In 2022, there were over one million active businesses in London. Combined with the South East of England, this accounted for over a third of the UK’s businesses. As the nation’s capital and hub for business, London remains a top destination for startups and SMEs.
Finding affordable office space in Central London can be challenging. In 2023, office demand in London exceeded the 10-year average. However, with working from home becoming more commonplace, businesses have an opportunity to get more value out of smaller spaces.
Whether it’s a large team no longer needing to share the same space every working day or employees strictly sticking to working from home, downsizing to a small office may be a more practical solution for your business.
Downsizing isn’t always negative, which we’ll explore below with premium locations in London for your business needs.
A Prime Address Without the High Costs
While expansion and growth are often represented through moving to bigger, busier offices, this isn’t always the case. Sometimes, moving to a smaller office can bring distinct advantages, such as finding yourself in a more prime location.
After all, downsizing to a small office can give you access to a sought-after business location minus the commitment to large overheads. Finding a small office to rent in Central London could therefore allow your business to maintain an upscale image at a fraction of the price.
The Advantages of Small Office Space for Established Businesses
When it comes to office space, less can often mean more. Small workspaces have plenty to offer and well-designed small office spaces can elevate your business in several ways.
Professional Image
For businesses situated in the heart of London, small office space can help to cultivate a professional and polished image. Setting up your business with a well-known address will give it credibility and attract or impress new clients.
You can also opt for a smaller, customised office space. These bring their advantages, including giving clients a strong and immediate impression of your brand.
Convenience and Amenities
Experienced professionals and emerging talent alike often prioritise working in offices within easy reach of transport hubs. This means finding a small office space for rent in London’s hotspots is great for attracting and retaining employees.
A small office for rent in a managed building allows businesses to capitalise on communal spaces and facilities. While paying for a small office, you can still enjoy some of the perks usually found in larger office buildings, such as on-site parking and in-house gyms.
It’s workplace amenities like these that can have a positive impact on employee wellbeing.
Flexibility and Scalability
Renting small office space is a great way to keep costs down while allowing room to grow. Workspaces that support seamless communication with hybrid workers offer businesses the ultimate flexibility.
Startups and established businesses alike should therefore prioritise fully-connected serviced office space.
Prestigious Location
Smaller spaces can put your business in prime areas without overstretching your budget. Renting a small office space in an area renowned within your industry provides instant credibility.
Having an office in a prestigious location can also elevate your business. For example, a small office space in Marylebone places you amongst global and high-quality brands such as Estee Lauder, Selfridges, and Coca-Cola. This adds a level of gravitas that appeals to both clients and potential employees.
Premium Locations for Your Business Needs
There are plenty of offices to rent in London. The key to success is finding the right location and workspace for your business. Here are some of London's best options to help you find small office space to rent near your ideal location.
Trafalgar Square, Westminster
A short walk from Charing Cross Station, our Trafalgar Square centre is perfect for commuters. The 1820s building combines historical architecture with a modern interior. It has plenty of natural lighting as well as breakout spaces for collaboration.
Soho and the Southbank are both within easy walking distance. This makes the area particularly popular with businesses in the creative industries. From West End musicals to Covent Garden eateries, there are plenty of ways to entertain clients here.
Highlights include:
● 64 private offices
● 9 coworking spaces
● 8 meeting rooms
● Disabled access
● Vending machines
Information about Trafalgar Square, Westminster
● Location: 1 Northumberland Avenue, London SW1A 2DR
● Starting costs: Private Offices £239 per person per month
● Opening hours: 9 am to 5:30 pm, Monday to Friday - Private Office and Dedicated Desk access is available 24/7
● Nearby Stations: Charing Cross Train Station (three minutes walk away), Charing Cross Tube Station (two minutes walk away), Embankment Tube Station (five minutes walk away), and Piccadilly Circus (10 minutes walk away)
Strand Charing Cross, Westminster
If you want to impress clients with slick design in a well-located office, Strand Charing Cross is worth exploring.
It’s accessible by train, bus, and tube. It’s also within walking distance of many of London’s landmarks, galleries, and museums. This makes it a prime location for networking and entertaining.
Highlights include:
● 97 private offices
● 21 coworking spaces
● 5 meeting rooms
● Disabled facilities
● Shower facilities
Information about Strand Charing Cross, Westminster
● Location: 8 Duncannon Street London WC2N 4JF
● Starting costs: Private Offices £269 per person per month
● Opening hours: 9 am to 5:30 pm, Monday to Friday - Private Office and Dedicated Desk access is available 24/7
● Nearby stations: Charing Cross Train Station (two minutes walk away), Charing Cross Tube Station (one minute walk away), Embankment Tube Station (five minutes walk away), and Piccadilly Circus Tube Station (eight minutes walk away)
Covent Garden, St Martin's Lane
60 St Martin's Lane is another fantastic option for a small office in the heart of London’s creative hub. Equipped with breakout spaces and open-plan kitchens, it’s perfect for brainstorming. There are also many comfortable corners with task lighting to encourage productivity.
Minutes from Covent Garden, Leicester Square, and Charing Cross tube stations, it’s an ideal location for commuters. It’s also close to various restaurants, galleries, and theatres. This is great for employee work-life balance as well as impressing clients.
Highlights include:
● 113 private offices
● 12 coworking spaces
● 6 meeting rooms
● Disabled facilities
● Shower facilities
● Bicycle storage
● Secure underground parking
Information about Covent Garden, 60 St Martin’s Lane
● Location: 60 St Martins Lane London WC2N 4JS
● Starting costs: Private Offices £439 per person per month
● Opening hours: 9 am to 5:30 pm, Monday to Friday - Private Office and Dedicated Desk access is available 24/7
● Nearby stations: Charing Cross Train Station (six minutes walk away), Leicester Square Tube Station (two minutes walk away), Covent Garden Tube Station (four minutes walk away), and Charing Cross Tube Station (five minutes walk away)
Regent Street St James's
Regent Street St James's offers a slick and modern feel that creates a strong first impression. A stone’s throw from the West End and several luxury hotels, this is a premium London office location right in the heart of Central London.
With Buckingham Palace within walking distance, the surrounding area is renowned for private clubs and high-end shops. It’s also home to many pharmaceutical, software, and investment companies.
With a rooftop terrace and lounge breakout areas, this is a great place to collaborate and entertain. It’s only a short walk from Piccadilly Circus and Charing Cross. The building also has bike storage and shower facilities for active commuters.
Highlights include:
● 84 private offices
● 12 coworking spaces
● 6 meeting rooms
● Disabled facilities
● Bicycle storage
● Outside seating area/terrace
Information about Regent Street, St James's
● Location: 4-12 Regent Street London SW1Y 4PE
● Starting costs: Private Offices £439 per person per month
● Opening hours: 9 am to 5:30 pm, Monday to Friday - Private Office and Dedicated Desk access is available 24/7
● Nearby stations: Charing Cross Train Station (10 minutes walk away), Piccadilly Circus Tube Station (three minutes walk away), Green Park Tube Station (11 minutes walk away)
Discover the Hidden Gems: London Neighbourhoods with Lower Rental Costs
A fantastic way to maximise your rental budget is by exploring some of the neighbourhoods surrounding Central London. Many of these areas are still accessible to commuters. They also offer an array of dining and entertainment for clients but with lower rental costs.
Waterloo Office Space
Waterloo is a major transport hub. This makes it a great option for inner-city commuters and travellers from further afield. It’s also close to London’s Southbank, an ideal destination for entertaining clients.
141-142 Lower Marsh Road, Westminster
141-142 Lower Marsh Road is perfect for businesses looking to grow. With Waterloo and Westminster stations nearby, it offers an easy commute. It’s also less than nine miles from London City Airport.
With top landmarks like Big Ben and The London Eye within walking distance, it’s a prime location for dazzling clients. It’s also close to coffee shops, restaurants, and bars, which is ideal for networking.
Information about 141-142 Lower Marsh Road, Westminster
● Location: 141-142 Lower Marsh Road London SE1 7EA
● Starting costs: Private Offices £255 per person per month
● Opening hours: 8.30 am to 5:30 pm, Monday to Friday - Private Office and Dedicated Desk access is available 24/7
●Nearby stations: Waterloo Train Station (seven minutes walk away), Lambeth North Tube Station (three minutes walk away), Waterloo Tube Station (seven minutes walk away), and Westminster Tube Station (10 minutes walk away)
Farringdon Office Space
Farringdon is a great location for those who want to be close to London’s financial district. Modern, stylish, and within easy reach of major hubs, it’s a popular area for up-and-coming businesses.
The recently rebuilt tube station and the nearby overground make it a commutable and desirable location. The array of modern developments has turned this into a fashionable area for Londoners to live and work.
Farringdon, Islington
77 Farringdon Road offers a variety of small workspaces across seven floors. Whether you want office suites, coworking spaces, or hot desks, this building has it all.
Complete with two small terraces and a private roof terrace, this building is sure to impress. It has several boardroom-style meeting rooms. There are also breakout areas to encourage collaboration and creativity. For days when you need to get your head down, there are plenty of quiet corners with task lighting.
With offices available to rent on a flexible basis, you can scale membership up or down depending on your business needs.
Highlights include:
● 66 private offices
● 8 coworking spaces
● 5 meeting rooms
● Disabled facilities
● Bicycle storage
● Shower facilities
● Parking
Information about 77 Farringdon Road, Islington
● Location: 77 Farringdon Road London EC1M 3JU
● Starting costs: Private Offices £479 per person per month
● Opening hours: 8.30 am to 6:00 pm, Monday to Friday - Private Office and Dedicated Desk access is available 24/7
● Nearby stations: Farringdon Train Station (three minutes walk away), Farringdon Tube Station (three minutes walk away), Chancery Lane Tube Station (nine minutes walk away)
Cost-Effective Alternatives
Keeping costs as low as possible can be vital for startups and SMEs. If renting a small office is beyond your current budget, there are many cost-saving alternatives you can explore.
Shared office spaces
Shared offices are a fantastic way to minimise costs while still getting the benefits of an office environment.
By sharing a floor of offices, you can access everything you need without the overheads. Plus, you’ll be coworking next to other businesses and professionals. Opening up huge opportunities for collaboration and connection.
Offices by the day
Daily office rentals help minimise costs by allowing you to hire office space only when you need it.
For a few hours or days at a time, you can rent a professional, well-equipped environment in a central location. This makes team brainstorming, client meetings, and project catch-ups easy and affordable.
Find Your Perfect Small Business Workspace
London is a fantastic hub for all sorts of businesses. While large office spaces in prime locations come at a premium, downsizing to a small office can give businesses access to these locations at a fraction of the price.
Areas like Covent Garden and Westminster offer plenty of opportunities for networking and entertaining clients. Several surrounding suburbs offer lower rents while remaining connected to the city’s business hotspots.
There’s no one-size-fits-all when it comes to finding the right workspace for your business. That’s why our specialists are on hand to help. To find the perfect small office to rent in Central London, get in touch with our Regus office experts today.
