How much does serviced office desk space cost across London?
We have created our first ‘Serviced Office Submarkets’ research - an inaugural map of the costs of serviced office space in London by location. The research shows the average cost of a single desk in serviced office space in London, per month.
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There are some startling differences in cost across the capital, with a difference of over £1,000 per desk being found between the highest and lowest submarkets.
In the West End, the cost of a serviced office desk can be as high as £1,500 per month, whilst the starting price in this area (£900) is double the price of one in the Eastern and Northern fringes of central London, where the same desk could be found starting from £450.
It is not about location, but supply. Less central locations such as Canary Wharf do not provide a cost saving on central London – they are on a par with rents on the Southbank, and more than those in the City.
With the rise in the 'gig economy' and larger companies seeking flexible project space, flexible office solutions will become an integral part of the office mix of the future.
This is almost certainly due to the demand for serviced office space vastly outstripping the supply as there is a severe lack of supply of serviced office space in Canary Wharf.
There has been a structural change in how people are regarding real estate solutions – flexible office solutions are no longer just for start-ups and freelancers – the demand is increasingly cross-sector.
As such, more and more companies are prioritising flexibility over cost, and with the rise in the 'gig economy' and larger companies seeking flexible project space, flexible office solutions will become an integral part of the office mix of the future.
The criteria for our ‘Serviced Office Submarkets’ research incorporates serviced office space from all of the key players including TOG (The Office Group), WeWork, i2Office, Regus and London Executive Offices as well as boutique serviced office providers.
It does not include co-working or hot desking, but standard serviced office space.
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Our 'office finder' service is free to anyone looking for space. Please do get in contact if you are researching what options and locations work best for you - in London, across the UK and globally. We can source as little as 1 desk to a 500 person office.