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

Office rent is the second-largest business expenditure after salaries.

Establishing the average cost of office space in your chosen area is crucial for setting expectations and budgets — helping you determine the size, location, and quality of the workspace.

Below, we break down office space costs using insights from Hubble’s extensive, up-to-date dataset, covering thousands of workspaces in London and beyond, freshly updated for Q3 2024.

You can get an even more detailed area-by-area breakdown by downloading Hubble’s quarterly rent guide.

Cost of office rental (London-wide averages)

London is the most expensive city in the UK, as well as being the 4th most expensive city in the world.

It offers a wide range of flexible workspaces, from high-end full-time offices to more affordable part-time options, allowing you to choose the perfect workspace based on your budget.

Here’s the average cost to rent different types of office spaces across London:

London-wide averages for 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

London-wide averages for Part-Time Offices:

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

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, St Paul’s 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!