How Much Does it Cost to Rent Office Space in London? 

Renting office space in London varies depending on your location and type of workspace. Understanding these variations is important for making informed decisions that align with your budget and business needs.  

Here’s what you need to know about the cost of renting flexible office space in London, or read our article on renting flexible office space across other UK cities.  

Demand for Serviced, Managed and Coworking Office Space in London 

The demand for flexible office spaces, including serviced, managed, and coworking spaces, has surged in recent years. These options offer greater flexibility and are more cost-effective than traditional office leases.  

Here’s a look at the different types of flexible office spaces that are available to rent: 

• Serviced Offices: Fully equipped and managed by a facility management company, serviced offices come with utilities, reception services, and often IT support, making them a hassle-free option for businesses. 

• Managed Offices: Customisable to your needs and including maintenance and management services, managed offices provide more control over the layout and design than serviced offices. 

• Coworking Spaces: Ideal for freelancers, startups and small businesses, coworking spaces offer a collaborative environment with shared amenities. They are often more affordable and provide networking opportunities. 

Read: How much office space do I need?

Cost to rent flexible office space in London 

The cost to rent office space in London varies significantly depending on the area. Here is an updated look at the average costs per square foot in key areas across London: 

Understanding the costs 

Mayfair and St James’s 

Mayfair and St James’s are among the most prestigious areas in London, known for their elegant streets and historic buildings. These areas are home to high-end businesses, luxury brands and some of the city’s most expensive restaurants and hotels. The prime rent here reflects the exclusivity and high demand for office space. 

Rent per square foot: £350 

Browse office space in Mayfair

South Bank 

South Bank is known for its cultural attractions, including theatres, galleries and museums, as well as its vibrant atmosphere along the River Thames. This area attracts creative industries and media companies looking for an inspiring environment. 

Rent per square foot: £275 

Browse office space in South Bank 

Shoreditch/Old Street 

Shoreditch and Old Street are at the heart of London’s tech and creative scene. Popular with startups and innovative companies, this area is renowned for its trendy vibe, eclectic mix of businesses, and dynamic environment. 

Rent per square foot: £265 

Browse office space in Shoreditch

Victoria 

Victoria is a key business district with various office spaces, from modern buildings to historic properties. It offers excellent amenities and transport connections, making it a desirable location for many businesses. 

Rent per square foot: £250 

Browse office space in Victoria

Soho 

Soho is famous for its creative atmosphere and is a hotspot for media, entertainment, and advertising companies. The area’s lively nightlife and diverse dining options add to its appeal. 

Rent per square foot: £240

Browse office space in Soho 

Clerkenwell/Farringdon 

Clerkenwell and Farringdon blend modern and historic office spaces, attracting design firms, architects and tech companies. The area’s rich history and vibrant community make it an interesting place to work. 

Rent per square foot: £235 

Browse office space in Farringdon

Kings Cross 

Kings Cross is a rapidly developing area known for its major transport hub and modern office spaces. The area’s regeneration has attracted many tech giants and creative businesses. 

Rent per square foot: £220

Browse office space in Kings Cross 

Holborn 

Holborn is a key legal district, home to many law firms and professional services. It offers a mix of traditional and contemporary office spaces, catering to a diverse range of businesses. 

Rent per square foot: £210 

Browse office space in Holborn

Paddington 

More affordable than central locations, Paddington offers good value with excellent transport links, including the Elizabeth Line. It’s an ideal location for businesses looking for connectivity and cost-effectiveness. 

Rent per square foot: £150 

Browse office space in Paddington

Aldgate/Whitechapel 

Aldgate and Whitechapel provide lower-cost options, attracting a diverse range of businesses from startups to established companies. The area’s ongoing development is enhancing its appeal. 

Rent per square foot: £145 

Browse office space in Aldgate

Renting office space in London 

The cost of renting office space in London varies greatly depending on the location and type of workspace. While areas like Mayfair and the City Core command the highest rent, more affordable options are available in areas like Docklands and Aldgate.  

For more information on finding the perfect office space for your business in London, contact us today to explore options in the city’s top locations.