Office Space Prices in London Dwarf Rest of UK
September 14th, 2007 | by James Jones
I recently obtained data online that gave me the average price of Grade ‘A’ office space (per workstation per month) in most areas of the UK and the rest of the world.
I have analysed the data at length and have written this article to show our readership where and where not to potentially locate new offices in the future.
As you would expect, London office space prices are significantly higher than the rest of the UK. Its the capital city of course, and the main hub of business in the United Kingdom - but still, its always surprising to see how different things are in the city.
The average price of serviced office space in London is a remarkable £666. The rest of the UK, outside of London, is only £436 - a difference of £230 or a whopping 35%!
A notable location of UK office space is Cardiff. Even though its the capital of Wales, office space is extremely cheap at only £285 per month. In comparison, Cambridge stands at around £400. As you would expect, cities around the outskirts of London are quite expensive, with Staines costing £579, Gatwick £625 and Chertsey £589.
If you are looking for a cheaper serviced option around the UK, you could always opt for Exeter at £255, Sheffield at £289, Sunderland at £283 or Bristol at £301.
As for the rest of the world, several strange results became apparent. For example, its almost twice as expensive to rent office space in Argentina than it is in Australia!
Hong Kong was the highest reported office space price at £750 per month with Morocco the lowest at £175. The overall average price of office space outside of the UK is £360.
In summary, whilst the UK has some of the highest office space prices in the world, the odd bargain can be found and a UK business can get started in various locations without breaking the bank.
Subscribe to Choregus
6 Responses to “Office Space Prices in London Dwarf Rest of UK”
By Simon Rattray on Sep 14, 2007 | Reply
Is that 666 per sq foot?
By James Welch on Sep 15, 2007 | Reply
£666 per workstation per month.
By NigelR on Oct 17, 2007 | Reply
Excellent article
By Kate on Jul 10, 2008 | Reply
Can you tell me the source of your online data, and where I can source up to date figures for the cost of office space?
Cheers
Kate
By Simon Rattray on Jul 10, 2008 | Reply
Try Google!