting to work is stressful, particularly when we’re required to do so 5 days a week. When employees have the option to reduce the number of days that they are in the office it can reduce tension and boost their desire to come into work. 

The flexibility that hybrid working offers often means that employees gain more autonomy. With increased decision making and trust from employers, staff members have experienced a rise in their satisfaction levels. 

Better Productivity 

Less time commuting means that employees have more time in the day to work, as a result, efficiency and output are increased. A recent study found that working from home 1 day a week boosted productivity by 4.8%. 

Literature on this topic attributes this increase to the reduced cost of travelling, better work-life balance and the convenience of working in an environment that is chosen by the employee. 

Improved Mental Health 

Flexibility over working conditions has a positive impact on mental health. In one survey, 34% of respondents stated that hybrid working would improve their mental health. The mix of working from home and in the office provides the social balance that most employees need. 

Full remote working reduces social interactions, which can create feelings of isolation and a negative impact on mental health. As a result, some workplaces are redesigning their office spaces to feel more social which puts workers in a happier mood. 

Reduction in Costs 

With new occupancy levels in offices, companies can plan for the shift in work patterns and cut down costs of rent, office supplies and other expenses. By moving from an office that is designed for the standard 9 to 5 to a new space that embraces the changes that flexible working brings businesses can benefit financially. 

Many companies are choosing to lease new offices that have a mix of relaxed lounge areas, desks and informal spaces. As such many are looking toward serviced offices to accommodate their needs or managed spaces that they can tailor. 

The UK Workforce’s Response to Hybrid Working 

Government bodies and researchers have conducted studies into the hybrid working model. Their findings have outlined the changing attitudes toward flexible working, leading to many employers adjusting their views on synchronous and asynchronous work schedules. 

So, what does the UK workforce think about hybrid working? 

It has received an overwhelmingly positive response in favour of the hybrid working model. An ONS survey found that 85% of respondents wanted a hybrid working model in the future. 

According to YouGov, perceptions of hybrid working had improved. The survey of 1,000 business decision-makers concluded that only a fifth would require their workers to come into the office 5 days a week, as opposed to the initial response of 1 in 3. 

It found that once restrictions were lifted, 19% of business owners were happy for staff to choose which days they want to come in. These statistics are a clear indication of the positive stance toward hybrid working considering how uncommon flexible working options were before 2020. 

Another YouGov survey of 2,000 workers found that 79% wanted at least 2 days of remote working a week. In short, responses to a hybrid working model are positive among both staff and business decision-makers. 

Conclusion: The Future of Hybrid Working

The effects of the pandemic will stay with us for a long time to come. While some aspects will fade away, many will remain with us. However, hybrid working is a positive aspect that has resulted in a more productive and fulfilled workforce. 

By combining the best of the office and remote working, companies can improve their organisations and create a new vision that brings success, increased collaboration and improved wellbeing. 


Are you looking for a new space to suit your hybrid working needs? Check out our office search and see how we can help you.

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Flexible office space

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Flexible Office Space London

Market Trends

Today most only require a laptop, mobile phone and a stable internet connection within their flexible office space.

This flexible way of working has seen the rise in flexible office space London. Over the past decade the number of flexible office spaces in the world has grown by 3,500 percent and the number of people working there increased by 8,000 percent.

According to market leading research 18,000 flexible office buildings currently exist around the world accommodating at

1,700,000 million people. One primitive reason behind this popular trend is the flexibility it provides quickly evolving companies to scale up and down in size seamlessly. With the ever-changing economy, companies are no longer tied down with long term leases. They only pay for the space they need and get access to a vast array of office amenities.

London Flexible Office Space

London has been leading the way in the flexible workspace boom. The number of new flexible working locations in Central London has grown 42% year-on-year. Experts believe that 30% of corporate real estate will be flexible workspace by 2030 and shows no sign of slowing. Throughout London, reports have revealed that the continuous growth has created more competitive rates, lowering the costs on all kinds of office spaces.

VICTOR HARRIS

Victor Harris assist companies who are curious about flexible office space London. We use sophisticated prop technology to locate office space not to mention our own internal database. Thus, through the dedication of our employees our goal is to find something that works for you with both efficiency and ease. Victor Harris too also advise landlords on new ways to enhance their assets. View our latest properties. 

@ [email protected] 

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Commercial property news

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The London commercial real estate market has been one of the best cities globally to invest in the last several years, bringing great vitality and success. Given this there is no reason for this positive trend to be ending anytime soon, despite looming fears of Brexit.

Commercial Office Market

In 2018, commercial offices in Central London attracted £16.2 billion of investment, exceeding that of Manhattan, Paris and Hong Kong. There have many foreign investors that have had continued desire in London’s real estate market.

Greater China has been one the major investors with just last year their investment contributing to 21% of the total London market. Future predictions find that there is £40 billion of capital looking to invest in commercial real estate. Greater China, the biggest potential investor in London, is estimated to invest £10 billion, or 25% of the total London market in 2019. This continued influx of investment is a testament to the desirable location that London offers to global investors.

Currently all indicators in the commercial sector are healthy. In addition to significant capital investment, office vacancy rates are one of the lowest they have been in the past several decades. Since 2013, vacancy rates have dropped from 7% to 4.6% in 2018 and is projected to drop further to 4.4% in 2019. These vacancy rates are a good indicator of the future performance in the commercial sector. Thus, the continuation of low vacancies in the London market are encouraging for both current and new businesses looking to emerge and expand.

This year we will continue to see the rise in flexible working space. Victor Harris are spearheading the approach and are ensuring our clients, both tenants and landlords keep themselves ahead in this fast changing marketplace.

Here at Victor Harris, this positive economic outlook provides us the great opportunity to provide guidance and insight for those looking to find various commercial properties throughout London. Ultimately, with our services we hope to help you find the most suitable space that fits your needs for the right price.

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