Private office cost comparison

There are many hidden costs when signing a traditional office lease. Our cost comparison reveals that yearly savings of 44% can be achieved by taking managed space at 1&3 Hill Street. Our comparison looks at a 1000 Ft2 office in Mayfair taken on a five year lease, compared to a similar office at 1&3 Hill Street.

Conventional Office Space (1000 Ft2 office space)

 Annual
Rent £50.00
Monthly rent per Ft2 £4.16
Initial Costs*Monthly
Fit Out £2.00
IT and Telephony £2.60
Legal Costs £1.00
Agent Fee** £0.40
Running CostsMonthly
IT and Telephony £0.50
Contents Insurance £0.20
Service Charge £0.09
Cleaning £1.00
Receptionist*** £2.30
Buildings Insurance £0.20
Rates £1.07
Security £1.00
Utilities £1.00
 
Total cost per ft² £17.52****
Total cost per annum £152,640
Total 5 yr lease- £763,200

* Amortized over 5 years lease- £1.2 per ft²/month or £14.4 per ft²/annum.
£14,400 per annum cost per annum.
** Agent fee based on 10% of contract value.
*** Based on a salary of £24,000, 25 days holiday, and NI contributions.
**** Inclusive of initial costs.

Other advantages

  • Your business can increase or decrease the amount of office space easily
  • Highly flexible notice periods
  • Rent costs guaranteed for three years
  • Simple invoicing enabling better cash flow management
  • No agents fee
  • A simple licence agreement

Managed Office Space

 Annual
Rent £129.00
Monthly rent per Ft2 £10.75
Initial CostsMonthly
Fit Out included
IT and Telephony included
Legal Costs included
Agent Fee included
Running CostsMonthly
IT and Telephony £0.40
Contents Insurance £0.20
Service Charge included
Cleaning included
Receptionist included
Buildings Insurance included
Rates included
Security included
Utilities included
 
Total cost per ft² £11.35
Total cost per annum £85,261

Annual saving of 44%

To find out more about
Office Space at Pasley-Tyler,
contact us on +44 (0) 207 318 0800
or email home@pasley-tyler.com