Startups and small teams looking to make their way in the modern business landscape simply cannot afford to play by the old rules. Startups thrive in environments conducive to innovation, flexibility, and collaboration. Traditional office spaces, while ideal for large teams, are inherently unsuitable for startups, freelancers, and other creative professionals. A shared office space, […]
Startups and small teams looking to make their way in the modern business landscape simply cannot afford to play by the old rules. Startups thrive in environments conducive to innovation, flexibility, and collaboration.
Traditional office spaces, while ideal for large teams, are inherently unsuitable for startups, freelancers, and other creative professionals. A shared office space, also known as a coworking space, is ideal for such organisations. Fully furnished and managed workspaces that house the amenities required for focused work, and shared office spaces are becoming increasingly popular choices among modern professionals.
Before choosing the right coworking space, one question likely comes to mind:, ‘How much does shared office space cost per month?’ Keep reading to find out all about coworking spaces and their economics.
A coworking space is a shared workplace where you can rent desks or private cabins for a flexible term. Coworking spaces have witnessed a tremendous surge in popularity in recent years as their productivity, collaboration, and employee satisfaction benefits have been revealed and experienced.
Most coworking spaces are fully furnished, and house essential amenities, including Wi-Fi, breakout and meeting rooms that prioritise employee comfort. A typical coworking space in the UK is a melting pot with several startups, freelancers, creative professionals, and digital nomads working simultaneously under the same roof.
Here is why coworking spaces are ideal for startups and freelancers:
A fully furnished coworking space costs significantly less than owning a traditional office setup. A coworking space doesn’t require you to commit to a long-term lease, invest in expensive furniture, or take care of day-to-day maintenance and security.
Coworking spaces lead to increased productivity by nurturing a comfortable and distraction-free environment. As opposed to a home office setup, a coworking space is designed for the purpose of focused work, thus leading to a rise in productivity.
With a coworking space, you can decide your lease term and the number of seats to rent. Scaling up or down is easy, as you can rent a bigger space or downsize in a matter of weeks. This makes shared spaces ideal for growing businesses whose team numbers vary, and who prefer not to be tied down by long lease terms.
Now, let’s consider the factors that impact the cost of shared office spaces for startups. These include:
Location (city, suburban area and proximity to transportation) is one of the main factors that determine shared office space prices. To give you an idea of the numbers, here’s a shared office space cost comparison in London, Bermondsey:
| Location | Average cost per month for two desks |
| Tanner Street | 700 £ |
| Tower Bridge Road | 650 £ |
| Crucifix Lane | 1050 £ |
| Blue Lion Place | 600 £ |
| St. Thomas Street | 1020 £ |
Another factor that influences coworking space cost is desk requirement. Depending on the size of your company and how you want to work, you can choose from three main options:
The staff and services offered by the coworking space also influence the overall cost of shared office spaces. These services can include receptionist services, virtual office services, on-site IT support staff, high-speed internet access, cleaning services, etc.
Coworking spaces typically offer a monthly membership inclusive of the amenities like Wi-Fi, printer, refreshments, storage space, etc. Some spaces often also offer day passes that allow you to use the space on a pay-per-day basis. You can choose a plan based on your expected usage time and budget.
If you’re a new business owner in London, GO – Garden Office Bermondsey’s coworking office spaces are ideal for your startup. Designed for freelancers, entrepreneurs, and growing teams, our workspaces are flexible, affordable, and conducive to maximum productivity. Our flexible rental options are designed by considering the varied requirements of modern professionals and startups. We offer convenient lease options that allow you to rent our spaces for the time duration that suits you.
Book a coworking space with GO – Garden Office Bermondsey today and take the first step to success in the magical city of London!
