A guide to office space in Toronto

The financial heart of Canada and a major international business hub, Toronto is home to the Toronto Stock Exchange as well as the headquarters of Canada’s Big Five banks. The diverse economy is dominated by the finance, telecommunications, business services, media, tourism, software, research and engineering sectors. Toronto is also a vital distribution point for the industrial sector.

The location

Toronto is divided into 140 neighbourhoods, on the north-western shore of Lake Ontario, in the Golden Horseshoe sub-region of Ontario Province. The area known as Old Toronto is the most densely populated, and is home to the CBD. Other districts within the city include East York, Etobicoke, Scarborough, North York, and York.

Neighbouring areas - price comparisons, per person per month

The prices given below are the minimum to maximum average cost for executive suites, per person per month, derived from our Sales Team's knowledge.
Area Indicative price range
Toronto $1,000 – 8,000
Brampton $1200 – 8000
Mississauga $1200 – 8000


Toronto

Looking for an office in Toronto

A Toronto address in Canada is like having a New York address in the US — it shows a business has a strong presence in a prestigious area. Yonge Street, King Street, Bloor Street, and Four Seasons Place are requested most often, due to their location and reputation.

The best area for your businesses really depends on what industry you’re in — mining and finance companies tend to populate the Financial District, while law firms are attracted to Downtown, and advertising agencies to Midtown.

Costs

Prices for executive suite space in the different areas of Toronto range from the following:

Financial Core $900 – 3,000 per person per month
Downtown $650 – 1,200 per person per month
Mid-Town $750 – 2,000 per person per month
North York $850 – 2,500 per person per month

These prices are inclusive of amenities, which can include Internet, parking, AV equipment, lounges, kitchen facilities, meeting rooms, reception services and IT support, among others.

Office sizes

While private executive suites are still a popular option, coworking is slowly starting to catch on.

Instant Offices offer a large variety of office types and sizes, and are able to accommodate most inquiries, depending on your needs. Executive suite providers can be flexible with the layout of the workspace, and can arrange partitioning to fit a particular requirement.


Why choose Toronto?

For companies looking to expand outside of the US, Canada is often the next option. Specifically, Toronto has one of the world’s largest stock exchanges, a booming market, and has been ranked as a Global Leader by the Global Financial Centers Index. It has also been selected as one of the world’s most liveable cities.

Toronto is home to a number of businesses from a diverse range of industries. With a competitive business climate, culture of innovation and well-educated workers, Toronto is the ideal location in which to expand or establish your business.

Five things you probably didn’t know about Toronto: 

  • Beneath the office towers of downtown PATH is a 29km network of pedestrian tunnels and home to the world’s largest underground shopping complex (four million square foot of space)
  • According to the EIU Safe Cities Index 2015, Toronto is the safest city in North America
  • North America’s third-largest movie production venue and home to the annual Toronto International Film Festival (TIFF) each September
  • Almost 25% off all Canadians live within a 160km radius of Toronto
  • Half of Toronto’s population was born outside of Canada
Toronto

A closer look at Toronto

Financial District

Toronto’s Financial District is within the downtown core. It's characterized by a number of iconic skyscrapers, including First Canadian Place, and Scotia Plaza, two of the tallest buildings in the city. The area is densely populated by many large finance, banking, mining, business, and law firms. These include the Royal Bank of Canada, Bank of Montreal, Osler, Hoskin & Harcourt, one of Canada's largest business law firms; the Canadian Imperial Bank of Commerce, Deutsche Bank, and Deloitte. Most of the Financial District is connected by PATH, a network of underground walkways forming the world’s largest underground shopping complex. The district is well served by Metro links, as well as train and bus connections from Union Station.

Downtown

Downtown Toronto, which contains the Financial District, is the primary CBD and contains the city's largest concentration of skyscrapers and businesses. It is also home to the provincial government of Ontario, the municipal government of Toronto, a branch of Google, and the Toronto Stock Exchange. Downtown Toronto is a diverse area — Downtown Yonge is the retail core, the Entertainment District has a number of restaurants, attractions and nightclubs, while the Yorkville area has developed into an upmarket shopping district. The Downtown area is served by a well-connected public transport system of trains, buses, Metro, and underground walkways.

Midtown

Midtown Toronto is situated between Bloor Street and Lawrence Avenue, with the high profile, high traffic retail road of Yonge Street running through the area. Midtown provides easy access to the Downtown CBD, via the St. Clair and Eglinton Metro stations. It also contains several modern high-rise office buildings, in addition to great local amenities like restaurants, shopping centers, and entertainment facilities.

North York

North York, situated in the northern part of Toronto, is served by excellent transport links — it is within close proximity to Highway 401, with Pearson International Airport a short drive away. Yonge-Sheppard and North York Center stations provide access to the Metro. North York has an up-and-coming business center, with development focused on and around Yonge Street. The Canadian head offices of Procter & Gamble, Nestlé, McDonalds, Cadbury Adams, Lindt & Sprüngli, Equifax, and Xerox are all based in North York.

*Last updated on 1 June 2015

Want to find out more?

If you’re looking to move into the area, or simply require more information, contact Instant Offices’ specialist local consultants.

Email our team or call us and we'll be delighted to help you.

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