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A Guide to Office Space in London

Posted on: 18th October 2022

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A Guide to Office Space in LondonA Guide to Office Space in London

London is a bustling metropolis of business, culture and commerce. As the UK’s largest city, it attracts people from all over the world thanks to the opportunities it offers. Jobs in a huge variety of sectors, from finance to entertainment; studying at some of the UK’s best educational institutions; and the best cultural scene in the country - it’s no wonder that working in London is such an attractive prospect, especially for the younger demographic.

Nearly half (46.2%) of the inner London population is aged between their early twenties and early forties, which is much higher than the rest of England, where just 30.8% of the population falls within this age bracket. That means businesses looking for a rental office in London have access to the most expansive workforce in the UK - perfect for growing businesses looking to recruit new and up-and-coming talent.

The city isn’t just the UK’s centre of economics, but according to the Global Financial Centres Index (CFC 31), it’s also one of the world’s leading financial centres. London’s population is around a tenth of the total UK population, but the capital is responsible for just less than a quarter (23.3%) of the UK’s GDP, according to ONS data. That makes it an exciting place to set up a business - and indeed, many of the world’s biggest companies have made London their home, not just those operating within the finance sector but from a diverse range of industries, too.

In 2021, there were over 1 million private sector companies headquartered in London according to government business population estimates. Home to established institutions like the BBC and the Bank of England as well as emerging companies, London is an entrepreneurial city, with more than 18,000 new tech start-ups founded in 2021, according to tax and consulting firm RSM UK. So, no matter what industry you work in, London is a great place to be part of the hustle and bustle and join a community of like-minded business owners.

And let’s not forget the other benefits of office rentals in London . With the extensive tube, overground and bus networks, it couldn’t be easier to get around, whether your office is in the City or in the suburbs. There’s a whole host of networking events where you can meet potential new clients and other business owners, as well as world-class dining venues - perfect for hosting those all-important business lunches.

The top business areas in London

In a city as big as the capital, there are plenty of places to choose from when it comes to finding the perfect London office, serviced office or coworking space. From the traditional business and finance districts to up-and-coming areas that are perfect for start-ups, there’s a business area to suit every type of company in London. Let’s take the top five business areas that you should consider when looking for offices to rent in London.

 

City of London

The City of London - usually just called the City, or sometimes the Square Mile - is 1.12 square miles in the heart of London. The City is the financial centre of London, home to major financial institutions including the London Stock Exchange, Lloyd’s of London and the Bank of England, so if you’re in the finance sector and looking for an office space to rent in London, the City could be the perfect choice for you.

But the City isn’t just for financial institutions. You’ll also find a number of law firms headquartered in the City, as well as several global companies like Unilever and Aviva. If you want a prestigious office address in one of the world’s leading commercial centres alongside some of the biggest global brands, then consider a London office lease in the Square Mile for your next move.

 

Canary Wharf

Along with the City of London, Canary Wharf makes up London’s Central Business District. Located on the West India Docks on the Isle of Dogs, Canary Wharf has undergone a radical transformation since the late 1980s, when work began to develop it into a thriving business area.

Like the City, Canary Wharf is home to many banks including the global headquarters of HSBC and Barclays.

You’ll also find a range of other organisations in Canary Wharf, including The Economist Group and Thomson Reuters. If you want to be surrounded by national and global businesses in some of the UK’s tallest buildings, consider an office space in Canary Wharf .

 

Westminster

Westminster is, of course, the home of UK politics and the district has 650,000 people working there every day. But not all of those people work in politics, and there’s a wider range of businesses than you might expect in the area.

In Westminster, you’ll find the main campuses of three of the top-rated universities in the world - Imperial College London, King’s College London and the London School of Economics and Political Science (LSE) - as well as businesses in other sectors including hedge funds and media companies. An office in Westminster could be the perfect place for you to drive your business forward.

 

Camden

Camden, famous for its markets, is also the perfect place for start-ups and growing businesses. It’s a dynamic place to work, full of up-and-coming businesses. That means there’s lots of opportunity for collaboration with other businesses, and a wide talent pool to draw from when it comes to expanding your own company. Camden is particularly popular with businesses in the tech, creative and professional services industries - and it’s also the home of the Knowledge Quarter, where you’ll find a wealth of science and knowledge-based institutions across the technology, data, life sciences and creative industries.

Whether you’re looking for an office space in Camden or a coworking space, there are plenty of options for start-ups looking for a thriving place in which to base their business.

 

London Bridge

The London Bridge area is one of the oldest in the capital - but it’s not all ancient history. Today, it’s home to a wide range of exciting businesses across multiple sectors. Home to iconic office buildings like the Shard, an office in London Bridge offers a prestigious address for any business. There’s no one industry that particularly dominates in London Bridge , so it’s the perfect choice for all types of businesses looking for London offices - it’s the ideal city centre location.

Business travel in London

London is one of the best connected cities in the world, so no matter where you base your business - from a workspace in Westminster to a coworking space in Camden - it couldn’t be easier to get to your office space.

The Transport For London (TfL) network comprises the London bus system and the London underground and overground networks, connecting 9 zones, 11 tube lines and 9 overground routes. That makes it easy to get from home to the office - and out to meet key clients, colleagues and customers in other areas.

Each of the key business districts is easily accessible with excellent transport links. The journey from Westminster to Canary Wharf can be done in under 30 minutes on the Jubilee line, for example, without any changes.

As well as the TfL network, London has four major airports - London City, Gatwick, Stansted and Heathrow - making it simple to get from your office space to any location, national or global. It takes just half an hour to get from the City of London to London City Airport, and just 45 minutes from Camden to Heathrow.

London’s entertainment

London isn’t just great for work - it’s also a fantastic place to entertain clients, build relationships with your team members, and grow a professional network. Wherever you rent an office in London, it’s sure to be just a stone’s throw from a host of new spots for business lunches. Chinatown is always a firm favourite for local office workers looking for delicious food and to catch up with important clients, while other areas like Covent Garden in London’s West End offer a range of options from well-known chains to independent eateries, serving as a social and cultural hub within easy commuting distance of a range of business areas including London Bridge and the City of London.

As one of the world’s leading entertainment centres, London’s also the perfect place to entertain clients after work. Consider taking international clients to see a show in London’s famous West End, or to visit some of London’s oldest pubs along Fleet Street in the City of London.

London is also one of the best place in the UK for business networking. After a working week, the business population pours out into the surrounding areas to relax, unwind and enjoy what London has to offer.  So, taking the time to explore these social venues in London is a great way to meet new people and even open up networking opportunities in a more relaxed environment.

How much is it to rent office space in London?

Office rent in London varies across the different districts of London. We’ve outlined a few of the business districts in London below, along with the office pricing you can expect for each area.

 

Area

Price range for office rent
(per person each month)

Kensington and Chelsea

From £269

Islington

From £239 to £559

Southwark

From £245 to £455

Westminster

From £215 to £589

Hammersmith

From £269 to £459

City of London

From £245 to £559

Wandsworth

From £509

Sutton

From £209

Richmond

From £209 to £ 285

New Malden

From £349

Lewisham

From £236

Lambeth

From £179

 

Hounslow

From £179 to £349

Hillingdon

From £179 to £245

Harrow

From £209

Hackney

From £239 to £559

Enfield

From £205

Ealing

From £239

Croydon

From £185

Camden

From £195 to £559

Bromley

From £229

Brentford

From £349

Barnet

From £315

 

As well as these central areas, there’s also a huge number of office spaces further afield in London, from Croydon to Hammersmith . Whether you choose to rent an office space or simply want to pop in and rent a meeting room, these less central offices are the perfect solution, particularly for hybrid workers who want an office space closer to home.

How to find an office space in London

Whether you’re looking for a private office, or want to rent a desk in a coworking space, there are options for businesses of every size in London. But what should you take into account when choosing the right rental office in London?

Transport links

Whether you’re working full-time from the office or employing a hybrid approach, an easy commute to the office is crucial - and good transport to your London office space is even more important if you regularly have clients visiting. Consider whether it’s important for you to be close to a tube station, near a major train station like Euston, Kings Cross or Liverpool Street, or within easy reach of an airport.

Local amenities

Is it important to you to be in an area with a vibe that matches your business? Maybe you want to be close to lots of bars and restaurants where you can meet up with new business prospects or catch up with colleagues after work. Or do you want to be surrounded by similar businesses, in an office space that has all the amenities you need, from a gym to a coffee shop.

Networking opportunities

Do you want the opportunity to connect with other business owners? If you want to get to know others in your industry - and beyond - then consider a London office space where networking is at the forefront. A coworking space offers the perfect opportunity to collaborate with others - whether you’re looking to find new business clients, other companies to work with on projects, or simply meet others on your wavelength.

Opportunity for expansion

Consider what size you need your office space to be. While you might only need a few desk spaces at the moment, if you’re looking to grow your business in the future, you’ll need a flexible office with room to expand when you need. Keep your future plans in mind when looking at London office rentals, and make sure to choose one that suits your needs both now and in the future.

Interesting facts about London

Need any more reasons to rent an office space in London? How about these interesting facts?

 

Why you should rent an office in London

From incredible networking opportunities to rubbing shoulders with some of the biggest businesses in the world, London is one of the most exciting places in the world to have a business. Whatever type of business you have, and wherever you want to be based, there’s a huge range of office spaces for you to choose from. Find your perfect London office here at Regus today.

 

 

 

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