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10 Top Tips To Profit From Wasted Office Space.

Wasted Office Space  – Yes, You Can Monetise.

The office world is changing. Many people look at the wasted office space being repurposed as Covid drives staff to work from home. They look at their own workplace and realize that there is a lot of excess space that isn’t currently being utilized. In some cases, empty offices are being occupied by other groups occupying the same building.

These groups may not be using the space daily or continuously for the same time period that others in the building are occupying it.

Businesses are already capitalising on the flexibility of space and changing their usage patterns to suit today’s changes in working habits.

In this article, we will look at some inventive ways that companies can effectively repurpose and monetise wasted office space.

Private Event space

1) Private Events

Top of our list of using empty space is letting it out for private events. In the aftermath of the pandemic, many people are looking for clean spaces to meet up and organize private events. From book clubs to birthday parties, weddings, and baby showers, your vacant office could be the key to helping people gather and celebrate safely.  

After all, many offices have been used in the past to host large staff Xmas parties so why not let other companies rent that facility from you?

 

2. Professional training

wasted office space

The office may be empty, but the meeting rooms are full of potential. Turn your office into a statement about your company’s culture and philosophy.

For example, corporations might want to host workshops on sales techniques, and non-profits may need high-tech offices to facilitate global remote meetings.

For example, corporations might want to host workshops on sales techniques, and non-profits may need high-tech offices to facilitate global remote meetings.

 

3. Create a Pop-Up Store in wasted office space

We see pop-ups all over, often on our deserted high streets.  An empty restaurant site turns into a cashmere sweater outlet or a soft toy warehouse.  Well, you can do the same with empty office space especially if it is conveniently located.

Vendors of oriental rugs often do short term pop-ups for clearing containers of stock from bonded warehouses.

 

4) A Photo or Film Studio.

using wasted office space

If you have empty space and good lighting then it could be tempting for photographers to use as a studio,  If it is smart and cutting edge then maybe a film production company would want to rent it for a film shoot.  there are location scouts in London you can discuss this with. amazingspace /is such a company.

As they say,

‘Amazing Space is a location agency that specialises in providing the most dynamic, beautiful and film-friendly locations, both in London and across the UK. We have over 25 years providing great locations for feature films, TV dramas, commercials, music videos and fashion shoots.’

 

5) Happy Hours

Landlords can host happy hours for their tenants where employees can gather in the break room and share a few craft beers after work. Or they can offer tenants the opportunity to use the space to host their own happy hours.

For example, The Colonnade and Towers at West End, which CBRE manages in the Twin Cities, recently underwent improvements to its outdoor courtyard patio and tenants can use the space after business hours.

6) Open a Movie House.

Landlords can invest in a projector and screen to play movies in the evenings or on weekends in common areas of their buildings like the courtyard or lobby. It could be a tenant and community movie fest.

 

7) Host Meet-Up Groups.

Meetups are gaining popularity as they help people find and join groups with others with similar interests, like politics, books, careers or hobbies. After-hour conference rooms and workspaces can provide inexpensive space for you to meet. Making good use of wasted office space.

 

8) Yoga/Zumba Venues

Savvy landlords have started renting out empty office space to fitnes instructors and Yoga groups. Brett Greenfield, from Colliers Intl  says  “It really costs the landlord nothing to let them use the vacant space and it creates goodwill with the tenants.”

9) Music rehearsal Studio.

wasted office space

Put up some acoustic wall covering and heat up the vibe in the evening fro bands to rehearse for their gigs.

 

10) Exchange Vows in the Boardroom

Yes, some landlords are using empty space to create wedding venues.  Office towers with beautiful views and/or fancy lobbies make great venues to get married.

conclusion

We hope you enjoy our blog on Clever ideas to monetise your unused office space. We understand that the office space is needed for business but unfortunately, this means that a lot of space in the office is frequently unused and this unused space can be a great way to earn extra money. We hope you find our blog helpful and you can do something creative with your office space. we are always excited when one of our posts is able to provide useful information on a topic like this!  Remember if you find that renting wasted space a crazy waste of your money in our ‘new normal’ then come and talk to us here at Hold Everything about moving to a virtual office in LOndon.