Businesses seeking serviced offices could get better value for money from a longer lease, according to one expert.
Liz Peace, chief executive of the British Property Federation, said despite figures showing the average lease length has fallen from 5.9 years to five years from 2008/09 to 2009/10, variety is important to the market.
"Some larger businesses still want a long-term commitment to a building and if the lease is long they are likely to get a corker of a deal," she remarked.
Organisations looking for office space to rent could also gain from a short contract, Ms Peace continued, as smaller companies experience a fast pace of business change.
She added the introduction of shorter leases resulted in a greater number of firms being able to survive the recession.
Consequently, those seeking serviced offices may wish to consider their options carefully when deciding on a type of contract.
It was recently suggested by Michael Rhydderch, partner at Cushman and Wakefield, that commercial property rents are likely to rise in the short term.
