A guide to office space in London Oxford Circus
Oxford Circus is one of London’s most well-known junctions, servicing millions of pedestrians every year. It lies roughly halfway along Oxford Street and intersects with Regent Street, encompassing London’s two busiest shopping hubs. At the busiest times, over 40,000 pedestrians per hour pass through the junction. A diagonal crossing opened at Oxford Circus in 2009, catering for the massive amount of foot traffic in the area. It is still the only one of its kind in Central London. The area is now a centre for retail, fashion and creative sectors. Because of its reputation as one of the most popular shopping destinations in the world, it has attracted a long list of global names in the industry including: • Nike • H&M • Topshop/Topman • United Colors of Benetton • Miss Selfridge • Schuh Many of these retailers, including Debenhams and House of Fraser, have even chosen to set up their flagship stores in the area, adding to the district’s exclusive status.
Oxford Circus is situated in the middle of London’s busiest and most expensive shopping district. The area is served by a host of bus routes and by the Oxford Circus Underground station, which lies directly beneath the junction itself. These links give professionals and patrons access to three main areas surrounding the junction: Bond Street, Soho and Fitzrovia. Bond Street is known as a prestigious retail address while Soho and Fitzrovia both cater for London’s creative industries.
Neighbouring areas - price comparisons, per person per month
|
The prices given below are the minimum to maximum average cost for serviced offices, per person per month, derived from our Sales Team's knowledge. |
| Area | Indicative price range |
|---|---|
| Oxford Circus | £650 – 850 |
| Soho | £700 – 900 |
| Fitzrovia | £700 – 900 |
| Kings Cross and Euston |
£700 – 900 |
| Mayfair | £900 – 1400 |
Looking for an office in Oxford Circus
The office market around Oxford Circus is thriving - there is a lot of availability in terms of office space as well as a lot of demand. Leading retailers and businesses look to set up around Oxford Circus because of its prestigious address and high volume of foot-traffic. There are also new centres opening up constantly in the areas converging around the junction.
Costs
There are a number of shared space options available around Oxford Circus, especially prominent in Soho. However, flexible serviced private suites still dominate in the area and start from around £600 per person per month. Prices vary depending on office size and requirements of the business, but it is worth keeping in mind that these types of spaces include a variety of amenities and services.
Office sizes
Shared office space, or co-working space, is becoming increasingly popular in this area among both big and small businesses. The average size of these lofts vary greatly from 50 – 2,000 sq ft. Small private and large corporate offices are also available in the area, meaning that it is able to accommodate most inquiries, ranging from one desk to 100 or more.
Why choose Oxford Circus?
Oxford Circus is the perfect choice for businesses in the retail and creative industries. While it is not the cheapest location in London, its prestigious address means that you will be rubbing shoulders with some of the biggest names in the industry. The massive amount of foot traffic from both locals and tourists around the junction is also extremely beneficial for those in the retail and service sectors, as they see thousands of people come through their doors every week.
Because of Soho’s reputation as a creative hub, your business will also be surrounded with like-minded companies with which you can network and work.
A Closer Look at Oxford Circus
The areas converging around Oxford Circus are:
Bond Street
Bond Street runs between Oxford Street and Piccadilly in London’s West End. The street has been a fashionable shopping area since the 18th century and is the home of many high-end retailers. It is divided into two parts; the southern section is known as Old Bond Street while the longer northern section is known as New Bond Street.
Bond Street is one of the most expensive strips of real estate in the world and was named Europe's most expensive retail location in 2010. At one time, Bond Street was best known for high-end art dealers and antique shops that were gathered around the London office of Sotheby's auction house and the Fine Art Society. A few of these dealers and antique shops remain in the area, but many of the shops have become occupied by fashion boutiques and international designer brands.
The area is also supported by organisations such as the Bond Street Association which benefits companies in both the retail and business sectors. The association helps build businesses in the area by organising brand partnerships, events and promotions.
Soho
South of Oxford Street, the Soho area is incredibly popular due to its status as a creative hub within London. Soho has been long established as an entertainment district, playing home to the headquarters of some leading film companies in the UK. However, in the past few decades the area has seen a considerable shift in focus and is now a popular district for upmarket restaurants and trendy media houses and agencies.
Soho boasts a diverse, multicultural community and features everything from industry and commerce to culture and entertainment.
A number of companies in the following industries have made this area their home:
Media – Thomson Reuters, WPP, Pearson
Fashion – Burberry, Mulberry, Ted Baker
Design – Imagination, Reading Room, Elmwood
Advertising & PR – Abbott Mead Vickers BBDO, Bartle Bogle Hegarty, Publicis London
Fitzrovia
Fitzrovia, sometimes referred to as Noho, lies in Central London, north of Soho. The area plays a number of roles and is characterised by its mix of residential homes, office space, retail, education and healthcare. The historic area was once home to iconic writers such as Virginia Woolf and Arthur Rimbaud. However, in recent years the once bohemian district has been catching the eye of commercial industries as an affordable alternative to neighbouring zones.
The area is a mixture of wide streets and side alleys, lined with buildings from a variety of architectural styles ranging from the eighteenth century to modern designs. Fitzrovia’s skyline is dominated by one of London’s tallest and most iconic buildings – the BT Tower.
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.