More Case Studies...
Dubai is strategically located on the world map that connects the growing gold and precious metal trade flows to and from the Indian subcontinent, South East Asia, Europe and Africa. More than 25% of the world’s physical god passed through Dubai, which is around $70 Billion in gold trading alone.
One of our clients, John, called the office on Wednesday 27th February at 3.10pm saying that he urgently needed a Tax Residency Certificate and that he needed it on that day as he was flying out of the UAE on the same date.
Long Term Lease vs Serviced Offices
How do you really need to work? When starting a new venture, there is a great temptation to jump straight in and acquire the space you anticipate requiring. However, it is no longer necessary to over commit on office space in the early stages of a start-up organisation.
UK Multi Media Company
Transition from 15 leased locations to 3 regional offices and on demand space. This household name within the UK market had grown significantly over the previous 5 years through acquisitions and organically.
This growth had seen the UK team grow to 500 members of staff accommodated through 15 locations spread across the UK.
Office locations were not in areas close to customers or employee homes.
As with many mergers and acquisitions, the resulting office locations were not in areas close to customers or employee homes. These factors combined with a team where the majority were customer facing, resulted in offices experiencing very low occupancy. Sometimes as low as 25%.
As the annual cost of running the existing portfolio was circa £2m pa, an initiative commenced to establish a more efficient and cost effective way of working.
Following in depth analysis of utilisation and employee location the need was identified for three offices of ten desks each in Leeds, Reading and London. Whilst there would be very few team members permanently based at these locations, sufficient adhoc usage was identified to justify an office location. Serviced offices were selected for this solution, over a 12 month term, with a national operator. This allowed the added flexibility to change the size of office or even move if the team dynamics changed.
Clearly three offices of ten desks only accommodated a small percentage of the UK team, working geographies close to these locations. The remaining majority worked across the UK, however they also needed the ability to work and meet in a professional environment.
The solution developed to support these team members, was an on-demand membership scheme with the same operator providing the serviced offices. Team members were provided with access to business lounges as they required, with the added benefit of booking offices and meeting rooms when required by the hour or the day. This allowed complete flexibility to work in whichever town they were visiting.
This allowed complete flexibility to work in whichever town they were visiting.
Through the adoption of this flexible workspace strategy a number of key benefits were achieved.
- A reduction in annual costs of £1.2m
- Reduced real estate administration resource
- Increased team productivity working near customers
- Increased work life balance through reduced commuting
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There are many flexible workspace solutions available in the market today. Offices iQ take the time to fully understand your situation, and develop the best combination of solutions to meet your needs.