London is a promising business environment for established and upcoming firms alike. The Capital of the UK has one of the most significant economies in the world, so it comes as no surprise that postcodes around the city also come at significant prices. Factors such as location, availability, demand, type, size, and infrastructure within the office greatly affect where a particular serviced building will place on the price scale. Overall, the cost of a serviced office can range between £300 and £1000 + VAT per person per month.
Why rent an office in London?
London is known for its highly skilled talent pool and vibrant international culture. The city offers an excellent address, pro-innovation approach, and robust market infrastructure. The Capital holds 2nd place on FDI’s Global Cities of the Future 2021/2022 – ranking particularly well in the Human Capital and Lifestyle categories. Home to a number of the UK’s biggest firms such as HSBC, Barclays, Unilever, Starling Bank, and startups like Hopin or Revolute, the metropolia (together with New York) maintains a strong position as the world’s best city for startups, as noted by Global Startup Ecosystem Report 2021. A TechNation report from that same year also shows that from the global perspective, London comes fourth in terms of tech Venture Capital investment.
If you are looking for a new address for your business, read our useful guide for renting offices in London, or find out more about the various city areas and districts that could be perfect for your office.
London Serviced Office Prices
It can be expected that serviced, and flexible offices in the Wast End, Mayfair, and Soho areas will be notably more expensive compared to those in the East End and Docklands such as Whitechapel, Bermondsey, Deptford, Isle of Dogs, Greenwich, and Stratford. Below we present a list of prices of serviced offices per person per month for particular areas of London. The prices are an estimate based on data from 2020 and 2021:
Under £600 + VAT a month:
-Hackney approx. £350
-Camden approx. £450
-Waterloo and London Bridge approx. £500
-Old Street/Shoreditch approx. £500
-Islington approx. £550
-Euston approx. £550
£600 + VAT a month:
-Covent Garden approx. £600
-City of London approx. £600
-Canary Wharf approx. £600
-Marylebone approx. £600
Over £600 + VAT a month:
-Soho approx. £650
-Bloomsbury approx. £700
-Paddington approx. £700
-Victoria approx. £750
-Westminster approx. £800
-Hammersmith approx. £800
-Mayfair approx. £850
Rent a serviced office in London
Serviced offices are a fully equipped and ready-to-use office solution. This type of workspace carries a significant benefit as there is no need to worry about utility charges and day-to-day space management. All such costs are included in the monthly fee. Serviced offices also offer a lot of flexibility in the form of short-term lease agreements so that offices can be leased for a number of months instead of several years. Flexible leases prevent businesses from overpaying for extra space and allow companies to expand their office size as they grow.
From “hot desks” in open-space areas, through small private offices for up-and-coming startups, and dedicated offices for large teams and organizations, there is a lot to choose from on the London market.
Are you ready to rent an office?
Office to rent London
ShareSpace is an online platform that matches professionals with office space providers. From coworking spaces, serviced offices to traditional offices, the innovative platform streamlines and digitalizes the office search journey into an intuitive 5 step process reducing the complexity and cost of a traditional leasing process.
Find more helpful tips on our ShareSpace Blog, like our guide on how to calculate how much office space per employee you need, 6 tips on how to save money renting your next office, or 3 workspace models that will bring your team back to the office.
Have more questions? Contact our advisors or try our powerful search engine for yourself to find your next office in London with ShareSpace.
