The cost of renting office space has grown exponentially in the last few years, nowhere more so than in London. Once affordable areas in the City fringe now command class A rental prices. The continued lack of available space is keeping prices at a record high, despite the potential drag of Brexit.
So why would you give up valuable office space to storage? A business always has items to store; excess furniture, spare IT equipment, Christmas decorations, events equipment and more. By storing these items in an office, a business is wasting money. The answer is managed storage.
What is managed storage?
Managed storage does what it says on the tin: the service takes care of all your items and where those items are kept. Everything you need to put into storage is picked up from your office, catalogued, taken away and kept safe and dry until you call back what you need at a day’s notice.
Before we delve into the money side, consider how much time managed storage can save. Items are collected and returned by dedicated delivery people. All items are photographed and added to an online inventory, which means locating an item takes seconds – no more rooting around at the back of a cupboard for that long-lost pop-up banner.
How much money does managed storage save?
Although prices vary across the city, the average cost of renting office space in London is £100/sq ft per year – this can be as high as £120/sq ft in some areas – which works out as £1.92/sq ft each week. By comparison, managed space costs just £0.26/sq ft.
By opting for managed storage instead of hanging on to currently unneeded items in house, a business can save on average 86.5% of property costs. This huge saving can make a real difference to a business’s bottom line, particularly in such an expensive city as London.
A business will also save property costs due to the flexible nature of managed storage: you only pay for the space you are using. Unlike office space or self-storage, where you usually take space for a specific amount of time whether you use it or not, you’re not paying for an empty bit of floorspace at any point. As your needs ebb and flo, so will the space you’re paying for.
Improve productivity in your office
Money aside, there are many reasons to free up space in your office. A business can use a property in much cleverer ways if unneeded items can be stored elsewhere.
For example, more businesses see the value in creating break-out spaces for employees, such as a decent-sized kitchen, a comfy seating area or even an area with a ping-pong table. This is becoming a real tool during recruitment and staff retention, as staff are naturally drawn to a spacious office that makes them feel comfortable.
In a world where prices seem to rise and rise, there’s every reason to save money where possible – and to improve everyone’s office experience while you’re at it.
Get in touch with the CAMA team to save money through an efficient, seamless solution.