How Much Does It Cost To Rent Office Space In The UK?

Published on September 14, 2017 - By Allwork.Space - Press

The average cost of flexible office space in the UK per person per month is between £200 and £1400, depending on location and amenities.

According to data analysing the country’s top locations, companies of all sizes are overpaying for workspace because of the hidden costs of occupancy. When considering the floor space needed per employee, it can be up to £4,000 more expensive per year to sign up to a conventional leased space, compared to flexible space according to Instant Offices.

Demand for Office Space in the UK Rising

The UK ranked eighth for its healthy entrepreneurial ecosystem in 2017, compared to 137 other countries, and with approximately 657, 790 businesses launched in 2016, it is clear that this dynamic country is a desirable choice for businesses and start-ups.

With demand for UK office space on the rise, business owners are looking at agile ways of working to avoid the hidden costs of traditional leased office space. In 2016, occupier enquiries for flexible workspace increased year-on-year by an average of 20% across the UK, as seen in the UK Flexible Workspace Review.

Why Choose London?

Last year, London held the top spot in the European Digital City Index for the second time in a row.  So, what does it cost to rent a desk in the best city in Europe for digital entrepreneurship and start-ups? This metropolis and business hub for local and foreign-owned companies was ranked in the top six as one of the most expensive places to rent a desk in the UK, with flexible workstation rates growing 16% in the last year.

The dynamism of the tech sector in London has been a key driver in the growth for coworking and mobile, digitally-fluent communities. The agile working characteristics of the tech sector in London has paved the way for coworking markets elsewhere, such as Bristol, Leeds, Manchester and Birmingham.

Average cost: £650 – £1400

Why choose London?

• One of the world’s leading financial centres
• World culture capital
• 1,136 flexible working centres to choose from
• 19% cheaper than New York
• Excellent land, sea and air links
• Large talent pool

Popular areas in London:

• Canary Wharf
• Shoreditch & Old Street
• The “City”
• Southwark
• The West End

The Instant Group: Flexible Workspace Specialists
The Instant Group is the global flexible workspace specialist. Underpinned by unrivalled expertise, Instant tailors unique solutions to help businesses of all sizes to grow, drive savings or gain invaluable insight. Established in 1999, The Instant Group has achieved 23% compound growth over the past four years and continues to expand with private equity funding secured from MML Capital in 2012. With offices in London, Berlin, Dallas, New York, Hong Kong and Sydney, The Instant Group employs more than 100 experts and has clients in 113 countries. For more information, visit www.theinstantgroup.com.