Reading the space, not just the lease
Choosing a London office is rarely as simple as picking the nicest building within budget. The decision touches recruitment, culture, cost control and operational risk all at once, and getting one of those wrong can undo the benefit of getting the others right.
Location relative to talent, not just transport
Proximity to a tube station matters, but so does what a location signals to the people the business is trying to hire and retain. A fintech scale-up competing for talent against other tech firms needs a different postcode to a professional services firm targeting client-facing prestige. SHB’s sector pages reflect how differently location priorities play out across industries, because the “right” submarket genuinely depends on who a company is trying to attract.
The real cost, not the headline rent
Quoted rent is the smallest part of the story. Service charge, business rates, dilapidations exposure at lease end, and fit-out costs all sit on top of it, and a cheaper-looking building can end up more expensive once those are added in. Our business rates team routinely finds occupiers paying more than they need to simply because nobody checked the rateable value against comparable buildings nearby.
Flexibility to match how the business will actually change
Few businesses look the same at lease renewal as they did at signing. A five-year lease with no break clause and no expansion rights leaves a company boxed in if growth or contraction happens faster than forecast. Increasingly, occupiers are blending conventional leasehold space with flexible workspace to keep that optionality without losing the benefits of a longer-term base.
Building quality and compliance
EPC ratings, fire safety compliance, and the general condition of building services all affect both day-to-day running costs and future liability. A building that looks fine on a viewing can carry hidden dilapidations risk or upcoming compliance works that land on the occupier’s side of the lease. Independent building consultancy input before signing catches this early, when it’s still negotiable rather than a fait accompli.
Meeting rooms, amenity and how the space actually gets used
Desk count is the easiest thing to measure and often the least useful. How much meeting room capacity a team needs, whether shared amenity space is included or metered separately, and how collaborative or heads-down the working style is should all shape the brief before viewings start, not get retrofitted once a shortlist exists.
Getting these factors right at the outset avoids the more expensive fix later: renegotiating, subletting, or moving again before the lease term is even halfway through.
