Market Insights: London's Flexible Office Space Market Report - Q3 2024
The Metropolitan Line, which is often called the Met, made history as the first underground railway, opening in 1863, and connected Paddington to Farringdon. Today, the line spans 42 miles and has 34 stops along its route.
One branch of the line takes travelers to Uxbridge in Greater London. The other goes past the Greater London border and splits off a few more times to make stops in Hertfordshire and Buckinghamshire. The only other line to go past Greater London is Central, which connects Hillingdon with Essex to the northeast.
For businesses looking to rent office space in the City of London or the West End, the Metropolitan Line is one of the best modes of transportation. Many of its stops are in highly desirable parts of the city, providing quick and easy transportation for workers. The following eight stations, however, are some of the top stops for setting up a base of operations.
As the original underground line, the Met passes through some of the busiest stations in Central London including Farringdon and Liverpool Street, and has been responsible for helping everyday Londoners get to their place of business for decades. When it comes to office space, you'll find the greatest variety of locations, building quality, and options located within easy walking distance of these two stations. Here's just a snapshot of today's office prices noted by person per month for a range of office sizes.
Station | 1-4 Desks | 5-10 Desks | 11-15 Desks | 16-25 Desks | 26-50 Desks | 50+ Desks |
---|---|---|---|---|---|---|
Liverpool Street Station | £728 | £678 | £696 | £639 | £700 | £788 |
Farringdon Station | £567 | £660 | £653 | £650 | £688 | £769 |
Moorgate Station | £607 | £624 | £577 | £601 | £729 | £762 |
Baker Street Station | £623 | £630 | £914 | £542 | £907 | £871 |
Euston Square | £838 | £1,077 | £1,046 | £578 | £812 | £777 |
Great Portland Street Station | £1,025 | £709 | £710 | £812 | £934 | £1,755 |
Uxbridge Station | £250 | £190 | £210 | £204 | £351 |
Source Rubberdesk. The median price is shown per person per month based on a 12-month term - September 30 2023
Median Office Rate Per Person | £710 |
Median Coworking Desk Rate | £450 |
Approximate Flex Floorspace Available (sq. ft.) | 632,450 |
Available Desk Capacity | 12,649 |
Like Moorgate, Liverpool Street Station places commuters in London’s financial district, closer to London City. Renting office space here provides businesses with a perfect blend of “busy business district” and “social hotspot.” They’ll gain the benefits of a prominent postcode and proximity to plenty of incredible food, drinks, and nightlife.
Workers around Liverpool Street Station have easy access to Old Spitalfields Market, whose stalls offer an array of gastronomic delights. The market also houses shops selling trendy apparel, handcrafted jewelry, and stylish homewares. Brick Lane and Shoreditch also provide plenty of options for delectable cuisines. Places to grab post-work drinks are practically limitless, with popular spots including The Mayor of Scaredy Cat Town and The Culpeper.
Being so close to London City, Liverpool Street Station is incredibly well-connected. Along with the Metropolitan line, it’s also a stop for the Hammersmith & City, Circle, Central, and newly-opened Elizabeth lines. It also serves the London Overground rail station.
Tip: With such a high concentration of offices near Liverpool Street Station you'll find an ideal office within a 10-minute walk of the station with prices ranging from a median rate of £349 per desk per month for an office for 16-25 people at Our Space](https://rubberdesk.co.uk/host/our-space) to £780 per desk per month at Storey to and £927 per desk per month for offices for at BE Offices.
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Median Office Rate Per Person | £650 |
Median Coworking Desk Rate | £425 |
Approximate Flex Floorspace Available (sq. ft.) | 289,000 |
Available Desk Capacity | 5,780 |
Farringdon Station, one of the best-connected in the city, provides access to the outskirts of the City of London. It serves the Circle and Hammersmith & City Underground lines in addition to the Metropolitan line. It’s also a stop along the Thameslink line, which carries passengers to and from farther locations such as Brighton, Cambridge, and Hertfordshire.
Located in the heart of Clerkenwell, the Farringdon has gained significant popularity in recent years. Today, it plays host to businesses in a wide range of industries; however, it’s become a hub for those in the creative and technology sectors. Being so close to the Queen Mary University of London and the University of the Arts also makes it a strategic location for growing businesses. Renting office space here offers the chance to build relationships with these universities and secure new graduates.
With the appearance of numerous trendy bars and restaurants and its proximity to Smithfield (one of London’s freshest meat markets), Farringdon is a food lover’s paradise. Exmouth Market features a variety of eateries, including Briki, Coin Laundry, and Exmouth Arms. Workers will find countless other options around the area perfect for grabbing lunch, impressing clients, or unwinding after work.
Tip: For cost conscious businesses looking for an office near Farringdon station, Lenta Business Centres and Citibase offer a range of small offices for teams of 2-15 people at a median rate of £350 and £450 per desk per month respectively. If a premium office is more you style, Situu and Kitt Offices offer a range of spaces for teams of 5-50 plus people at a median price of £822 and £875 per desk per month.
Median Office Rate Per Person | £667 |
Median Coworking Desk Rate | £525 |
Approximate Flex Floorspace Available (sq. ft.) | 132,250 |
Available Desk Capacity | 2,645 |
Moorgate Station places workers on the eastern side of the City of London, right in the financial district. Originally part of the London Wall, Moorgate itself has a long history as an essential part of the city. Today, it’s home to several historical organisations and leading banking institutions.
While its central location is possibly one of Moorgate’s most attractive aspects, the area is a combination of modern and historic. Several historical sites are within reach of Moorgate Station, including remnants of the London Wall, Guildhall, and St. Paul’s Cathedral.
Serviced offices here are also close to plenty of shopping and dining options, including Leadenhall Market, an airy covered market housing boutique retailers, fine dining restaurants, wine bars, and an award-winning pub. Beautiful outdoor spaces like Finsbury Park Circus and the grounds of the Barbican provide respite from the hustle and bustle of work.
Along with the Metropolitan line, Moorgate Station serves as a stop for the Northern, Hammersmith & City, and Circle lines. It’s also a central London Railway terminus.
Price Tip: While prices near Moorgate station range from £353 per desk per month to £1,460 for an enterprise office for a team of 26-50 plus at Business Cube you'll find great options from Beaumont, Landmark Spaces and Workpad from median rates of £605, £743 and £782 per desk respectively for offices 2-50 or more people.
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Median Office Rate Per Person | £630 |
Median Coworking Desk Rate | £425 |
Approximate Flex Floorspace Available (sq. ft.) | 40,950 |
Available Desk Capacity | 819 |
The area around Baker Street Station was once full of high-class residential properties. Now, it’s become a mainly commercial area with a mix of converted older period buildings and newly constructed business centres.
Serviced offices around the station have access to a variety of restaurants, bars, and pubs, as well as galleries and museums. One museum of note is the Sherlock Holmes Museum, which sits at 221B Baker Street. Green spaces like Regent’s Park and Paddington Street Gardens, both within walking distance, balance the busy commercial activity with serene surroundings.
Baker Street Station sits at the junction of Baker Street and Marylebone Road in the City of Westminster. It links the Metropolitan line with several other Underground lines, including Circle, Jubilee, Hammersmith & City, and Bakerloo. There are also multiple bus routes nearby.
Price Tip: Prices for office space near Baker Street Station range from £507 for an enterprise office for a team of 16 to 100 people at Regus to £623 for a premium office for 26-50 people at Wework and £871 per desk at Workpad for 16 to 54 people.
Median Office Rate Per Person | £788 |
Median Coworking Desk Rate | £575 |
Approximate Flex Floorspace Available (sq. ft.) | 59,300 |
Available Desk Capacity | 1,186 |
Located at the corner of Euston Road and Gower Street, the Euston Square Station drops commuters off just north of the University of London. The station is a large interchange, serving both the Hammersmith & City and Circle lines in addition to the Metropolitan. It’s only one stop away from King’s Cross, which links several other Underground lines and provides access to several above-ground train routes. The well-connected location makes it a popular place for renting serviced offices.
The area around Euston Square Station features an eclectic mix of cafes, restaurants, and bars, as well as many museums, landmarks, and green spaces. There’s plenty to eat, drink, and explore. Several well-known corporations also have UK bases nearby, including Facebook and Google, adding to the location’s appeal for renting office space.
Price Tip: With limited offices near Euston Square available, you'll find rates as low £417 per desk for a small team of 1-10 people at The Vineyards and larger offices with premium facilities for teams of 26-50 at a median price of £812 per desk at Kitt.
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Median Office Rate Per Person | £662 |
Median Coworking Desk Rate | £500 |
Approximate Flex Floorspace Available (sq. ft.) | 54,000 |
Available Desk Capacity | 1,080 |
The [Great Portland Street Station](https://rubberdesk.co.uk/locations/wood-lane-station-london great-portland-street-london), which also serves the Hammersmith & City and Circle lines, lies at the northern end of Great Portland Street. The road marks the border between Marylebone and Fitzrovia, two trendy areas in London’s West End. The area around the station boasts unique charm and character, with modern buildings interspersed between Victorian and Edwardian properties. It attracts businesses in a range of industries, particularly those in clothing, music, media, and broadcasting.
With its location in the chic West End, Great Portland Street is home to a variety of independent traders and stylish fashion boutiques. There are also plenty of restaurants, coffee shops, bars, and pubs to satisfy every taste. Workers can find peace in Regent’s Park, right across from the station, or explore further into either Marylebone or Fitzrovia to enjoy more of what each area has to offer.
Price Tip: Office rates near Great Portland Street station vary from a median price of £655 per desk per month at Situu to a premium price of £963 per desk per month at The Office Group.
Median Office Rate Per Person | £204 |
Median Coworking Desk Rate | £160 |
Approximate Flex Floorspace Available (sq. ft.) | 18,250 |
Available Desk Capacity | 365 |
Uxbridge Station, which sits at the northwest edge of Greater London, is about an hour away from the City of London via the Metropolitan line. The station also serves the Piccadilly and Elizabeth lines, both of which can take travelers to the nearby Heathrow Airport.
Its more suburban location has less of the hustle and bustle than the areas surrounding the city centre, but that doesn’t make Uxbridge any less of an ideal place for renting office space. Originally a market town along the stagecoach routes connecting London and Oxford, it’s now a significant commercial and retail hub.
There are two shopping centres in Uxbridge, the Pavillions and Intu Uxbridge, as well as many high-street brands and independent shops. Along with several restaurants, plenty of bars and pubs line the streets. With Brunel University nearby, businesses have easy access to recent graduates. Multiple international companies also have offices in the area, including Apple, Coca-Cola, and General Mills.
**Price Tip: **Office prices near Uxbridge station vary by operator with Citibase charging a median rate of £200 per desk while London CoWorks £210 per desk per month.
A global powerhouse in commerce, politics, and culture, London provides top-tier office spaces and serviced offices, akin to those in New York. Its iconic Underground system offers unmatched convenience, circumventing the city's congested roads. Optimal proximity to tube stations streamlines daily commutes, crucial for businesses maintaining physical office spaces in the post-pandemic era. With its extensive network encompassing 11 lines and 270 stations across 400 kilometers, the Underground remains the preferred choice for millions navigating the city each day.
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