Latest Flex Office Market Insights: London Flexible Office Space Report - January 2024

How to Find your Next Office in London?

How to Find your Next Office in London?

Are you ready to reassess your workspace needs? This article will provide you with all the resources you need to make the right choice for your business.

Whether you're starting your search for a new office due to lease expiry, you need more or less space, or you just simply want to know what options are out there, there are 5 key points you should consider before and during your search for office space.

1. Do I want a leased or serviced office?

Deciding whether you need more or less space, the length of the lease and whether that's in a serviced or a leased office is always going to be challenging. That's why it's necessary to thoroughly compare both options so you can be confident in your decision.

Key points of difference between a Leased and Serviced Office include:

  • Length of Term
  • Pricing
  • Discounts / Incentives
  • Bond / Bank Guarantee
  • Fit out
  • Branding
  • Space per person

We know there are a lot of points to cover, so feel free to give us a quick call or message and we can help you make the right choice.

Photo: Rent an Office in London

2. Are flexible work arrangements impacting our need for more or less space?

According to the recently released joint report by Essensys and Flexible Workspace Australia (FWA), Australian office workers remain reluctant to return to the office full-time. Driven by the acceleration of working-from-home policies due to the pandemic, as near the end of 2023, the workplace will remain employee-driven.

Research conducted by Deloitte Access Economics found that 54% of employees think that flexible working is at least as important as a 5% pay increase. Despite these changing employee expectations, it is important to understand that whilst the role of the central office has changed, it remains vital for organizational culture and growth.

So, as part of establishing the why, when, and how of the 'new' office, managers must reassess their current workspace needs to better fit their current work model. If only half of your employees are in the office on any given day during the week, perhaps downsizing to an office with flexible terms where you can take more or less space as you need is the better option.

3. Does our current office have the tech capabilities needed for employee success?

As part of your workspace reassessment, it's also important to recognise where your office can be improved from a technological standpoint and understand how investing in this can help attract employees back to the workplace. According to the Essensys and FWA joint report,

57% of office workers say that their office building ISN’T EQUIPPED for a flexible, seamless, agile work experience.

A practical and perhaps more affordable solution to improving your workspace technology is to rent an office in a premium coworking or serviced office space. Many coworking spaces such as The Office Group offer a range of benefits including fully-equipped meeting and boardrooms.

4. How do I find the office that is right for my business?

If you've taken some time to think about each of the previous points in this guide, the next step to finding the space that works best for all aspects of your business is by touring a range of offices. Create a wish list of what you want, factors such as a specific location, the type of office, or what sort of atmosphere would your team work best in.

Then we suggest reaching out to a Flexible Office Space broker (like us) to help you compare the entire market. There are over 60 Workspace Operators across London and the U.K. listed on Rubberdesk, all with completely different product offerings. That's a lot of offices to visit if you're new to the office search! However, with our expertise, we will narrow down your options, present you with a bespoke shortlist of suitable offices, and negotiate the best deal all for free and without obligation!

Here's another opportunity to get a free quote.

Want to see what's out there but not ready to tour?

That's fine, it's always good to get a general idea of the market. Take a look at some of the coworking and serviced offices currently available on Rubberdesk. Keep in mind there will be a range of new offices opening on a regular basis. In fact, there has been over 900 new office spaces and one million square feet of new inventory added in the last quarter alone so it's worth taking a look on a regular basis or have one of our Flex specialist do it for you. Stay up to date with what's new in the London Flexible Office Market here.

5. How much does it cost to rent a flexible office in London?

It's important to have a realistic and complete understanding of the cost of office space. As with most things the more premium an office is, the more premium the price. Moreover, there are many additional factors that influence the cost of an office. These include the location, the quality and standard of the fit-out, and the size of the office.

Prices by Region

City 1-4 Desks 5-10 Desks 11-15 Desks 16-25 Desks 26-50 Desks 50+ Desks
Central London £675 £667 £650 £655 £716 £759
West London £385 £400 £429 £485 £563 £488
East London £350 £350 £410 £495 £522 £520
North London £325 £350 £351 £330 £429 £550
South London £257 £240 £229 £400 £225

Source Rubberdesk. All prices accurate as of September 2023

Most companies aren’t really sure of what to expect when it comes to their budget, that's why we will work with you to create a bespoke shortlist. Our free shortlist provides a holistic understanding of the market and will include a range of options including:

  • Cost-Effective Offices: These are typically smaller internal spaces with filtered light.
  • Mid-Range Offices: More space per person, may have natural light, internal meeting rooms.
  • Premium Serviced Offices: Premium amenities, prime locations, spacious offices with internal meeting rooms, and break-out space.

Read our latest UK Flexible Office Space Report for more in-depth pricing information.

Find your Next Office in London

City of London Office Space Summary

Median Office Rate Per Person £678
Median Coworking Desk Rate £325
Flex Floorspace Available (sqft) 1,114,750
Up to 31 people
Private Offices

4th Floor, 1 Lackington Street London, EC2A

Up to 66 people
Private Offices

2 Tallis Street London, EC4Y

Up to 27 people
Private Offices

Central London Office Space Summary

Median Office Rate Per Person £685
Median Coworking Desk Rate Per Person £425
Flex Floorspace Available (sqm) 3,767,650
Available Desk Capacity 75,353

193-197 High Holborn Town Hall London, WC1V

Up to 16 people
Private Offices

2 Riding House Street London, W1W

Up to 84 people
Private Offices

14- 17 Red Lion Street London, WC1R

Up to 12 people
Private Offices

East London Office Space Summary

Median Office Rate Per Person £436
Median Coworking Desk Rate Per Person £250
Flex Floorspace Available (sqm) 570,900
Available Desk Capacity 11,418

TYPE at Sierra Quebec Bravo 77 Marsh Wall London, E14

Up to 16 people
Private Offices

One Canada Square Canary Wharf London, E14

Up to 18 people
Private Offices

20-30 Whitechapel Road People’s Mission Hall London, E1

Up to 8 people
Private Offices

West London Office Space Summary

Median Office Rate Per Person £475
Median Coworking Desk Rate Per Person £297
Flex Floorspace Available (sqm) 378,050
Available Desk Capacity 7,561

115 Baker Street London, W1U

Up to 20 people
Private Offices

1 Great Cumberland Place, Marble Arch London, W1H

Up to 40 people
Private Offices

Office 211, 69 Old Street Dorset Square, EC1V

Up to 11 people
Private Offices

South London Office Space Summary

Median Office Rate Per Person £300
Median Coworking Desk Rate Per Person £250
Flex Floorspace Available (sqm) 84,750
Available Desk Capacity 1,695

50 Westminster Bridge Rd. The Chandlery, Lambeth & Waterloo London, SE1

Up to 3 people
Private Offices

180 Borough High Street London, SE1

Up to 14 people
Private Offices

North London Office Space Summary

Median Office Rate Per Person £333
Median Coworking Desk Rate Per Person £270
Flex Floorspace Available (sqm) 210,100
Available Desk Capacity 4,202
Up to 2 people
Private Offices

Unit 29, St Mark's Studios Chillingworth Road London, N7

Up to 6 people
Private Offices

Labs Atrium Camden, Stables Market, Chalk Farm Road London, NW1

Up to 53 people
Private Offices

Start Your Search for Flexible Office Space Today

Local market experts with you every step of the way.

As specialist brokers in the flexible office market, Rubberdesk is across all the options, offers and availability. We have real time pricing for thousands of spaces listed by hundreds of providers to help find your next office.

It's EASY, FAST and FREE to use Rubberdesk.

Start by telling us what you need.

We'll give you a call back with a bespoke shortlist of options to discuss.

Get Started

Or give the experts a call +44 (0)800 699 0655

Frequently Asked Questions

What does it Cost to Rent a Serviced Office?

The cost to rent a serviced office can vary by location, type of building, amount of space, and amenities provided. The median cost to rent an office in London is £611 with the median price of a coworking desk currently at £335 per person.

Where to find a serviced office?

There are currently over 100 serviced office providers listed on Rubberdesk today with offices located all across London and The U.K. You can find an office close to home or take space in a central location. Depending on when you want to move, many serviced offices offer turn-key, fully-furnished ready to go office space.

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