SE1 Office Space

SE1 office space, like the postal system and the area it represents, has evolved over the centuries through London’s process of unrelenting progression.

For almost a century, from the creation of the postcode district in 1917, the only way for a business or organisation to occupy office space was to rent it via a traditional lease.

The term was usually at least 25 years, and the tenant could only leave the premises if it broke the lease on prescribed dates, which were normally spaced out at 5-year intervals or longer in many cases.

The process of renting an office would involve employing a solicitor and a surveyor, with the latter being paid a fee equivalent to a percentage of the first year’s rent.

The lease document would contain the terms of the leases, which outlined the covenants and obligations of both the landlord and the tenant.

Upon signing the lease, the tenant would fit out the blank canvas space, decorate it, and furnish it. The tenant would be responsible for the utilities, cleaning, and maintenance of their demised space and would pay a contribution to the service charge based on the amount of the space they rented proportional to the building as a whole.

The service charge would cover the running and management of the building, with items included such as lift maintenance, cleaning and decoration of common areas, utilities for the common areas, security staff, building and roof repairs and usually a contribution to a sinking fund that would be used for future maintenance or works.

The lease would most often contain rent review clauses that detailed the process by which the rent would be assessed periodically, usually every five years. At those times, the tenant would employ a surveyor to negotiate a new rental level with the landlord’s representative. This process would be expedited if the rent was inflation-linked; in this case, rent would automatically increase in line with inflation.

At the end of the term of the lease, or if the landlord or tenant broke the lease earlier, the tenant would ‘yield up’ the space and, through a process known as dilapidations, return the demised space to its original condition. The tenant could arrange for these works to be done or pay a negotiated fee to the landlord, and the landlord would carry on the works.

Leasing office space in this way is still an available option, and it is still the preferred choice by many. It offers autonomy and allows the tenant to brand the space and manage it in their preferred way. It is particularly preferred by larger companies and organisations that have their own property and facilities management function.

However, like the SE1 postcode area, the office rental market has evolved considerably over the last few decades.

There is now a growing number of alternatives to traditional office space for rent in the form of flexible office space and workspace, collectively known as flex spaces.

These include managed office spaces, serviced private offices, and flexibly leased offices.

Managed offices are pre-cabled and ready to fit; the tenant is essentially provided with a blank canvas. However, the tenant works with the landlord or managed office provider to fit out and furnish the space and create a bespoke office with brand identity.

The customised offices can include private reception areas, hot-desking and co-working zones, executive office suites, meeting rooms, break-out spaces, lounges, quiet areas, kitchens, bathrooms, showers, and other elements.

The client can also create a tailored service pack that utilises the technical, hospitality, and business support teams’ services. The landlord or managed office operator will then manage the space on the tenants’ behalf.

Managed offices in the SE1 are available in various sizes and formats, including suites, clusters of suites, floors, multiple floors, and whole buildings. Some offer space for over 500 desks.

Private serviced offices are fully furnished, lockable office suites, clusters of suites, or floors. Clients of plug-and-play offices enjoy access to five-star communal amenities, including bookable meeting rooms, breakout spaces, fully stocked kitchens, focus booths, cafes, wellness amenities such as gyms, and other shared facilities.

As flexible office spaces and workspaces are let by licence or flexible lease, occupying clients enjoy the agility to efficiently modify their footprint by downsizing or upsizing in line with changing business requirements. They can also extend or exit with relative ease compared to a leased space.

Flexible workspace and office rent is all-inclusive, covering broadband, heating, air conditioning, water, energy, professional cleaning, and other overheads that would be paid for and managed separately if leasing an office on conventional terms.

Additionally, premium office buildings in SE1 offering managed offices and serviced office space are managed sustainably and ESG-consciously. These provide end-of-journey facilities for self-powered commuters, including bike storage, showers, lockers, and EV chargers.

The SE1 postcode district covers a broad area and subsequently offers a diverse range of office buildings, including brand new Grade A office buildings delivering ultramodern Class A premium office space, such as The Shard, and period buildings that have been elegantly renovated and retrofitted to offer contemporary workspace solutions with exceptional infrastructure and first-class amenities.

SE1 is London’s South Eastern head postcode district and covers Bankside, Borough, Elephant and Castle, South Bank and Southwark, as well as parts of Bermondsey, Lambeth, Peckham, Vauxhall and Waterloo.

The broad and diverse region has a long tidal Thames frontage to the south of the river and is within Central London.

With a rich history, SE1 is today a vibrant cultural area offering venues such as Shakespeare’s Globe and the Tate Modern and diverse dining and shopping options.

It also offers excellent public transport services from stations, including London Bridge and Waterloo.