Coworking Spaces vs. Traditional Offices: Which Is Right for You?

Whether you’re a freelancer seeking a creative community, a small business looking for flexibility, or a company considering long-term stability, choosing the right work environment is a decision not to be taken lightly. Are you seeking the convenience of a community-first coworking space? Or a more traditional office space in the city? This article evaluates which work environment best suits your needs, budgets, and goals. 

Why choose a coworking space

The coworking model has firmly entered the mainstream, driven by the rise of hybrid working, a shift toward greater flexibility, and the growing demand for autonomy in how and where we work. Coworking spaces typically provide:

• Shared workspace: an open plan area with amenities, such as phone booths, meeting rooms, and kitchen facilities. Some coworking spaces have wellness facilities, gardens, and rooftops, while others provide more niche resources, for example, maker spaces with industrial equipment and machines.
• Flexible membership options: ranging from hot desks, dedicated desks, day passes, and private offices. 
• Business services: super-fast WiFi, access to printing, mail handling, and a professional business address.
• Community-first approach: tailored events to their community needs, organising events for professional and personal development, often organised by the community manager who supports members. 

Flexible memberships

Coworking is for you if you’re a freelancer, solopreneur, or business owner seeking a low-cost office space to switch up your work routine. With a range of coworking options available, including hot desking, dedicated desks, and private offices, the flexibility of coworking memberships is a main differentiator from leasing a traditional office space. 

From enabling ad-hoc coworking on day passes to rolling month-by-month coworking memberships, you can experience coworking in many ways without a full-blown commitment, even flexing up and down between different membership tiers.

However, joining a workspace will likely give you greater access to perks, including events, discounts on bookable amenities (like meeting rooms and podcast studios), and a registered business address with mail handling. 

The cost of coworking

Budget is a key factor when choosing a workspace. Fortunately, the wide variety of coworking spaces available means there’s an option for nearly every price point. In February of this year, the average UK open workspace membership cost £156, while a dedicated desk was priced at £210. London is, unsurprisingly, the UK’s most expensive place for coworking memberships. 

But while coworking isn’t free, the cost of coworking can be viewed like a subscription, as coworking memberships are typically charged on a monthly rolling basis, rather than a huge upfront cost or tying you into long leases. This flexibility can significantly enable you to make business decisions around what you need now, rather than making a costly, long-term decision. 

Community is the key

So, what’s the biggest reason you should join a coworking space? It’s the community. The coworking model came out of a desire to create more than just a place to work – that social interaction and community ought to be part of the work experience. By prioritising community, the coworking model also addresses global issues, like the loneliness epidemic, affecting about 79% of white-collar workers in the US. 

In a coworking space, you’re surrounded by like-minded professionals, opportunities for networking, and a curated environment that encourages both productivity and personal growth. From city central bases and spaces across a coworking brand to local, independent neighbourhood workspaces and rural hubs, the many forms of coworking fit different needs.

For instance, working near home can ease the school runs and commitments for parents and caregivers. Thanks to its social nature, the possibilities in coworking are endless – you might meet your next-door neighbour, make a new friend (including furry pals, as many workspaces are dog-friendly), or attract a new client. 

Why choose a traditional office 

Despite all the excitement around coworking, there is still a place for the traditional office, which offers a more expansive and exclusive workspace. Traditional offices typically provide the following:

• Premium workspace: installed with top-of-the-range office furniture, office equipment, printing facilities, and incredibly fast, secure WiFi. 
• Amenities: meeting rooms, phone booths, collaboration and breakout spaces are usually included in the lease, and aren’t full of coworkers. Additional amenities might include car parking, wellness and fitness amenities, F&B, washrooms, and bike storage.  
• Privacy and security: essential for industries handling sensitive information, such as finance, healthcare, and law, offices are equipped to meet the stringent privacy and functionality requirements of these sectors.

Traditional office lease types

Unlike the flexible coworking membership model, common traditional office lease terms are longer, locking you in for years, rather than weeks. In July last year, the average office lease length had increased to 3.7 years, after lease terms had reduced slightly after the pandemic. If you’re running a growing business, fixing your office lease makes sense to avoid future pricing hikes.

How much does a traditional office cost? 

The cost of an office space varies depending on factors such as location and building quality. For example, a Grade A office space in Mayfair currently rents over £150 per square foot, while a Grade B office in less central locations rents between £70 and £103 per square foot. 

Benefits of leasing traditional office spaces

While coworking spaces typically provide a single desk or shared workspace within a communal environment, traditional offices deliver dedicated floors or entire suites designed specifically for a single company. This makes traditional offices much more suitable for larger businesses and corporations. 

Leasing an office space gives you complete control over its layout, privacy, and functionality. From customising the office in your corporate branding to implementing security measures that align with your business’s specific requirements, a traditional office caters to your organisation’s unique needs.

Where will you work?

Choosing a work environment is a deeply personal decision, influenced by your professional needs, budget, work style, and goals. While freelancers, remote workers, and startup teams typically thrive in coworking spaces, thanks to the social atmosphere and flexible membership types, larger corporations are much better suited to a traditional office, providing privacy, exclusivity, and the stability needed to handle sensitive information.

Choosing a work environment ultimately comes down to what aligns best with your vision for productivity, collaboration, and growth. The key is finding a space that empowers you to do your best work.