Glossary of Workspace Terms

• Managed office: A self-contained office floor or suite, fitted out and run by an operator on a single all-inclusive monthly fee.
• Serviced office: A private, fully fitted office inside a building run by a workspace operator, with shared amenities and an all-inclusive monthly fee.
• Private office: A lockable, self-contained office reserved for one company, inside either a serviced building or a hosted private space.
• Flexible workspace: Any workspace let on flexible terms — usually a monthly licence rather than a multi-year lease.
• Coworking: Shared workspace where members access desks, meeting rooms and amenities in an open, communal environment.
• Hot desk: Any free desk in a coworking space, available on a first-come, first-served basis.
• Dedicated desk: A fixed desk in a coworking space reserved for one person.
• Licence agreement: A flexible contract granting permission to occupy workspace, without creating a legal interest in the property.
• Lease: A legal interest in a property granting exclusive occupation for a fixed term, usually 3–10 years for offices.
• Rent-free period: A period at the start of a lease during which the tenant pays no rent — typically used to compensate for fit-out time.
• CAT A: A base-build office fit-out delivered by the landlord — finished but unfurnished and unbranded.
• CAT B: The tenant-driven fit-out that turns a CAT A shell into a fully usable, branded office.
• All-inclusive office rent: A single monthly fee covering rent, rates, utilities, cleaning, fit-out and other running costs.
• BREEAM: A widely used sustainability rating for buildings — Pass, Good, Very Good, Excellent or Outstanding.
• Office fit-out: The work of converting a shell or CAT A space into a usable office — including design, partitions, furniture, IT and branding.