Office Rental Belfast: A Cost Comparison

Office Rental in Belfast

This article, “Office Rental Belfast: A Cost Comparison” will look at the costs and virtues of virtual offices in Belfast and will compare them with the costs of the more traditional physical office. There are many things to consider when choosing the right location for your office.  Do you buy or rent office space?  Should you opt for a city centre location? How much of your turnover should you spend on premises.  What size of office should you choose?  Out of all these questions, location and price tend to be the most important.  Office rental in Belfast can range in price from £400 per month to £25000 per month. Yes £25000 per month for office rental Belfast!  However, there is a much cheaper alternative.  Lets Letterbox provide businesses, large or small with a cost effective virtual office space alternative at a very small fraction of some of those extraordinarily high monthly rents.

What Is a Virtual Office?

We had discussed virtual offices in a previous blog VIRTUAL OFFICE IN BELFAST    

Here we will outline the emergence of virtual offices over the most recent decades and compare the price with other office rental alternatives.  It goes without saying that technology has been the driving force behind virtual offices.  The World Wide Web was released globally in August 1991.  This in conjunction with the emergence of Skype provided the platform for businesses to work away from the traditional office.  With further advances in technology, communication had moved away from basic telephone interaction to first facsimile communication, and then on to the much faster and reliable email.  Many business owners realised that the expense involved in renting or owning a physical office was not totally necessary.  Business hubs started to pop up in all major capital cities globally as entrepreneurs realised that they could effectively “share” the costly overheads that owning or renting a physical office traditionally entailed.  The two main types of offices that emerged were

• virtual offices and
• co-working spaces

Virtual Office or Co-Working Space?

With co-working spaces the physical office is still required.  Consequently the cost to the business owner for office space in Belfast remains high. Like the traditional office the overhead expenses are still in play. These overhead costs for a traditional physical office or a co-working space are not an expense to think about with a virtual office.  The business owner effectively pays a low monthly fee for a virtual city centre office location without having to think about monthly expenses such as telephone, electricity or rates.

How Much Does a Virtual Office Cost?

With Lets Letterbox a virtual office in Belfast starts out at £15.95 per month.  How does that compare with the cost of a traditional office or a co-working space in Belfast?  Lets have a look

(Based on average office prices Sept 2022)                                       

The cost comparison above shows that a virtual office in Belfast from Lets Letterbox would cost just 6.38% of  co-working office space and would cost just a tiny £1.96% of a traditional physical office in Belfast.  Disclaimer: These figures are based on a very simple non scientific price comparison carried out by basic in-house internet. *(based on an average office space in Belfast Grade B  at  approximately 1200 sq feet Note: according to Grade B offices can be defined as follows

“Grade A Offices

Grade A offices refer to the category with the most superior quality;

• Usually located in prime locations
• The buildings are well maintained
• Some may be architectural landmarks
• Are often in buildings over 100,00 sq ft
• Provide excellent accessibility to transport and other facilities.

Another major benefit of Grade A offices is its attractiveness and its likeliness to appeal to an international market. These premises are generally occupied by high profile companies, including banks, law firms and investment banking organisations.

Grade B Offices

Rental costs for Grade B serviced offices will be lower, typically between around 25 – 40 per cent under Grade A offices. The standards of Grade B offices are fair / good quality but not considered to be the highest quality. They tend to be well located with high functionality, but likely to have less attractive infrastructures and designs. Grade B offices are often older than 10 years old and can be ex Grade A office caliber.”

A Virtual Office From Lets Letterbox

A virtual office from Lets Letterbox will provide

• A Registered Office which can be used with Companies House and HMRC
• A city centre location in Belfast to add prestige to existing and new businesses
• A dedicated mailing address and mailbox
• Mail Forwarding Services
• Mail Collection and Distribution Services (small items only, on request)
• A  remote office for your business that will help to separate your business and personal life

Virtual offices with a virtual office address here in Belfast provide the most economical and value for money alternative to expensive bricks and mortar physical offices.

We have a range of packages here to suit Limited Companies Limited Company Service , Food Business Operators Food Business Operators, and Sole Traders and Small Business Owners. Sole Traders and Small Business Owners.   In addition, we have an address service which will fulfil Companies House requirements for the Director of a Limited Company to have a service address where they can receive statutory mail. This can be accessed via this link Director Service Address

For further information or to sign up with Lets Letterbox for your own virtual office, please

CONTACT US TODAY

TEL 02896 001414        Email: info@letsletterbox.co.uk                www.letsletterbox.co.uk