What is the difference between managed and traditional office space in London?

A traditional London office lease typically locks a business into a fixed space for three to five years, with significant upfront costs including fit-out, rates and service charges on top of rent. Managed and flexible office space in London bundles all of those costs into a single monthly fee, with much shorter and more adaptable terms. For most growing businesses in 2026, 2027 and 2028, managed office space will offer a significantly better risk profile on 12-36 month agreements- particularly given how quickly headcount and working patterns can shift as AI changes how businesses operate.