What can you expect from office space prices in London?

Worried about office space prices in London? We don’t blame you – London is one of the world’s most important business hubs, and just to try and get a slice of the pie can cost a small fortune. London is a global city, and alongside New York, it makes up one of the only two cities worldwide to have a coveted Alpha++ rating, indicating the highest importance financially, commercially and culturally.

It really shouldn’t be a surprise that Britain’s richest city by a long way is also the most pricey. Anyone who has lived or worked in London can testify to how unreasonably expensive it can get. This can include anything from incredibly pricey property to high costs of commuting. Hell, it’s even a fiver for “artisan” coffee or a smoothie, which we think is a rip-off (even more baffling is that people actually pay it!). 

Costs of traditional office spaces in London

Nowhere else is this trend of costliness more clear than for anyone looking for office space. In a financial hub such as London, with limited space, it’s only natural that the prices of commercial real estate go through the roof. Let’s have a look at what traditional office space prices in London are like in a few areas:

The City of London: Known as the financial district, this very pricey area commands prices ranging from £70 to £90 per square foot in rent, possibly higher. The City of London is historic and home to many large banks (including the Bank of England) and other financial powerhouses – its appeal is not only due to this, but to historical significance, excellent transport links, and prestige. Limited space drives up prices.

City Fringe: This area, including neighbourhoods like Shoreditch and Clerkenwell, offers office spaces priced between £65 and £80 per square foot in rent. It attracts startups, tech companies, and creative industries due to its vibrant atmosphere and regeneration. While still fairly expensive, due to their less central location, offices here are less expensive than in central London.

West End: The West End, with very high prices averaging £85 to £95 per square foot in rent, is famous for culture, entertainment, and tourism. It is home to London’s theatres and other places of culture such as Royal Albert Hall. Due to prestige and heavy foot traffic, retailers often pay top dollar for floor space here, though office space also remains expensive.

Mayfair: It’s the most expensive property in Monopoly for a reason. The luxury office spaces here are priced astronomically, from a staggering £100 to £150 per square foot in rent. It’s no wonder, considering the area is filled with luxury hotels, mansions and supercars, with a reputation for being at the very high end.

For more information, consider reading this report.

Prices of coworking spaces in London

So, if we’re talking more affordable office space prices in London, what about coworking spaces? (You could probably tell where this was leading).

They have many benefits which we will list below, but one of the largest is the comparative cost effectiveness instead of renting traditional office spaces, especially for small businesses. Coworking spaces can be found everywhere in London – in fact, with around 1,400, it’s the city with the most in the world. From the centre to every part of London, they can be found so there’s even more reason to start using one!

Our two Venture X UK locations are in the ever-thriving West London at Chiswick Park and White City. Here are some additional benefits you can expect at a coworking space such as ours:

Office space benefits at Venture X, West London

• • Ergonomic furniture: Venture X in West London makes sure to provide super comfy ergonomic chairs and desks. The workspace is designed with you in mind, making sure you can work for long hours without feeling tired.
  • Lightning-fast internet: In today’s digital age, having fast and reliable internet is a must. Venture X understands this and gives you two lightning-fast internet connections so you can always do everything online without any trouble – whether it’s uploading big files or joining a video call.
  • Ready to go: No need to worry about setting up your office – we provide fully furnished spaces so you can start working right away, whether that’s in a private office space or in a shared hot-desking area.
  • Private Meeting Rooms: Make use of our bookable private meeting rooms on site, providing a professional and quiet space for meetings.
  • Private Phone Booths: For important calls or video meetings that require privacy and more peace than the office can provide, you can make use of our private phone booths in both our Chiswick Park and White City locations. In our Chiswick Park location, there are small private pods outside for meetings and phone calls too, set by the lawns and lakes.

• Access to Members’ Events: Venture X is not just a place to work. At both our West London locations, we organise regular networking events where you can meet other professionals. These events not only make your work life more rewarding but allows you to meet like-minded people you may be able to collaborate with.

• Community Management Team: Always on hand for assistance, our team will gladly help should you encounter any issues during your time with us.
• Tea and coffee. We won’t rip you off and charge a fiver, it’s on us! Honest.

 

Coworking / Office Space in London Packages and Costs

Now, for the packages we can offer you, depending on your desired benefits. Most importantly, note the different prices for comparison to the traditional office spaces of London.

Community Membership:

Our most basic package is that of community membership. This is fantastic for those who generally only need to work from the office a handful of times each month. Starting at £160 per month (plus VAT), included are all the benefits listed above, plus a total of five day passes per month, allowing for hot desking on whichever days you choose to come in.

Includes:

• • Ergonomic furniture
  • Private phone booths
  • Global lounge access
  • Secure IT
  • Meeting rooms on-demand
  • Members discounts
  • Events programme
  • Community Management team

• Day passes x5

Hot Desk:

If you work from the office more regularly – seeking somewhere more comfortable, or a more professional environment perhaps – then perhaps a hot desking package is right for you? 

You will have the same benefits as above, only instead of limited day passes, you can enjoy 24/7 access to the office so you can start working as early, late or as frequently as you choose. 

Your membership will give you access to the hot desking area, so it’s a case of turning up and using whichever desk you want that someone else isn’t already sitting at! Hot desk at Venture X for a price starting from just £280 per month (plus VAT).

Includes:

• • Ergonomic furniture
  • Private phone booths
  • Global lounge access
  • Secure IT
  • Meeting rooms on-demand
  • Members discounts
  • Events programme
  • Community Management team

• 24/7 access

Dedicated desk:

Feeling at home in the office? Prefer to have a permanent desk you can always sit at every time you come in? Well, the dedicated desk is for you. 

Alongside a permanent place to work inside Venture X, you can also benefit from having on-site lockable storage for your things, alongside making Venture X your virtual office, the benefits of which are discussed further here. Gain your very own dedicated desk starting from just £480 per month, plus VAT.

Includes:

• • Ergonomic furniture
  • Private phone booths
  • Global lounge access
  • Secure IT
  • Meeting rooms on-demand
  • Members discounts
  • Events programme
  • Community Management team

• 24/7 access

• Dedicated desk

• Lockable storage

• Virtual office

Private office:

Need more space for your employees? Venture X is here for you. Starting from £500 per month, per desk (plus VAT) you can enjoy a private office space within our building, plus with the benefits experienced in the other packages. 

Our private offices are fully furnished, meaning you can move in right away, and feature smart access to help you control who can come in and out. For privacy and quiet, our private offices also feature extensive soundproofing.

Includes:

• • Ergonomic furniture
  • Private phone booths
  • Global lounge access
  • Secure IT
  • Meeting rooms on-demand
  • Members discounts
  • Events programme
  • Community Management team

• 24/7 access

• Secure private office

So that’s what we can offer – and that’s not all! We can even offer our services without office space as a pure virtual office if you’d still prefer to work from home, more about which can be read here. Most importantly, we hope we have been able to provide a good idea of the different price points available for office space in London, from traditional office spaces to coworking spaces.

If office space prices in London don’t scare you, at least for coworking, then feel free to book a consultation!