Looking to occupy a new space can be daunting when there is so much information and many words being thrown around such as ‘Grade A’ or ‘Grade B’ but was exactly does Grade A/B mean?
There are several variables involved in an office’s classification, such as the age of the property, location, how the building has been maintained, access and parking, quantity and speed of elevators (if any), security and nearby amenities.
- Upper Class of Office Space
Everyone wants the best of the best and that is exactly what Grade A offices can offer, which is why Grade A offices are in such high demand right now.
The location of these offices is always located in the heart of the city and more often that not, are brand new developments or have gone/undergoing large renovations.
Another bonus is that typically the buildings are often high-rise ones which offer higher ceilings, more floor space, naturally lit and a manned front desk.
- Stylish Space with Cost Effective Prices
Grade B offices come at affordable prices for tenants as these are more often that not at least 30% cheaper than the Grade A category.
Unlike Grade A, these properties tend to be less central to the city, but this can always be a positive if you want to avoid the hustle and bustle of the city’s noises.
These properties would have usually started their life as a Grade A but downgraded through the years due to lack of upkeep/renovations from previous tenants or landlord.
How does the grade affect prices?
Below is a table which shows the current 2020 rent prices for London.