Is 2015 the Year of the ┬ú2000+ Workstation?
Will we witness a significant milestone for the serviced office industry in Central London during 2015, the arrival of the ┬ú2000+ workstation?
The location for this potential price point – The Shard, with multiple serviced office providers understood to be exploring the possibility of securing space in this landmark property.
While each of these iconic addresses can command workstation prices in excess of ┬ú1500 per month, the economics of securing space in The Shard makes the reality of a serviced office with a base-level workstation rate of ┬ú2000+ workstation in Central London seemingly inevitable.
Prime Property Appeal
Despite famously opening with its 600,000 sq. ft. of office space empty, the building has now secured a string of lettings from tenants such as Duff & Phelps, Mathys & Squire and the Al Jazeera Media Network.
As this letting momentum continues, serviced office providers have naturally entered the mix, strategizing the features and benefits of adding LondonΓÇÖs tallest building to their respective property portfolios.
The customer proposition from a serviced office provider operating in The Shard is a strong one. Not only would they make a premium property comparatively accessible, but also, for those operating business lounge / co-working networks, it offers a trophy asset to enrich their overall appeal and attract new members.
Build It and They Will Come?
A key question is will clients go for a serviced office at ┬ú2000+ per workstation per month? In my opinion, the answer is yes. You only have to look north of the river to see clients consciously opting to pay a premium to be in a specific building ΓÇô even when the fit out and services are inferior.
Guest blog from officebroker.com’s CEO┬áChris Meredith.