A serviced office is managed by a facility management company and is also commonly known as business centres, managed offices or executive centres. A serviced office is usually fully equipped and is sub-divided into more than one individual office spaces. These individual office spaces are then rented to other companies.
Common facilities like reception, broadband access, telephone services, pantry, fax machines and copiers are usually shared among the tenants of the serviced office. Larger serviced offices will have meeting and conference rooms available to tenants for booking.
Serviced offices are attractive to start-ups and fast growing companies. This is because a serviced office offers immediate occupation and the flexibility for business expansion.