How Much Does Office Space Cost in London? (Updated for Autumn 2024)

This guide offers a clear overview of office space costs across London, making it easy to compare areas and find an office that fits your budget.

We break down these costs with insights from Hubble’s updated Q3 2024 dataset, covering thousands of workspaces in London and beyond.

Here are the London-wide averages for Full-Time and Part-Time Offices:

Full-Time Offices:

Economical office space: £465 per desk per month
Average office space: £605 per desk per month
High-end office space: £775 per desk per month

Part-Time Offices:

On-peak day (Tue-Thu): £156 per desk per month
Off-peak day (Mon or Fri): £79 per desk per month

Keen for a deeper, area-by-area breakdown? Download Hubble’s quarterly rent guide!

Key factors influencing office rental prices

Several factors determine if an office lands in the ‘high-end’ or ‘low-end’ category:

Amenities: Does it offer competitive perks like on-site gyms or basics like bike storage?
Location: Is it close to transport, food, and entertainment or more remote?
Renovations: Is the building freshly updated, or showing signs of age?
Management Quality: Are reception and support teams reliable and community-focused?

Together, these factors add up to define the overall office ‘vibe’ — and they’re key to where the rental price lands.

Cost of office rental in London by area

London is a big place. The cost of office rental will vary widely depending on the area and your budget.

Below, we’ve broken down how much it’ll cost to rent office space across London:

East London (e.g. Old Street, Shoreditch, Stratford)

£215-£915 per desk per month

City of London (e.g. Liverpool Street, Monument)

£545-£915 per desk per month

North London (e.g. King’s Cross, Camden, Islington)

£360-£1200 per desk per month

Midtown (e.g. Bloomsbury, Clerkenwell, Holborn)

£440-£940 per desk per month

Southbank (e.g. Waterloo, London Bridge, Vauxhall):

£165-£835 per desk per month

West End (e.g. Mayfair, Soho, Victoria)

£350-£1150 per desk per month

West London (e.g. Knightsbridge, Paddington, Chiswick)

£325-£1150 per desk per month

The top 5 most expensive places to rent office space in London

If you’d like to pay a premium for a prestigious address and highly-competitive facilities, here are the 5 most expensive places to rent office space in London:

The top 5 cheapest places to rent office space in London

Here are the 5 most budget-friendly places to rent office space in London, helping you discover cost-effective options that offer value without compromising on functionality:

The cost of office rental (UK averages)

We’ve also included the latest market data for the entire UK, not just London! Here are the average office costs across the UK — including economical, mid-range, and high-end options:

East Midlands (Derby, Leicester, Lincoln)

Economical office space: £160 per desk per month
Average office space: £224 per desk per month
High-end office space: £267 per desk per month

East of England (Essex, Cambridge, Norwich)

Economical office space: £216 per desk per month
Average office space: £276 per desk per month
High-end office space: £327 per desk per month

Greater London (Bromley, Lewisham, Barking)

Economical office space: £206 per desk per month
Average office space: £257 per desk per month
High-end office space: £298 per desk per month

North East England (Newcastle, Middlesbrough, Sunderland)

Economical office space: £109 per desk per month
Average office space: £130 per desk per month
High-end office space: £151 per desk per month

North West England (Manchester, Liverpool, Stockport)

Economical office space: £148 per desk per month
Average office space: £191 per desk per month
High-end office space: £230 per desk per month

Northern Ireland (Belfast)

Economical office space: £255 per desk per month
Average office space: £312 per desk per month
High-end office space: £384 per desk per month

Scotland (Edinburgh, Glasgow, Aberdeen)

Economical office space: £236 per desk per month
Average office space: £254 per desk per month
High-end office space: £291 per desk per month

South East England (Kent, Brighton, Reading)

Economical office space: £188 per desk per month
Average office space: £243 per desk per month
High-end office space: £298 per desk per month

South West England (Bath, Exeter, Bristol)

Economical office space: £199 per desk per month
Average office space: £243 per desk per month
High-end office space: £292 per desk per month

Wales (Cardiff, Swansea)

Economical office space: £175 per desk per month
Average office space: £184 per desk per month
High-end office space: £202 per desk per month

West Midlands (Birmingham, Coventry, Wolverhampton)

Economical office space: £174 per desk per month
Average office space: £180 per desk per month
High-end office space: £193 per desk per month

Yorkshire and the Humber (Leeds, York, Bradford)

Economical office space: £162 per desk per month
Average office space: £195 per desk per month
High-end office space: £220 per desk per month

Get a detailed breakdown with our Rent Guide!

We’ve updated Hubble’s London Rent Guide with all the market data we collected in Q1 2024!

Our new guide breaks down prices for both full-time and part-time offices and gives a detailed breakdown to show you exactly how much office space costs in different locations across the UK.

We hope it helps companies better plan their next office move. Download your copy for free today!