London's Office Space Market: A Comparison of Office Broker Services
Are you a business owner or office manager looking for office space in London? With the City's vast and dynamic commercial real estate market, finding the perfect office space can be daunting. It’s vital to know the key differences between the different types of office brokers to help you make an informed decision. Online office brokers, traditional office brokers, and independent office brokers all have their differences, so it's important to know how they differ.
Online office brokers
In recent years, online office brokers have helped the way businesses find office space in London. These platforms leverage technology to streamline the search process for various office space options from coworking and private offices, to serviced to managed office space.
Key features of online office brokers
Online office broker platforms often offer an extensive online database of office spaces available in London or any city you are searching within. Users can easily search this database using advanced filters to find spaces matching their criteria, such as location, square footage, and available amenities such as meeting rooms, outdoor space or gyms.
Pros of online office brokers
- Access to office space listings 24/7
- Ability to compare multiple office spaces
Cons of online office brokers
- Limited personalised guidance on your office space requirements
- Potential information overload for first time office space searchers
Traditional office brokers
Traditional office brokers have been the cornerstone of London's commercial real estate market for decades. These professionals typically work for large, established firms and offer comprehensive services for businesses seeking office space in London.
Key features of traditional office brokers
Traditional office brokers have in-depth knowledge of London's office space market. More often than not, traditional office brokers act as a middle man between business and property owners/landlords. Their focus is on securing long-term leases for mainly managed and leased office spaces, as apposed to serviced office spaces.
Pros of traditional office brokers
- Established relationships within the industry
- Access to off-market office spaces and exclusive deals
- Skilled negotiators for lease terms and rates
Cons of traditional office brokers
- May have higher fees compared to other options
- Potential bias towards properties represented by their firm
Independent office brokers
Independent office brokers operate either solo or as an agency, providing tailored services to businesses no matter the office space requirements they are seeking for their team.
Key features of independent office brokers
Independent office brokers often cover a range of options, from serviced to managed offices, and may offer more creative solutions for unique space requirements. They also have vast knowledge of niche markets or specific areas. In recent years, hybrid or independent office brokers, such as Found, have pivoted away from traditional office space norms by keeping employee wellbeing top of mind. This includes factoring in flexibility by offering office space features such as breakout space, event space, bike storage, on-site showers, pet friendly spaces and more. Hybrid or independent office brokers operate on their own and are there to help you throughout your entire search from viewings to move in day!
Pros of independent office brokers
- Highly personalised service and attention
- Deep expertise in specific market segments
- More agility in decision-making and problem-solving
- Reliving you stress during the search process
Cons of independent office brokers
- May have limited resources compared to larger firms
Choosing the right office broker for your London office space search
When you’re searching for the right office broker to help you find the perfect office space in London, consider your personal needs:
Small startups searching for office space in London
Online office brokers might best suit your requirements, offering quick access to a variety of coworking, hot desking and serviced office space options.
Large corporations searching for office space in London
Traditional office brokers could provide the comprehensive service and negotiation skills needed for large, long-term private office leases.
Businesses with specific requirements searching for office space in London
Independent office brokers might offer the specialised knowledge and flexibility to find bespoke managed office space solutions.
The benefits of working with Found when searching for London office space
At Found, we’re a team of independent office brokers here to help with your search for office space in London. Our expert office brokers provide a personalised approach tailored to you company’s needs.
We have a deep knowledge and expansive network within the London office space market. This allows us to uncover private, serviced and managed offices that traditional and online office brokers might overlook and our relationships offer the potential to give you access to exclusive office space opportunities. Additionally, our agility and flexibility enable us to adapt quickly to office space market changes and your evolving requirements.
Opting for Found as your office broker will not only result in you finding your dream office space, but allowing for a smooth and efficient journey from the initial search to your move-in!
If you’re ready to experience the difference, get started by trying our our free office space calculator to kick start your search!
