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Everything you want to know about Hybrid Office Sharing

Turn empty office space into revenue

"We wanted to remain in our office and so finding another organisation to share with us has been the perfect solution."

Rebecca Ross, World Child Cancer

The average office in 2023 will be ¾ empty across the working week. London businesses alone are spending over £21bn each year on empty desk space. Renting out your space for just 2 days each week can halve your total office costs. Here is how…

Do you have the right type of office?

To convert to Hybrid, you will need a conventional office with a traditional lease directly with a landlord. Ideally, you will need at least 1000sqft of office space and either have 15mths left on your lease or be prepared to extend your lease if we find a partner for you. You space must be well kept and clean.

If you are paying one monthly all in cost with a flexible workspace provider, it is still possible to share your office with another business, but we would have to arrange that directly with your provider. You can email us on info@space32.com if that applies to you.

How much revenue can you generate?

The average full-time monthly desk rate in London is around £500, higher in certain regions like The City or Soho, lower as you move out of Zone 1. You can often charge around 20% more than that for part-time space. So as a rough guide, if you are looking at 2 empty office days in Zone 1, expect an average of between £2,500 and £3,000 a year for each desk you have.

The total cost of preparing your office should not be more than 5% of your total year 1 revenue and you don't have to commit to that cost until a partner is found.

Basic Preparations

Switching to hybrid is a great excuse to `declutter` the office and adopt a clear desk policy. Trust us, you'll never go back once you switch! The majority of your team will need to work from laptops and if you don't already provide screen on desks, we recommend you do so for at least some desks.

Finding a partner and completing the process

Once you know the number of days you have spare, you can list your space on our site. It is not worth getting landlord permission until you've found an occupier and as long as you use our process, we are confident of success. When a match is found, you can use our standard templates to help you agree housekeeping rules with your new partner and you can use our standardised Hybrid Office Sharing Agreement for peace of mind. We have a standard template for requesting permission from your landlord and we support you throughout that process. You can also use our checklists to guide you through the final stages of preparation.

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