Central London's Flexible Office Space Price Guide
Compare prices on office space and coworking desks across Central London.
Central London Office Price Summary - Q1 2024
Spanning several boroughs, including the City of London, Bermondsey, Bethnal Green, Finsbury, Holborn, Shoreditch, Southwark, Stepney, St Marylebone, and Westminster, Central London encompasses the innermost region of London and is a popular choice for businesses to call home. With a population of 1.6 million, it also has the highest density of residents found anywhere in London, it's no surprise that Central London also includes the highest concentration of flexible offices with over 3 million square feet of available space. In fact, no other city in the UK comes close to the options available for businesses and startups to choose from. Whether it's the bare basics or luxury in a tier-one building, businesses choosing to operate in Central London have the widest range of options to choose from.
Home to some of the country's most intriguing architecture including London's largest building the Shard near London Bridge station and the Gherkin at 30 St Mary Axe near Liverpool Street station, Central London some of the most notable buildings in the world including:
- Centre Point near Tottenham Court Road station
- Lloyd's building near Aldgate and Tower Hill stations.
- Twenty-two at 22 Bishopsgate
- Leadenhall building at 122 Leadenhall Street -The Fenchurch Building, aka the "Walkie Talkie" at 20 Fenchurch Street
Available Flexible Floorspace Fall 4.4% in Central London
With over to 3.7 million square feet of flexible office space available at the end of Q1 2024, Central London represents 76% (up from 69 percent at the end of 2022) of the short-term office space available across London. And with such a large concentration of offices, it's no wonder so many remained empty due to the numerous lockdowns over the past two years which also led to a higher-than-normal vacancy rate across both traditional and serviced offices. The following chart highlights the increase in floor space over the past 3 years through to March 2024.
The chart above highlights the change in vacant flexible office space in sq.ft. across Central London to March 31, 2024. Source: Rubberdesk real-time availability.
Office Desk Rates Dip 1% on Soft Demand
After seeing a brief upswing in prices in the first half of 2022, and the first real growth across two consecutive quarters since the start of the pandemic, rising inflation and ongoing uncertainty in the market put a halt to further price increases as the median price per desk fell to £689 per desk. Despite a 4.4% decrease in available office, the desk rate held steady in many parts thanks to Central London's superior office quality.
This chart highlights the change in the median price of office space per person per month across Central London to March 2024. Source: Rubberdesk real-time availability.
With inflationary pressure still an ongoing concern for many businesses, we expect prices to remain soft into the second half of 2024 as operators look to rent out their excess office capacity. For those businesses looking to rent new office space, there should be some great deals on offer such as free rent for 1-3 months for those businesses willing to commit to longer terms of 1 year or more.
Central London Flexible Office Space
| Median Office Rate Per Person | Median Coworking Desk Rate | Flex Floorspace Available (sq. ft.) | Available Desk Capacity |
|---|---|---|---|
| £689 | £425 | 3,767,650 | 75,353 |
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Price by Office Size in Central London
When considering the cost of a serviced office, it's important to know that prices vary by a range of factors including location and the size of the office. Larger offices tend to cost a bit more as they may include private meeting rooms, extra amenities as well as a private entrance. Median rates in Central London range from £650 per desk for a 11-15 person office to £790 per person for a private 50+ desk enterprise office.
Office Capacity in Central London by Floorspace and Size
Whether you're a sole trader, a startup with a team of 10, or a well-established business in need of an office for 300, Central London has the widest selection of different-sized offices available. Though offices for teams under 15 people represent 54% of all available offices giving small businesses the widest range of options, these offices only occupy 17% of the available floor space.
On the other side, larger spaces for teams of 16 or more make up 83% of the floor space and tend to have a much higher median price due to special inclusions such as private floors, meeting rooms, entrances, and amenities that cater to specific business needs. Though these enterprise offices for larger teams of 50 plus staff are limited in areas outside London, the same cannot be said for Central London where medium to large businesses have plenty of spaces to accommodate larger teams.
Central London Serviced Office Operators
Like many factors in business, office space comes in many different varieties often defined by location, quality of the building, and amenities. In Central London, Bespoke Spaces, Citibase, and Huddle have offices available for under £450 per person, while Kitt, Situu and Ocubis provide a higher end option for those businesses with budgets over £832 per desk.
Comparing one operator to the other is not recommended on price alone though as most operators have their own style & fit-outs that differentiate them from other hosts. Thus we often recommend that businesses tour a number of spaces to get a good sense of the overall style rather than selecting on price alone. WeWork vs Regus for example often have very different styles. While WeWork's office style is often described as casual and relaxed, Regus (IWG) is professional and corporate.
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Office Space Prices Near Circle Line Tube Stations
When it comes to finding the perfect office for your business in Central London, access is everything. With so many offices located within such as small radius, you will generally find multiple options within a 10-minute walk (half a mile) of a major tube or train station.
When it comes to Central London, you can't go wrong with finding an office at one of the many stations with rates ranging from £492 near Embankment Station to £828 near King's Cross Station. Our Circle line Office Space Price Guide compares and breaks down prices by office size and availability for each station in more detail.
| Station | Median Office Desk Rare | Median Coworking Desk Rate |
|---|---|---|
| Paddington Station | £790 | £425 |
| Baker Street Station | £630 | £425 |
| King's Cross Station | £828 | £425 |
| Farringdon Station | £655 | £375 |
| Moorgate Station | £665 | £135 |
| Liverpool Street Station | £725 | £425 |
| Monument Station | £672 | £250 |
| Blackfriars Station | £590 | £350 |
| Embankment Station | £492 | £570 |
| Westminster Station | £806 | £570 |
| Victoria Station | £660 | £425 |
Check out our other train line price guides:
- London Victoria Line
- London Elizabeth Line
- London Northern Line
- London Jubilee Line
- London Piccadilly Line
- London District Line
- London Central Line
- London Hammersmith Line
- London Metropolitan Line
What is the Cost to Rent Flexible Office Space in the Central London?
With such a large number of workers commuting each day, the location of your office to transit is critical. Thankfully, there are hundreds of private offices available within Central London's most desirable locations.
The following table breaks down the median cost by location across Central London.
Flexible office space in Central London varies significantly depending on the location and the number of desks required. For example, Office space in Mayfair is the most expensive location with a cost of £1,100 per desk, up 8% from last quarter followed by office space in SOHO at £811 per desk and office space in Holborn at £700 per desk. On the other hand, office space in Southwark, Victoria and Fitzrovia are relatively more affordable with prices ranging from £679 per desk.
| City | 1-4 Desks | 5-10 Desks | 11-15 Desks | 16-25 Desks | 26-50 Desks | 50+ Desks |
|---|---|---|---|---|---|---|
| SOHO Office Space | £817 | £475 | £809 | £834 | £838 | £900 |
| Fitzrovia Office Space | £648 | £666 | £637 | £693 | £623 | £1,170 |
| Mayfair Office Space | £1,100 | £1,020 | £1,100 | £1,041 | £1,167 | £732 |
| Fitzrovia Office Space | £648 | £666 | £637 | £693 | £623 | £1,170 |
| King's Cross Office Space | £688 | £600 | £523 | £688 | £765 | £993 |
| Marylebone Office Space | £593 | £675 | £453 | £683 | £707 | £493 |
| Victoria Office Space | £511 | £650 | £650 | £805 | £682 | £805 |
| Southwark Office Space | £600 | £689 | £610 | £670 | £694 | £841 |
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Central London's Top 3 Neighbourhoods to Start a Business
Despite a growing trend of working from home, many business areas in Central London continue to be in high demand, especially as businesses search for quality and amenities to attract top talent.
SOHO, Central London
Discover the heart of London's pulsating creative core, SOHO - a bustling hub where innovation meets iconic architecture. It's no wonder that top media agencies, chic fashion houses, and cutting-edge tech startups choose to make SOHO their business playground. With seamless connectivity to the city's every corner, this dynamic district becomes the crossroads for businesses craving a prestigious central address. In this thriving metropolis, several esteemed flexible office operators stand out, such as WeWork, Situu, and The Office Group, each crafting bespoke, adaptable workspace solutions. Immerse yourself in the effervescent SOHO experience to elevate your brand to new heights.
| Median Office Rate Per Person | Median Coworking Desk Rate | Flex Floorspace Available (sq. ft.) | Available Desk Capacity |
|---|---|---|---|
| £811 | £335 | 88,050 | 1,761 |
Private Office for up to 28 People | 1,430 Sq. Ft.
16 D'Arblay Street Soho, W1F
Private Office for up to 28 People | 860 Sq. Ft.
33 Broadwick Street London, W1F
External Private Office for up to 16 People
9 Noel Street London, W1F
4 Person Office Available
18 Soho Square London, W1D
Private Office for up to 10 People | 311 Sq. Ft.
21 Carnaby Street London, W1F
Private Studio for up to 22 People | 690 Sq. Ft.
197-213 Oxford Street Jubilee House London, W1D
Fitzrovia, Central London
Discover the vibrant heart of central London, Fitzrovia, a bustling hub of innovation that entices businesses and creative industries alike. This thriving neighbourhood boasts an alluring assortment of top-tier art galleries, design studios, and media powerhouses. Convenient transport links and a prime location make Fitzrovia an irresistible spot for establishing your business presence. Dive into the diverse range of flexible office space solutions tailored to suit your specific needs, exclusively offered by industry leaders such as Fora, Kitt, and Work.Life. Experience Fitzrovia - the epitome of central London's unique charm and unparalleled opportunities.
| Median Office Rate Per Person | Median Coworking Desk Rate | Flex Floorspace Available (sq. ft.) | Available Desk Capacity |
|---|---|---|---|
| £667 | £425 | 179,350 | 3,587 |
32 Person office available
33 Cavendish Square London, W1G
Private Office for up to 22 people | 1,382 Sq. Ft
101 Great Portland Street London, W1W
3 Person Office Available
18 Soho Square London, W1D
45 Person office available external corner office with exec offices
77 New Cavendish Street London, W1W
16 Person office available
77 New Cavendish Street London, W1W
Private Office for up to 50 People | 2,710 Sq. Ft.
19-21 Great Portland Street Fitzrovia London, W1W
Aldgate, Central London
Known as the vibrant heart of London's commercial scene, Aldgate offers a captivating blend of sleek skyscrapers and restored historic gems. Here, iconic landmarks such as the Gherkin, Leadenhall Building, and Tower Bridge proudly stand tall, exhibiting the area's thriving office market. Whether you're a startup or an established enterprise, Aldgate's impressive portfolio of office spaces caters to all, ensuring you are optimally located within London's bustling core. Top flexible office operators like Landmark Space, Business Cube, and Clarendon provide comprehensive, fully-serviced office solutions to suit your business needs. With exceptional transport connections, including Aldgate tube station, confidently navigate through the city, solidifying your place in London's dynamic business landscape.
| Median Office Rate Per Person | Median Coworking Desk Rate | Flex Floorspace Available (sq. ft.) | Available Desk Capacity |
|---|---|---|---|
| £658 | £299 | 451,800 | 9,036 |
External Private Office for up to 28 People
51 Lime Street London, EC3M
External Private Office for up to 7 People
51 Lime Street London, EC3M
Internal Private Office for up to 12 People
51 Lime Street London, EC3M
Internal Private Office for up to 7 People | 200 Sq. Ft.
15 Saint Botolph Street London, EC3A
Private Office for up to 18 People | 1,241 Sq. Ft.
6 Lloyd's Avenue, The City London, EC3N
External Private Office for up to 23 People | 800 Sq. Ft.
6 Bevis Marks London, EC3A
Source Rubberdesk. All prices shown exclude discounts and offers. Talk to us about the latest offers available.
Frequently Asked Questions About Office Space in Central London
How much does it cost to rent office space in the Central London?
As of March 31, 2024, the median price for office space in Central London is £689 per person per month.
How much does it cost to rent a coworking desk in Central London?
The median cost to rent a coworking desk in Central London is £425 per desk.
Author: Tom Petryshen, VP Growth & Analytics
Updated: April 24, 2024
See Also
- UK Office Space Price Guide
- City of London Office Space Price Guide
- Central London Office Space Price Guide
- East London Office Space Price Guide
- West London Office Space Price Guide
- Manchester Office Space Price Guide
- Birmingham Office Space Price Guide
- Scotland Office Space Price Guide
- Dublin Office Space Price Guide
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