Searching for office space in London can be a time-consuming task, especially if you’re looking for something on the lower end of the budget scale. London is one of the most expensive office locations in Europe, and that makes it easy to get put off by the prices here. However, while the leafy exclusivity of Mayfair may be out of reach for many businesses, it doesn’t necessarily mean the rest of the capital is beyond your budget.
In 2018, London had over 1,300 flexible office spaces, and this number has only increased in recent years. There’s no shortage of offices available, and thankfully there are lots of different options that fall into all budgets.
In this guide, we’ll uncover how you can find cheap office space in London, along with our list of prime locations that won’t break the bank.
Things to consider when looking for cheap offices to rent in London
When searching for cheap offices to rent in London, your budget will undoubtedly be the biggest factor you need to consider. But to help you narrow down your search, there are a few other factors you will need to take into consideration before you settle on the perfect office.
Once you’ve got an idea of your budget in your head, you should think about how your business will use the office space day in, day out. Is your business client-facing? Will existing and potential customers want to visit you at your premises, and therefore do you need an office that you’d be proud to bring clients to? Or is the honus normally on you and your employees to visit your customers and therefore a plush ‘wow factor’ office isn’t necessary?
Thinking about your requirements is essential too, do you need business support services as an additional extra or can you work from an office without? Will you require meeting room space on-site, or would you be happy to use external space? All of these factors will make a difference in what office options are available and what is feasible from a financial perspective.
Prime London locations with affordable office space
Once you’ve determined exactly what you require and can afford, you can start your search for office space in some of London’s most prime locations and their neighbouring locales. While your budget might not stretch to an office in the middle of Berkeley Square, you might be able to find an office within walking distance, for example.
Here are a few of our favourite prime London office spaces that won’t completely deplete your budget.
Mayfair
While your initial thoughts of Mayfair are high-end offices with premium price tags, you’ll be surprised to know that there are several more affordable options here too. From just £310 per month, you can rent a serviced office on North Row, providing you with a first-class business address within walking distance of Marble Arch and Bond Street. Plus, you can access on-site meeting rooms, secretarial support services and state of the art technology.
If you’re looking for something modern but affordable, these offices in Hanover Square could be just what you need. Prices start from just £320 per month, and you’ll benefit from 24-hour access, high-speed broadband, access to conference rooms and plenty of breakout areas for creative thinking.
Marylebone
Offering a prime London location with easy access to Paddington train station, Hyde Park and several tube lines, Marylebone is a great place to do business. It can be affordable too, with offices here starting from just £220 per month. This serviced office in Burwood Place, for example, offers ready-to-use office space alongside several fully equipped meeting rooms and administrative support services.
Bank
Located close to Mansion House and several professional services and financial establishments, Bank is a desirable location for many businesses. However, this can make it expensive, so searching for offices close by is usually a better way to rent cheap office space in London. Finsbury Circus, for example, is within a ten-minute walk of Bank DLR.
Salisbury House in Finsbury Circus is a stylish and modern serviced office and studio space, ideal for businesses looking for high-spec office space near Bank without the high cost of this locale. Office space here starts from just £206 per month.
St. James Park
If you’re looking for a cheap office to rent in east London, the St James Park area could be a great option. While Leyton is situated just outside the hustle and bustle of the capital, it’s still a thriving location for growing businesses with excellent and quick connections into the centre when you need them.
One business centre on High Road has prices starting from just £75 per month, meaning you can establish your business with a premium London postcode, with the low cost of an office elsewhere in the UK. Alternatively, Church Road is home to offices starting from £180 per month, with serviced offices delivering everything you need from a workspace.
Soho
With a vibrant and diverse history, along with artistic culture and eclectic vibe, Soho has become a haven for premium businesses and high-end clientele. But this doesn’t mean it’s completely out of your price range. There are several serviced office spaces here that can provide everything you need within budget.
For example, Archer Street Studios occupies a prime location in Soho and delivers both stylish studio space and modern offices from just £275 per month. For those who need to be in Media Village, these offices in Soho Square are another option. With prices from £230 per month, you’ll have access to first-class post-production suites, a seldom-seen underground car park and all the other amenities you’d expect from a serviced office.
Kensington
As one of London’s trendiest and most premium postcodes, Kensington is desirable for a lot of reasons. And while house prices here can be eye-watering, you can still find reasonably priced office space in this locale.
For something with a bit of history, this office space on Barlby Road occupies the old Pall Mall Deposit and is just minutes from the world-famous Portobello Market. Prices start from just £83 per month, and you can choose from several types of office and studio space to best suit your business.
Choosing an affordable London office
Many of the locations listed above are some of the most up-market and traditionally expensive parts of London, but there are still a few hidden gems to be found with reasonable price points. If those locations don’t take your fancy, you could always try searching for cheap office space in places like Paddington, Richmond, Hammersmith or Shoreditch.
For businesses who have their eye on London but aren’t sure if the move is quite right, our guide to 7 business advantages of having a London office could help you make your mind up.