Whether you are a business owner, freelancer, or entrepreneur looking for an office to rent in London, UK, there are plenty of options to choose from. Widely regarded as the top coworking hub of the world alongside New York, the Capital presents a rich landscape of serviced offices dedicated to coworking.
What’s more, you will find that excellent quality and great price go hand in hand in most coworking spaces in London.
In 2019, shared (or coworking) workspaces in London were expanding at an annual rate of 20%. Despite the challenges brought about by the Covid-19 pandemic and related lockdowns, coworking opportunities in the capital of the UK remain as attractive as ever. (If you would like to find out more, read our guide for renting your office in London for some useful tips on how to get started.)
Coworking Spaces in London
Here are the top 8 benefits working from coworking spaces in London can bring you:
1. A professional address
London is widely considered the epicenter of financial, communication, and insurance industries. It is also home to countless startups. Basing your office in the Capital means positioning your business among some of the best in your industry. Coworking spaces in London are simply a great way to give your business a prestigious address in areas such as Canary Wharf, Westminster, Mayfair, Covent Garden, or SoHo.
If you are deciding what district to rent your coworking space in don’t miss our helpful guides – 11 Districts in London perfect for your new office location and 5 Areas in London to find your next office.
2. Increased Productivity
In the wake of the Covid-19 pandemic, the lockdown-spurred necessity to work remotely proved to us just how much our environment influences productivity. At the same time, it is not always necessary or cost-effective to rent an entire private office. Perhaps you are a London-based freelancer tired of working from random cafes or your home office and looking for a single workstation? Maybe you’re part of a startup that wants to work in the company of other innovative and like-minded people? Or maybe still you are the CEO of a large company exploring hybrid office solutions and wanting to provide a productivity-boosting coworking environment for your staff in London? Whether you said yes to one of these three options or your scenario fits somewhere in between, coworking spaces are an effective and motivating work environment.
Need proof? Global Coworking Survey gathered the opinions of 1500 people across 52 countries and found that 75% of surveyed reported an increase in productivity thanks to coworking. 64% of those sharing an office with a coworker claimed to have improved on completing their tasks on time, and 68% said they are better focused. The professional work environment encourages a focused and motivated mindset and helps you and your staff reach your productivity targets.
3. Cost-saving
One of the most significant advantages of coworking spaces is the money-saving aspect. For some, private offices can be too much of a costly experience to start with, especially in the case of freelancers and smaller businesses. Prices of rent of coworking spaces in London, office furniture, electricity, wifi, decorations, and basic kitchenette facilities are only a few of the spendings that come to mind. Still, many hidden costs can pile up in the day-to-day upkeep of the office. It is good to know that this significant upfront expense is not an essential price to pay for those who no longer see themselves working from their home office.
Renting a coworking desk or office in London means you won’t overpay or pay for space you don’t use. This workspace solution allows for cost efficiency and fosters the “pay-as-you-grow” approach. Companies get to increase their office size or the number of workstations in line with staff and business expansion as opposed to forecasts and long-term commitment to offices that could turn out to be too big or small.
Wondering what renting a coworking space in London could cost your business? Find out more by reading about Prices of Serviced Offices in London.
4. Network & collaboration opportunities
The value of boosting an individual’s sense of belonging and the feeling of being part of a community with the common goal of successfully evolving in business and personal career should not be taken for granted.
Based on a study carried out by Emergent Research and GCUC, Harvard Business Review reported that 79% of those surveyed found that working from coworking spaces expanded their social network, 83% claimed to be less lonely, and 89% said they are happier since joining a coworking space.
By choosing to work from a coworking space in London, you will position yourself at the epicenter of creative thinking, brainstorming, and problem-solving. There is also a high probability that someone around you has solved the problem you are now working out or has the skills and insight you are looking for. This means many collaborative opportunities are always within reach.
5. Community events
Coworking offices offer much more than just a space to work. They can also help you grow and learn new skills. Many coworking spaces in London host community events such as talks or workshops that can further help you gain more knowledge and expertise in areas like management, personal growth, well-being, and more. Besides the self-development opportunities, attending events organized by your coworking space is a great chance to get to know members of your office community who may share a common interest with you.
6. Work-life balance
As already mentioned, due to the pandemic and lockdowns, many people were forced to work from their kitchen tables and living rooms. At first, this home office environment seemed new, different – in some cases even convenient, eliminating the commute and saving time. It didn’t take long, though, to realize that the lack of a separate space dedicated to work meant the boundary between work and private life began to blur and disappear. Remote workers could no longer “leave” their office or distance themselves from their professional responsibilities even after work hours while the work laptop remained within their line of sight.
Choosing a coworking space instead of working from home can allow you to block out the time you want to work, bringing structure to your day and allowing you to build a routine. Your living room will no longer remind you of your office but will feel like home again while enabling you to enjoy a healthy work-life balance.
7. Flexibility
Many coworking spaces in London offer members 24/7 access to their premises. This is especially beneficial for professionals whose timetables do not revolve around the usual 9-5 office hours. Companies based in the capital of the UK working across different time zones will similarly benefit from the limitless access to their workspace. What’s more, several major coworking office providers, such as WeWork, offer their members office access that extends beyond just one building. A membership card will allow you to work from offices of that branch located in other parts of London or other cities. This is a big benefit for digital nomads or those who regularly go on business trips.
Best of all, coworking spaces offer flexible lease contracts, which means you can remain flexible without long-term lease agreements or commitments.
8. Convenience
Serviced offices give entrepreneurs, startups, and established companies alike an opportunity to work in a fully equipped office that provides all essentials from wifi to printing services to complimentary beverages.
Numerous coworking spaces in London offer a variety of work areas that support different working styles. Deep focus areas, brainstorming spaces, phone booths, open-floor office spaces are all there to cater to staff needs. If you are a client-focused business, coworking spaces usually make it possible to book an additional meeting or conference room as required. Having access to a private office when connecting with clients or business partners is a valuable resource to take advantage of.
Front desks and community managers are available to help with arriving business mail, registering a business address, or taking care of anything that needs fixing around the place, from a printer to a broken coffee machine. Choosing a coworking office eliminates the additional responsibility and expenses of managing an office, a convenient solution for those looking to rent an office in London.
Office to rent London
Are you looking to rent an office in London? Whether you are looking for a 9-5 / 5 days a week office or a professional place to work from a couple of times a week, your expectations can be met by the flexible and cost-saving solutions offered by coworking offices found all across London coworking space market!
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.
ShareSpace is an online platform that matches professionals with office space providers. 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 experience.
Have more questions? Contact our advisors or try our powerful search engine for yourself to find your next office in London with ShareSpace.
