London Serviced Office Costs 2026: What Our Completed Deals Reveal

What Office Freedom's completed deals tell us about location, team size and contract length

If you're looking for an office for 20 people in London, choosing the right area can change your budget by thousands of pounds a month.

Rather than relying solely on advertised desk rates, Office Freedom analysed its completed London serviced office transactions from 2024 to 2026 to see what businesses are actually paying.

One of the clearest findings was the difference between locations. The median achieved workstation rate in Mayfair was around 93% higher than in Canary Wharf. For a 20-person team, using those achieved rates as a guide, that is a difference of roughly £6,500 a month, or around £77,500 over a year.

The data also challenged two common assumptions: bigger requirements do not necessarily get cheaper per person, and signing for longer does not automatically mean a lower starting monthly rate.

Does my 20-person team really need Mayfair?

For some businesses, the answer will be yes. The address, proximity to clients, quality of the buildings and the impression it creates can all justify paying more for a prime Mayfair address. But if a client’s location can be more flexible, the savings available by moving even a few hundred metres can be substantial.

In Office Freedom's completed deals data, Mayfair's median achieved workstation rate was around 93% higher than that of Canary Wharf. Mayfair was also around 27% higher than Liverpool Street.

For a 20-person requirement, those differences translate into meaningful monthly budgets:

These are illustrations based on the median workstation rate achieved in each area, not quotes for a particular office. The actual price will depend on the building, operator, specification, suite size and availability when you search.

The practical point is that it is worth deciding which parts of your location brief are essential and which are negotiable. If being in Mayfair is important, we can compare the options within Mayfair. If looking at nearby or alternative business districts can be an option, this can materially change the budget.

Surely I'll get a better rate if I take 30 desks?

Not necessarily. This was one of the more surprising findings in our transaction data.

The median achieved rate per workstation for 21 to 50 person serviced office requirements was around 24% higher than for requirements of 1 to 10 people.

That does not mean operators simply charge larger companies more. In our experience, the product tends to change as the team gets larger. A small company may be happy with a private office and shared facilities. A 20, 30 or 40 person business is more likely to want dedicated meeting rooms and internal offices, some internal breakout space, privacy, branding opportunities or to be located within a more self-contained part of the building.

That is why multiplying a cheap advertised desk rate by your headcount can give a misleading idea of the real budget.

Is a two year deal cheaper than a 12 month deal?

A longer commitment can improve the commercial package, but it cannot always be assumed that it will produce a cheaper starting rate.

Our completed serviced office deals did not show a simple pattern where longer contracts automatically meant a lower Year 1 price per workstation.

One of the benefits of a two-year agreement can instead be price certainty. If the rate is fixed for the full term, the client may keep the Year 1 price into Year 2 rather than facing an increase when a 12-month agreement comes up for renewal.

The right comparison therefore is not just the first monthly figure. It is the total commercial package across the period you expect to occupy the space.

What should I actually budget?

Start with four things: how many workstations you need, where you genuinely need to be, your total monthly budget and when you need to move.

For smaller serviced office requirements, a per workstation benchmark can provide a useful starting point. As requirements get larger, the layout and specification become increasingly important, so a tailored shortlist is more useful than a simple desk rate.

If your preferred area looks too expensive, that does not necessarily mean you need to compromise on the office itself. Sometimes changing the location slightly, comparing a wider range of operators or changing the way the requirement is structured can make a much bigger difference.

Why the first quote is rarely the whole story

Two offices described as being for the same number of people can be very different products. One may include dedicated meeting rooms and breakout space; another may rely heavily on shared facilities. One operator may quote an attractive headline rate but structure other parts of the package differently.

Before comparing quotes, check our guide to the hidden costs of serviced offices so you understand which services and additional charges may or may not be included.

Office Freedom compares suitable options from multiple workspace operators, helps clients create a shortlist, arranges viewings and negotiates the commercial terms of the chosen workspace. Our search and advisory service is free to occupiers.

Quick answers

How much does a serviced office cost in Mayfair?

Office Freedom's completed deal data from 2024 to 2026 shows that the median achieved workstation rate in Mayfair was around 93% higher than in Canary Wharf. The exact cost depends on the building, operator, office size and specification. Based on our data, the median achieved workstation rate in Mayfair was approximately £669 per month, although this can vary significantly depending on the building, office and specification

How much should I budget for a 20-person office in London?

It depends heavily on location. Using Office Freedom's achieved area rates as a guide, a 20-person serviced office could equate to roughly £6,900 a month in Canary Wharf compared with around £13,400 in Mayfair.

Do larger serviced offices get cheaper per person?

Not necessarily. In Office Freedom's completed transactions, 21 to 50 person requirements had a median achieved workstation rate around 24% higher than 1 to 10 person requirements.

Is it cheaper to sign for a serviced office for two years?

Not always at the start. A longer agreement can instead provide price certainty by fixing the commercial terms for longer and potentially avoiding an increase after the first 12 months.

About the data

Office Freedom analysed its completed London serviced office transactions with deal dates from January 2024 to August 2026. We used median achieved workstation rates rather than advertised asking prices and separated serviced office transactions from managed office deals.

The findings reflect Office Freedom's own completed transactions rather than every deal in the London market. Individual prices vary according to location, building, operator, specification, team size, contract structure and availability. The 20 person examples above are illustrative budgets calculated from achieved area workstation rates rather than quotes or medians of 20 person transactions.

Looking for an office in London?

Tell Office Freedom your team size, preferred locations, monthly budget and move date. We can compare suitable offices from multiple operators, create a shortlist, arrange viewings and negotiate the commercial terms.