A guide to office space in London
London is the European Union’s largest metropolitan area and was recently voted the world’s most-visited city. It's also one of the global economy’s three command centres (with Tokyo and New York), making the city a popular business centre for both local and foreign-owned firms. London was one of the first European cities to make the shift towards a largely service-based economy. Major players in the London economy include companies from the financial sector, professional services and media distributors.
The location
The capital of the United Kingdom, with a metropolitan area of over 13 million inhabitants.
Standing on the River Thames, London has been a major settlement for two millennia, its history going back to its founding by the Romans, who called it Londinium.
Neighbouring areas - price comparisons, per person per month
| Below are the prices of serviced offices given on a per person per month basis in the city, and are based on a minimum to maximum average, derived from our Sales Team's knowledge. |
| Area | Indicative price range |
|---|---|
| City of London | £650 – 1400 |
| Mayfair | £900 – 2000 |
| Soho | £700 – 900 |
| Kings Cross & Euston | £700 – 900 |
| Oxford Circus | £650 – 850 |
| Hammersmith | £550 – 650 |
| Lambeth & Waterloo | £450 – 650 |
| Shoreditch | £400 – 650 |
Looking for an office in London
When choosing an office space in London, business owners will look for an address that helps them make the right connections and attract the correct clientèle.
Those in the more established sectors, such as law firms and finance, will require an office space in the more traditional commercial areas of London at a distinguished address that reflects their position.
However, London is fast becoming home to a more diverse mix of emerging businesses, and those in more creative industries, such as advertising and fashion, prefer the excitement of London’s newer and fast-growing business hubs.
These areas typically boast a mix of creative companies collaborating in coworking spaces, and a growing number of online media and social media ventures.
In these parts of the city, there is also a rich variety of unique office buildings with plenty of character; ideal spaces for growing creative companies.
In today’s unpredictable economy, it may be difficult for London business owners to predict whether their companies will be expanding or downsizing, which makes being tied down to a long-term lease a risky commitment.
Flexible office solutions give these businesses the freedom to upsize or downsize according to their needs, within an existing contract.
This means that businesses on a budget of any size can enjoy the prestige of London office space.
Instant offices offer a great variety of office type and size, and are able to accommodate most enquiries, from one person through to 100 people or more depending on the specifics.
Serviced office providers can be flexible with the layout of the workspace, and are happy to discuss partitioning to fit a particular requirement.
Why choose London?
- One of the world's leading financial centres
- Stable regulatory system
- Excellent land, sea and air links
- World class universities
- Stable regulatory system
- A world cultural capital
Popular Coworking spaces in London
A closer look at London
These are the most popular areas in which to rent office space:
The City
- The financial hub of London, also known as the Square Mile
- Home to many large global companies including around 500 banks which have office space in the City of London
Westminster
- Various large global corporations have their headquarters in Westminster, with many hedge funds and private equity funds established in areas like Mayfair
- Meanwhile, the West End attracts top performing arts businesses, media companies gravitate towards Soho and hundreds of retailers (local, national and global) have set up shop in the Oxford Street area
- Westminster is also the major Government department district
Canary Wharf
- In recent years the Docklands area of East London has grown to become a thriving centre for international finance and is now home to some of the UK’s tallest and most spacious office buildings
- Barclays, HSBC, Citigroup and KPMG are just a few of the businesses head-quartered in Canary Wharf
Camden & Islington
- In recent years, inner city areas have become desirable business districts
- They’re home to numerous businesses in the sectors of accountancy, business development, financial services, publishing, printing and digital services
- Islington has a famous arts theatre, and many smart restaurants, cafés, bars, and delicatessens
Shoreditch & Old Street
- Also referred to as Silicon Roundabout, this previously neglected area of London just north of the City (which used to specialise in printing), is now home to several hundred IT firms and start-ups
- Due to the fast changing nature of the area, the variety of office space ranges from historical buildings to purpose-built small business environments
Lambeth & Southwark
- Business hubs in South East London
- The transport links in the area (Waterloo Station in Lambeth and London Bridge Station in Southwark) make it popular and convenient, attracting a mixture of business services, construction companies, wholesale and retail businesses and hotels
For more information on the current state of the UK serviced office market check out our UK Flexible Workspace Review 2016.
Want to find out more?
If you’re looking to move into the area, or simply require more information, contact Instant Offices' specialist local consultants.
Email our team or call us and we'll be delighted to help you.