Businesses thinking of renting managed and serviced offices in London are on the lookout for locations which provide good quality workspaces that align with their financial strategies. This is where Grade B office spaces come in.
In this article, we will explore what exactly Grade B workspaces are, and the many advantages of renting one.
What is Grade B Office Space?
Grade B office space is a term which is used to describe office buildings that are older, less modern, and less expensive than Grade A office space. Grade B has often been occupied by tenants previously but typically can be customised to suit individual companies.
The Benefits of Grade B Office Space
Cost-Effectiveness
One of the main reasons that companies look to rent Grade B office space is because they are more cost-effective.
Renting workspace in London’s prime locations can be expensive, for example, office space in Mayfair has an average desk rate of £1070 per month. Whereas Grade B offices in areas like Stratford cost, on average, £363 per desk per month.
These affordable alternatives allow businesses to allocate more funding to recruitment, marketing, or technology.
Character
As Grade B buildings are generally older, they often offer character and unique architectural features. This can range from exposed brickwork to wooden floorings and ceiling beams. This distinctive working environment can enhance a company’s brand image and improve employee satisfaction.
The Tea Building in Shoreditch
Originally a tea warehouse for Lipton Tea, this building has been transformed into a mix of retail and office spaces. It's popular with tech and creative companies, as is workspace in the Shoreditch area. It provides an industrial aesthetic blending character and functionality.
Strategic Locations
Grade B office spaces are strategically located in both Central London and Greater London, this allows companies to pick a location which suits their budget. London boasts one of the world’s best transportation networks so offices in Greater London are not too out of reach.
Waterloo and Southwark
Waterloo and Southwark are the perfect examples of strategic locations for Grade B. Both areas offer excellent connectivity to both Greater London and areas north of the river, attracting companies looking for value and accessibility.
Sustainability and Customisation
Grade B offices can sometimes allow for more customisation than a Grade A workspace. As buildings may require some refurbishment, businesses can upgrade the space to fit their company requirements or sustainability goals. This can provide a tailored working environment reflective of a company’s values.
The Chocolate Factory in Wood Green
The Chocolate Factory in Wood Green is a prime example of Grade B workspace which can be customised. Businesses renting office space here have tailored their workspace to reflect their company’s image and operational needs.
Networking and Community
Companies renting Grade B office space in areas (London or otherwise) with a high concentration of similar businesses can benefit from a wealth of networking opportunities and a sense of community. This can lead to greater chances for business collaborations and growth.
The Biscuit Factory in Bermondsey
The Biscuit Factory in Bermondsey is a hub providing Grade B office spaces encouraging networking and collaborations. Built on the site of a former biscuit factory, it boasts a community-focused approach which has proven popular for companies in the digital and creative sector.
There is a wealth of benefits to renting Grade B office space in London, from cost savings to networking opportunities. They offer functional, customisable workspaces which can cater to diverse business needs. As office space in London evolves, Grade B office spaces will continue to remain an attractive option for companies looking for value and character in their workplace.
