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Serviced Office Space to Rent in London
Serviced office space in London
With a population of c.9M people and covering an area of 607 square miles, London is one of the world’s most important cities and has countless attractions for UK and international business. With over 1 Million businesses calling London their home, the city is pioneering the flexible workspace revolution with more than 1,500 serviced offices across the capital and 900 serviced offices within Central London.
The volume and variety of workspaces available in London means there is sure to be an office to suit all business types and budgets. To start the search for the perfect office space for your business, get in touch with our team today.
Why Choose London?
Let’s look at six key reasons why so many businesses choose to make London their home.
- World-class talent – Access a talented and diverse workforce of more than 4 million people with a vast skillset. Work in a business community that includes 46,000 tech companies supporting 240,000 jobs and over 800,000 creatives working alongside some of the world’s best professional services firms.
- No.1 for Head Quarters - London attracts more European Head Quarters than any other city and conveniently straddles European, Asian and US time zones.
- A great place to do business - Enjoy the many advantages that make London the easiest city in Europe in which to do business. Benefit from flexible employment law and low-cost legal structures, entrepreneurs’ visas and tax benefits.
- Accessibility – The capital gives you access to more than 8 million Londoners and its extensive transport links means that you can access London easily by road, rail, underground, air and the river. London is Europe’s most accessible city.
- History, culture and entertainment – Few cities can rival London’s rich history, its varied culture, nightlife and raft of entertainment options. The city draws businesses and people to its many attractions like no other.
- Choice of office space – Greater London has over 26 Million M2 of office space. With so many locations and types of office space for organisations of every size, London businesses are truly spoilt for choice.
A quick guide to office space in the main Central London boroughs
City of London
Also known as “The Square Mile”, the City sits on the site of what was Medieval London. Firmly established as the nation’s financial centre, the City is a mix of the traditional and modern. A vast array of serviced offices nestle amongst famous landmarks such as St. Paul’s Cathedral, Monument, Guildhall and Tower Bridge.
It’s one of the UK’s smallest boroughs but it is densely populated, and hosts over a million commuters and tourists each day. Westminster is known the world over for Big Ben and the Palace of Westminster, but the borough is also home to the National Portrait Gallery, the Tate Britain, and the London Transport Museum. Soho and The West End are Westminster’s cultural hotspots that attract millions of visitors every year.
Best known for its colourful streets, buzzing markets and live music venues, the borough of Camden stretches from Highgate in the north, to Holborn and Covent Garden in the south and from Fortune Green in the west to Kings Cross in the east.
Camden’s association with alternative culture is long established but it has become a prime office location for businesses in media and technology industries thanks to its excellent connections.
Lambeth is well connected and well networked. It has a skilled and creative workforce ready for growth. Lambeth’s major business sectors include the creative and digital industries, professional and financial services, life sciences and healthcare and hospitality and tourism. Major employers such as IBM, National Theatre, The South Bank Centre and Shell UK all have offices here.
The historical home of London’s thriving arts and entertainment industry, Southwark borders the Southbank of the River Thames. Home to Shakespeare’s Globe Theatre and the neighbouring Tate Modern, Southwark embraces City Hall and extends through Bankside, Borough Market, to Bermondsey, Camberwell and Peckham.
Stretching from Farringdon to Highgate, Islington offers an eclectic mix of commercial offices, antique markets, retro cinemas, farmers markets, and riverside walks. Businesses and their staff have easy access to the city centre but also can enjoy the hidden treasures such as Camden Passage (a pedestrian-only busy side street) Screen on the Green, and the Hen & Chickens Theatre Bar.
Kensington & Chelsea
One of London’s most affluent boroughs, Kensington and Chelsea is synonymous with sophisticated style and elegance. Home to Harrods, designer brands, and independent boutiques, it’s peppered with high quality office space and desirable eateries for wining and dining.
The area also hosts many of the city’s European embassies. Retail opportunities abound on the King’s Road, Knightsbridge and Kensington High Street.
Types of offices to rent in London
Serviced office space in London comes in all shapes and sizes and we have all the options covered here. Most office operators offer simple all-inclusive pricing, have properties ready to move in and offer short term rentals.
Virtual Offices - If you opt for a virtual office, you’ll receive admin support, call handling and online services, and a physical London business address - but without the overheads of office rental.
Hot Desks - Hotdesking is becoming increasingly popular and means that you can access a workstation in a fully serviced office as and when you need it. There are options to pay hourly, daily, weekly, or monthly. This means you can get flexible access to some of London’s best offices at a fraction of the leasing cost.
Serviced offices and coworking – The majority of SMEs looking for flexible workspace choose a serviced office for their needs. These can be private offices with access to shared facilities, or coworking spaces where the emphasis is on collaboration.
Membership Packages – Many serviced office operators now offer membership packages giving you access to all of their offices. This is great for those who move around and need to work in different locations. Membership packages are usually available on demand or via subscription.
Managed offices – A managed office is another flexible alternative where you can create a bespoke office environment to your exact requirements, but all services, facilities and maintenance are provided and managed by an operator.
Flexible leases – If you are seeking a conventional office space where you control all the aspects of the design, build and fit-out, we can help you secure space on flexible terms, whereby you are not saddled with the onerous long-term commitments of a traditional office lease.
Offices with all the amenities you’ll ever need
Modern serviced offices in London are some of the most attractive, convenient, and affordable offices available today. With flexibility at their core, businesses love the ability to expand or contract workspace as required, the opportunity to rent short term, and the simple all-inclusive pricing model.
Few workspaces can match the range of amenities offered by modern serviced offices. Ergonomic designs, high level fit outs, focussed and collaborative spaces, outdoor terraces and relaxing breakout space are commonplace. Add to that a list of amenities that includes event space, meeting rooms, fast internet, privacy phone booths, gyms, bike storage, showers, kitchens, cafes, wellness programmes, 24/7 access and concierge teams, and you’ll be amazed at the range of facilities available. You can even bring your pet dog too.
Serviced Offices for Fintech companies
In London, technology is combining with the finance and property sectors to establish a fintech success story. Forbes called London the “fintech capital of Europe”.
Tech City and Old Street are obvious locations to find fintech businesses, where a pool of tech talent meets the financial heart of the City. For growing businesses it’s the perfect location to rub shoulders with financial heavyweights and potential investors.
Offices in SE1 and the Southbank also host more than their fair share of fintech companies who enjoy slightly lower rents than those in the City, along with attractive riverside locations.
Canary Wharf is home to financial giants like HSBC, Barclays and CitiGroup and more than 140 recently launched fintech start-ups have based themselves there.
Serviced Offices for Proptech companies
The proptech sector has taken hold in EC1 and established property companies have looked towards the Old Street Tech City area to tap into new talent and keep ahead of latest trends. Clerkenwell, Mansion House and Barbican have lots of serviced office space ideal for proptech companies, and Kings Cross and Shoreditch are popular locations for the London tech community.
Serviced Offices for Creative companies
Whilst Soho and the West End have a long-established reputation as London’s creative and entertainment hub, the digital revolution has seen creative talent spread to other parts of the city.
Serviced offices in Shoreditch are home to some of London’s top creatives, with warehouse style chic offices attracting many companies to the Brick Lane area. Although office rents have increased in City fringe locations like Shoreditch and Clerkenwell, they are still on average 10% cheaper than the City core.
Large agencies such as Omnicom and WPP have relocated to the Southbank and enjoy easy access to The Tate Modern, The National Theatre and all the culinary delights of the Southbank.
The average cost of serviced offices in London
London has always been the city of choice for businesses looking to expand their commercial empire, but with such a wide diversity of price points on offer, understanding exactly how much you should be paying can be a challenge.
With this in mind, we have put together a pricing guide for office spaces situated in virtually every area of the capital. The prices quoted are based on those secured by Office Freedom, not advertised headline rates. Please remember these are “average” prices, so there will be lots of offices that cost less or more than the average. If you have a fixed budget in mind, then we can show you all the options within your price range, just get in touch with one of our consultants today.
How do serviced office prices across Central London compare?
Serviced office prices are usually expressed as a price per desk per month. Office prices in London fell by an average of 19% from 2020 to 2021. Falling desk rates in London have presented a fantastic opportunity for businesses of all types and sizes to acquire a prestigious London office at a much more affordable rate.
The average cost of a desk in a serviced office in 2021 in Central London was £469. The three most affordable locations were Chiswick, Camden and White City respectively. Average desk rates here were less than £300 per month, with offices in Chiswick available from as little as £167 per month!
Westminster, Kings Cross/Euston and Kensington/Notting Hill were at the top end of the price range and desk rates here were over £600 on average. Office space in prestigious Kensington and Notting Hill is highly desirable and commanded the highest rate on average, £683 per desk.
The table below shows the average serviced office desk rates by London area, based on Office Freedom transactions for Jan-Sep 2021.
Why Choose Office Freedom?
With decades of experience in securing businesses their perfect London office, we are confident we can help you do the same. Our experts handle everything from office search, arranging viewings and shortlisting the best options, right through to negotiating great terms and providing you support and reassurance on the all-important move-in day. We act as the single point of contact for all your London office needs.
Don’t delay, let Office Freedom help you find an office space in London today.