Are London Offices Affordable for Start-Ups?

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Here at Easy Offices, we have been tracking the demand for residential property in the Capital over the past few years to look at how some landlords are considering moving away from traditional office space. Instead, many are focusing on the higher returns available from the residential market. Now that a lot of the world has shifted to remote and hybrid working models, are the cost of office rentals in London low enough to entice would-be entrepreneurs and business start-ups?

Plenty of start-ups and professionals move to London in search of opportunities every year. If you are thinking of opening your start-up office in London or looking at the city’s best areas  to move to, then this guide will help you navigate The Big Smoke, the Easy Offices way. 

Why should you set up your start-up office in London?

Thousands of people move to London every single year, not only from abroad but from other cities around the country as well. The population of the city is projected to cross 10 million in another ten years – a spike and steady increase since the boom of the 1990s. That said, if you want to find the best start-up office space that fits in with your startup budget and needs, you need to start looking for a space in the area you need right away.

London has access to top talent from across the globe, and the city is a melting pot of cultures. The global city is easily accessible and well connected with various transport links, attracting investors and creatives to collaborate, create and grow the city’s community. All these factors are important for start-ups looking to thrive and grow and will influence a start-up’s co-working space and office layout when planning a new office.

Factors that can make a start-up office affordable in London

Start-ups have a reputation for being trendy and casual, and many would like this reflected in the aesthetics and decor of their office as well. Whether it is a tech start-up office or whether you’re looking for space for a retail venture, there are many ways you can save on business start-up costs in London:

  • Hot desking in a coworking space can not only help encourage a collaborative environment, it can also save start-ups some much-needed money. Flexible contracts and sharing workspace with other companies will reduce the costs associated with London offices
  • The capital city is not only great for forging connections but to grab the investments you need as a start-up as well. London is highly investable and attractive for people in any industry.
  • With easy and convenient access to restaurants, grocery stores, laundry services, childcare and many other necessities, even the busiest lives can be managed efficiently alongside work when taking up a start-up office space. In 2022, 30% of job seekers will prioritise their work-life balance and flexibility when it comes to choosing a job and this is something start-ups can consider when choosing the right office space in London.

Our popular start-up office space locations in London

Without doubt, the vast majority of all our sales enquiries are for serviced offices in London’s West End followed closely by companies looking in the Square Mile for a London City Office. The West End has a large variety of districts that are as diverse in their culture as they are with their pricing. 

However, certain areas perform better in such a large city, and would hold their prices better than others. Start-up offices near Bank have always been popular, and the enviable position in the heart of the Financial District ensures that the pricing remains fairly stable and you have easy access to the investors you need. 

Mayfair start-up offices set the standard with a higher than average price compared to the rest of the West End Office Market.

When looking to start a business or open a new start-up office, because the cost is an important deciding factor, many companies look at more cost-effective solutions in some of the outlying areas around London. These areas offer convenience of good transport routes into Central London but without some inherent costs. 

Renting a startup office or start-up coworking space in Hammersmith offers you three Tube Links and a Mainline Rail option. A start-up office in Chiswick will allow you access into central London on the underground, as would an Office in Richmond.

No matter which area you choose, make sure it is well connected, has access to the amenities your start-up needs, and is flexible to fit with the changes of a growing company.

RELATED: Finding Affordable Offices to Rent in London

London has always been and will always be one of the most popular cities in the world for both business and pleasure. Many start-ups think of moving there temporarily and soon call it home within a few years. If you’ve been put off by the pricing before then it might be worth having another look. And if you require additional help or advice, our team of experts is always ready to help you find the start-up office space of your dreams. 
Give Easy Offices a call to discuss the various options available for you. Finding your perfect London office may have never been more affordable!

3 thoughts on “Are London Offices Affordable for Start-Ups?”

  1. No doubt! Virtual offices are are great for start ups. A virtual office is an option for anyone irrespective of the sector or industry they may belong to. Large multinationals view it as novel idea when starting up in a London.

  2. Adam Francis

    Many Companies are now using Offices in a more flexible way. The various solutions currently offered by companies like Easy Offices allow far greater financial control over overheads.

  3. Janet Owens

    I think the present market conditions are forcing both Companies seeking office space and the Office providers to reconsider how they use / provide offices and the services required.

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