In the third quarter, average asking prices for flex offices in Central London rebounded to £557 per desk (up 3.3% Q-o-Q) after a marginal decline earlier in the year. Private offices with larger capacities drove price growth, with those in the 20+ people category seeing the biggest increases. Pricing for smaller offices accommodating 1 to 5 people remained flat. The City of London posted an average price of £585 per desk, up 4.3% on the quarter, while the West End remains the most expensive area for flex offices in London at £644 per desk.
Flex Office Prices in Central London Increase 3.3% Q-o-Q to £557 per Desk
By price tier
By team size
Average asking prices for private offices in Central London saw a quarterly increase of 3.3% between the end of Q2 and Q3 2026, reaching £557 per desk across all office sizes at the end of September. The price increase brings prices higher than those recorded in the first half of the year after Q2’s 0.8% price pullback.
Mid- and large-sized offices saw the largest average price increases. A desk in an office sized for 6 to 10 people now asks £626 on average, up 2.3% on the quarter, while private offices for teams of 20 employees or more saw a 3.4% increase between Q2 and Q3.
Breakdown by Area: Midtown Outstrips All London Areas in Price Growth
Click an area to explore its locations.
| Location | Q3 2026 | Q2 2026 | Q-o-Q |
|---|---|---|---|
| ＋City of London | £585 | £561 | 4.3% |
| Liverpool Street | £658 | £636 | 3.5% |
| Monument / Fenchurch Street | £600 | £561 | 7.0% |
| St Paul’s / Bank | £459 | £454 | 1.1% |
| ＋Docklands | £525 | £524 | 0.3% |
| Canary Wharf | £525 | £524 | 0.3% |
| ＋East London | £503 | £494 | 1.8% |
| Bethnal Green / Hackney | £357 | £305 | 17.1% |
| Old Street / Shoreditch | £515 | £509 | 1.3% |
| Spitalfields / Aldgate | £596 | £591 | 0.9% |
| Stratford | £251 | £289 | -13.0% |
| ＋Midtown | £496 | £459 | 7.9% |
| Bloomsbury | £470 | £433 | 8.5% |
| Clerkenwell / Farringdon | £539 | £533 | 1.1% |
| Holborn | £592 | £464 | 27.5% |
| ＋North London | £461 | £486 | -5.2% |
| Camden | £538 | £513 | 4.8% |
| Islington | £398 | £457 | -13.0% |
| ＋Southbank / SE1 | £535 | £544 | -1.6% |
| Vauxhall / Battersea | £590 | £592 | -0.4% |
| Waterloo / Southwark / London Bridge | £521 | £532 | -2.2% |
| ＋West End | £644 | £611 | 5.4% |
| Covent Garden | £562 | £546 | 2.8% |
| Marylebone | £549 | £593 | -7.4% |
| Mayfair / St James’s | £639 | £555 | 15.3% |
| Noho | £735 | £775 | -5.2% |
| Soho | £891 | £921 | -3.4% |
| Victoria | £677 | £688 | -1.5% |
| ＋West London | £510 | £507 | 0.6% |
| Chiswick | £405 | £405 | 0.0% |
| Hammersmith | £508 | £495 | 2.7% |
| Kensington | £390 | £380 | 2.6% |
| Knightsbridge / Belgravia | £626 | £632 | -1.0% |
| Paddington | £503 | £499 | 0.7% |
| Shepherds Bush | £594 | £595 | -0.1% |
| Central London | £557 | £539 | 3.3% |
City of London
Asking prices in the City reached £585 per desk at the end of the third quarter, marking an increase of 4.3% compared to Q2. Mid-sized offices were the primary driver of this price appreciation, while pricing for desks in small offices declined by 1.7%.
The City remains the most pricy area for London office space after the West End. Liverpool Street was the most expensive district in the City of London in Q3 at £658 per desk, followed by Monument/Fenchurch Street with asking prices at £600 per desk.
Pricing by office size:
- 1 to 5 desks: £696
- 6 to 10 desks: £696
- 11 to 20 desks: £682
- 20+ desks: £569
Pricing brackets:
- Economical: £589 per desk
- Mid-range: £746 per desk
- High-end: £981 per desk
Most expensive areas:
- Liverpool Street: £658 per desk
- Monument / Fenchurch Street: £600 per desk
- St Paul’s / Bank: £459 per desk
Docklands
In the Docklands, Canary Wharf averaged £525 per desk at the end of September after a small increase of 0.3%. Pricing grew mainly at the 6-to-10 desk range, while 1-to-5-desk spaces fell by approximately the same amount. Economical desks (defined as the 25th percentile median out of all private office prices here) climbed 9.2% to £374, the area’s strongest bracket-level gain.
Pricing by office size:
- 1 to 5 desks: £461
- 6 to 10 desks: £434
- 11 to 20 desks: £450
- 20+ desks: £532
Pricing brackets:
- Economical: £374 per desk
- Mid-range: £444 per desk
- High-end: £631 per desk
Most expensive areas:
- Canary Wharf: £525 per desk
East London
Average asking prices rose 1.8% in East London to reach £503 per desk in Q3, with most of the movement at the cheaper end of the area. Bethnal Green / Hackney asking prices saw significant appreciation, while Stratford prices moved in the opposite direction and became the most affordable district in our study at the end of Q3. Spitalfields / Aldgate held on as the area’s most expensive district at £596 per desk.
Pricing by office size:
- 1 to 5 desks: £434
- 6 to 10 desks: £432
- 11 to 20 desks: £491
- 20+ desks: £515
Pricing brackets:
- Economical: £344 per desk
- Mid-range: £577 per desk
- High-end: £769 per desk
Most expensive areas:
- Spitalfields / Aldgate: £596 per desk
- Old Street / Shoreditch: £515 per desk
- Bethnal Green / Hackney: £357 per desk
Midtown
Midtown recorded the strongest quarterly price growth of any London area, with average asking prices up 7.9% to £496 per desk. Holborn did most of the lifting, climbing to £592 per desk and overtaking Clerkenwell / Farringdon (£539) as the area’s priciest district. Larger offices led the move, with 11-to-20-desk spaces up 9.1% and 20+ desk offices up 7.8%, while the smallest offices went the other way, down 4.2%.
Pricing by office size:
- 1 to 5 desks: £542
- 6 to 10 desks: £561
- 11 to 20 desks: £586
- 20+ desks: £481
Pricing brackets:
- Economical: £509 per desk
- Mid-range: £630 per desk
- High-end: £808 per desk
Most expensive areas:
- Holborn: £592 per desk
- Clerkenwell / Farringdon: £539 per desk
- Bloomsbury: £470 per desk
North London
North London saw the steepest decline of any London area, with average asking prices down 5.2% to £461 per desk. Islington accounts for the majority of the price discount, while Camden moved the opposite way and entrenched itself as the area’s most expensive district.
Pricing by office size:
- 1 to 5 desks: £533
- 6 to 10 desks: £469
- 11 to 20 desks: £420
- 20+ desks: £465
Pricing brackets:
- Economical: £425 per desk
- Mid-range: £605 per desk
- High-end: £909 per desk
Most expensive areas:
- Camden: £538 per desk
- Islington: £398 per desk
Southbank / SE1
Southbank / SE1 asking prices eased 1.6% to £535 per desk, one of only two London areas where prices fell this quarter. Both districts with reportable inventory softened: Vauxhall / Battersea kept the top spot at £590 per desk after a slight dip in prices, while Waterloo / Southwark / London Bridge fell 2.2% to £521. Pricing depreciation mostly took place in the mid-range office category, as the economical bracket ran against the area trend, rising 11.0% to £444 per desk.
Pricing by office size:
- 1 to 5 desks: £436
- 6 to 10 desks: £492
- 11 to 20 desks: £520
- 20+ desks: £539
Pricing brackets:
- Economical: £444 per desk
- Mid-range: £626 per desk
- High-end: £816 per desk
Most expensive areas:
- Vauxhall / Battersea: £590 per desk
- Waterloo / Southwark / London Bridge: £521 per desk
West End
The West End stays London’s most expensive area for flex office space, with average asking prices up 5.4% on the quarter to £644 per desk. The increase is mainly attributable to Mayfair / St James’s, which rose to £639, and from the largest offices, where 20+ desk pricing gained 6.9% in average asking rent. Meanwhile, every other size category declined in asking price. Soho remains the priciest district in London at £891 per desk despite a 3.4% quarterly dip, followed by Noho at £735.
Pricing by office size:
- 1 to 5 desks: £716
- 6 to 10 desks: £761
- 11 to 20 desks: £730
- 20+ desks: £628
Pricing brackets:
- Economical: £621 per desk
- Mid-range: £808 per desk
- High-end: £1118 per desk
Most expensive areas:
- Soho: £891 per desk
- Noho: £735 per desk
- Victoria: £677 per desk
West London
West London finished the quarter close to even, averaging £510 per desk after a marginal increase. Knightsbridge / Belgravia held its position as the area’s most expensive district at £626 per desk, with Shepherds Bush close behind at £594. Mid-sized offices made the biggest moves: 11-to-20-desk spaces rose 6.3% and 6-to-10-desk spaces 5.4%, while the smallest offices fell 3.5%.
Pricing by office size:
- 1 to 5 desks: £540
- 6 to 10 desks: £681
- 11 to 20 desks: £604
- 20+ desks: £496
Pricing brackets:
- Economical: £474 per desk
- Mid-range: £712 per desk
- High-end: £1032 per desk
Most expensive areas:
- Knightsbridge / Belgravia: £626 per desk
- Shepherds Bush: £594 per desk
- Hammersmith: £508 per desk
London Market Rent Guide: Q3 2026 Office Report
Click an area to explore its locations.
| Location | Economical | Mid-range | High-end | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Q3 2026 | Q2 2026 | Q-o-Q | Q3 2026 | Q2 2026 | Q-o-Q | Q3 2026 | Q2 2026 | Q-o-Q | |
| City of London | £589 | £579 | 1.8% | £746 | £725 | 2.9% | £981 | £912 | 7.5% |
| Liverpool Street | £557 | £553 | 0.8% | £753 | £715 | 5.2% | £1,004 | £947 | 6.0% |
| Monument / Fenchurch Street | £632 | £626 | 0.9% | £757 | £757 | 0.0% | £982 | £1,034 | -5.1% |
| St Paul’s / Bank | £609 | £596 | 2.1% | £713 | £738 | -3.3% | £867 | £824 | 5.2% |
| Docklands | £374 | £343 | 9.2% | £444 | £470 | -5.5% | £631 | £586 | 7.6% |
| Canary Wharf | £374 | £343 | 9.2% | £444 | £470 | -5.5% | £631 | £586 | 7.6% |
| East London | £344 | £362 | -4.9% | £577 | £576 | 0.2% | £769 | £764 | 0.6% |
| Bethnal Green / Hackney | £198 | £200 | -0.8% | £254 | £251 | 1.3% | £339 | £448 | -24.4% |
| Old Street / Shoreditch | £494 | £509 | -3.0% | £663 | £657 | 1.0% | £852 | £839 | 1.6% |
| Spitalfields / Aldgate | £367 | £423 | -13.2% | £562 | £602 | -6.6% | £746 | £735 | 1.4% |
| Stratford | £172 | £158 | 8.5% | £202 | £228 | -11.4% | £241 | £320 | -24.7% |
| Midtown | £509 | £505 | 0.8% | £630 | £638 | -1.2% | £808 | £833 | -3.0% |
| Bloomsbury | £514 | £519 | -0.9% | £624 | £635 | -1.8% | £792 | £816 | -3.0% |
| Clerkenwell / Farringdon | £544 | £539 | 0.9% | £715 | £666 | 7.4% | £879 | £966 | -9.0% |
| Holborn | £483 | £368 | 31.3% | £641 | £533 | 20.2% | £806 | £755 | 6.8% |
| North London | £425 | £400 | 6.2% | £605 | £623 | -2.9% | £909 | £909 | 0.0% |
| Camden | £426 | £369 | 15.5% | £615 | £586 | 5.0% | £842 | £885 | -4.7% |
| Islington | £414 | £419 | -1.1% | £517 | £586 | -11.7% | £930 | £885 | 5.1% |
| Southbank / SE1 | £444 | £400 | 11.0% | £626 | £648 | -3.3% | £816 | £795 | 2.6% |
| Vauxhall / Battersea | £236 | £240 | -1.8% | £292 | £261 | 11.7% | £649 | £489 | 32.5% |
| Waterloo / Southwark / London Bridge | £514 | £506 | 1.5% | £643 | £660 | -2.5% | £828 | £839 | -1.4% |
| West End | £621 | £625 | -0.7% | £808 | £833 | -3.0% | £1,118 | £1,142 | -2.1% |
| Covent Garden | £557 | £547 | 1.9% | £751 | £776 | -3.2% | £1,088 | £1,036 | 5.1% |
| Marylebone | £555 | £545 | 1.9% | £687 | £732 | -6.2% | £894 | £1,100 | -18.8% |
| Mayfair / St James’s | £733 | £730 | 0.4% | £942 | £907 | 3.8% | £1,247 | £1,248 | -0.1% |
| Noho | £570 | £563 | 1.2% | £766 | £766 | -0.1% | £987 | £1,013 | -2.6% |
| Soho | £640 | £664 | -3.7% | £775 | £875 | -11.4% | £1,000 | £1,112 | -10.1% |
| Victoria | £477 | £556 | -14.1% | £676 | £667 | 1.3% | £931 | £947 | -1.7% |
| West London | £474 | £525 | -9.8% | £712 | £689 | 3.4% | £1,032 | £999 | 3.3% |
| Chiswick | £400 | £400 | 0.0% | £423 | £433 | -2.2% | £666 | £666 | 0.0% |
| Hammersmith | £494 | £527 | -6.3% | £618 | £642 | -3.6% | £820 | £783 | 4.7% |
| Kensington | £368 | £345 | 6.5% | £478 | £532 | -10.3% | £884 | £709 | 24.7% |
| Knightsbridge / Belgravia | £625 | £650 | -3.8% | £952 | £927 | 2.7% | £1,211 | £1,146 | 5.6% |
| Paddington | £571 | £550 | 3.8% | £675 | £675 | 0.0% | £873 | £986 | -11.5% |
| Shepherds Bush | £455 | £455 | 0.0% | £543 | £548 | -0.8% | £609 | £609 | 0.0% |
| Central London | £519 | £519 | 0.0% | £699 | £699 | 0.0% | £945 | £943 | 0.2% |
Methodology
Prices by area and private office size represent weighted averages based on live listings on Hubble.
Minimum listing counts to be included in the study:
- Average overall desk price: at least 10 private office listings for areas (e.g. East London, Midtown), at least 5 private office listings for district-level location (e.g. Liverpool Street, Bloomsbury)
- Average desk price by private office size: at least 5 private office listings in a size group for areas (e.g. East London, Midtown), at least 3 private office listings in a size group for district-level location (e.g. Liverpool Street, Bloomsbury)
Q2 2026 figures are based on prices extracted at the end of June 2026, while Q3 2026 figures represent prices extracted at the end of September 2026. See the Q2 2026 London flex office report for the previous quarter’s figures.
Office pricing categories were defined as:
- Economical: the pricing value that is equivalent to the 25th percentile of all office prices in an area.
- Mid-range: the pricing value that is equivalent to the median of all office prices in an area.
- High-end: the pricing value that is equivalent the 75th percentile of all office prices in an area.
For example, if an area has 100 listed spaces, the 25th-cheapest price represents the Economical pricing value, the 50th-cheapest price represents the Mid-range cost point and the 75th-cheapest price represents the High-end pricing value.
