FlexiOffices, a leading office broker in the UK serviced office market, have unveiled a visualisation of the average monthly price per desk for London tube stations (Zone 1) as of the beginning of 2016.
The visualisation highlights intriguing differences between London tube lines, as well as individual tube stations. For SMEs, Entrepreneurs and Managing Directors, this data can help them to make decisions on where to start or relocate their company in London. The differences between neighbouring tube stations can be fairly substantial.
For example, there is a big difference in average price between Kings Cross St. Pancras (£800) and Angel (£550), despite the 2 stations being next to each other. Opportunities such as these, may encourage local business leaders to re-think their office locations for potential cost savings.
SMEs know that the convenience of commute can have a large impact on the productivity and well-being of their employees. FlexiOffices’ average monthly price per desk for London tube stations (Zone 1) offers the opportunity to compare costs and commutes, based on specific tube lines or tube stations. The average monthly price per desk for all tube stations in Zone 1 is £790.
The Northern line is the cheapest tube line, with an average monthly price per desk of £667. This is due to the inclusion of bargain locations such as Elephant & Castle (£400) and Old Street (£500). These locations still seem to be an affordable option, despite their increasing popularity with the tech industry.
The Jubilee line is the most expensive tube line in Zone 1, with an average price per desk of £793. The most expensive location on this line was found to be Green Park.. The Piccadilly line was found to be the second most expensive, with an average per desk of £788.
Generally speaking, the most expensive tube stations in Zone 1 are clustered around central west London. The five most expensive tube stations are Green Park, Knightsbridge, South Kensington, Paddington and St. James’ Park, which all have an average desk price of £1,000.
The three cheapest tube stations in Zone 1 are Edgware Road (£400), Elephant & Castle (£400) and Tower Hill (£400).
Paul Slinn, Managing Director of FlexiOffices, commented on the visualisation stating, “It will be interesting to see how the opening of Crossrail will affect these prices. Especially around those Zone 1 stations where crossrail will be opening. These include – Paddington, Bond Street, Tottenham Court Road, Farringdon, Liverpool, Whitechapel and Canary Wharf.”
The study on average monthly price per desk for London tube stations and tube lines can be found here.