Your Post-Lockdown Guide to Renting Office Space: Q&A With Amanda Lim

Your post-lockdown guide to renting office space

Whether you want clarity over your social distancing responsibilities or you’re nervous about committing to a long-term lease, we’ve got you covered. We spoke to Amanda Lim, Head of Knight Frank’s Flexible Office Solutions team to give you a rundown of your options.

I’m waiting to hear from the Government about when we can go back into the office. When should I start looking for a new office?

Now. If you’re worried about time-frames and committing too soon, it’s worth knowing that providers are offering flexible start dates until Q3. You can sign a contract now and only start paying once lockdown is lifted and you’re ready to move in.

Providers know it’s a hard time for businesses and that flexibility is key – no-one wants to be paying for a brand-new office they’re not even using.

If, for example, you wanted to commit to moving into an office on the first of July, you’ll have the flexibility to shift that start date back to August if Government regulations don’t permit everyone back in the office by then.

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How can I find a new office at the best price?

One of the best ways is to use a broker like us. We know the market inside-out and have strong partnerships with office space providers. We’ll pull together a customised shortlist based on your requirements, organise your viewings and negotiate the best price for you. Plus, our service doesn’t cost you a penny.

If you start your search now, you’ll also be able to take advantage of the discounts office space providers are offering. But if you wait until the end of the year, you might not be able to take advantage of those incentives.

What’s the minimum term-length I can commit to?

It depends on which route you go for. For flexible office space, which will be a popular option for many businesses right now, it can be as short as a one-month contract. 

The average term-length for flexible office space is 12-18 months, but it’s really common to opt for a monthly rolling contract. It can even be a great stop-gap solution for larger corporates who don’t want to be tied in to anything long-term.

Managed offices are 18 months plus, with some being a minimum of 24 months. But if you opted for a traditional lease, you’re looking at a minimum of three years.

For companies with smaller budgets, what are the most cost-effective areas in London?

Office space in London can be expensive, but there are pockets that cater to smaller budgets. On one end of the scale, office space in Mayfair and Kensington can be around £1,000 per desk, but on the other end of the scale, office space in Stratford can be as low as £350 per desk. If keeping costs down is your priority, here are some of your best options*:

• Stratford (£350 per desk)
• Hammersmith (£550 per desk)
• Aldgate (£550 per desk)
• White City (£600 per desk)
• Shoreditch (£650 per desk)
• Midtown/Holborn (£650 desk)

*Average asking price for Q2 2020.

How much space do I need to ensure my office is Covid-19 compliant?

In normal circumstances, a team of 10 would opt for a 10-desk office. But because the responsibility of social distancing falls on employers, it’s up to you to decide what works best for your team.

For example, we’re speaking to a lot of companies who are choosing to work on a rota system, rather than signing up for twice as much space. So, a team of 10 would still opt for a 10-desk office, but they’ll implement a shift pattern that ensures only 50% of the team are in on any given day of the week, while the other half work from home.

What are office space providers' responsibilities to ensure workspaces are Covid-19 compliant?

Providers are responsible for all communal areas and the cleaning of your office. While standard cleaning regimes will vary, most providers will ensure a clean is done at least twice a day and a deep clean is done at least once a week – as a bare minimum.

It’s vital that you feel safe when returning to the office. Providers know that, and they’re truly dedicated to ensuring all their members feel confident in coming back.

If you’re interested in knowing how, Knight Frank recently published a Covid-19 Office Re-Occupancy Roadmap, which outlines some of the ways in which landlords can prepare their offices.

My team have proven that they can work from home successfully. What if I no longer feel the need to have an office?

At the end of the day, it’s completely up to you. We’re biased in believing that office space is a really powerful tool that can help us celebrate the human elements of business: empathy, humour, creativity and innovation, as we explored in our blog, Why We Need the Office – And What it’s Future Will Be.

Ultimately, working from home over an extended period can dilute company culture, cause burnout and stifle collaboration. Oh, and it can even give you Zoom Fatigue.

There’s no doubt that a successful working from home experience might push companies to adopt a more agile working model, with WFH days and more intentionally collaborative office hours, but the office will continue to prevail.

All information in this blog is accurate at the time of publishing.