How Much Does Office Space in London Cost?

Office space in London can be challenging to find the ideal space but when you do find the right office for your team, you should get in touch with Fusion Office design to come and help with either office refurbishment or office design, get in touch with our team to find out more today. We offer a range of services during the office search to support you with factual analysis.

There is a potential shift in the property market as changes in interest rates, WFH and hybrid working have an impact on business and growth. Investors are becoming more cautious over rental prospects.
Cost is often a huge deciding factor, and prices can vary significantly between various cities meaning it can be difficult to know how much you should be paying for a service.

The average fully serviced office in London varies in costs between locations this can range between £400 to £1,000 per month, the most affordable locations include Tower Hill and Edgware Road, whereas Paddington and South Kensington reach the other end of the scale.

Location isn’t the only factor which defers the cost of office space but takes into account the size of the office, and if there are any workplace perks such as games tables, beer taps and roof terraces.
2018 has already seen vacancies rise to 12.2 million sq ft from 8.5 million at the start of 2017, however it is worth noting that the availability of property has slowed significantly over the past few months.

This rise in vacancy across London has impacted the price of rent which brings 2018 as the prime time to invest in property, in turn this means that some of the best locations are becoming more accessible and affordable.

Reachable & Rewarding

As we move forward the best offices will need to be both easily accessible and of sufficient quality to make an office day rewarding. Providing occupiers with better quality buildings and design features which are future based seem to be the way the market is moving . The improvement of base-build design and convenience tools are steadily becoming a more desirable feature in the workplace, which work out cost efficient without having to add staff costs.

Short Term or Long Term?

The length of your Lease makes such a difference to the return on investment in any design scheme. A 5 year lease makes for a short payback. A 25 year lease is likely to mean at least one full re-fit during the Lease. Whatever the scenario Fusion will adapt our proposals to ensure your investing sensibly.

There’s also the usage factor to consider. A typical commercial fitment might be designed for average use. Maxing the office occupancy or running 24/7 places much more demand on any FF&E and consequently shortens the lifespan. When we specify products the objective is to balance cost against durability and knowing how many users, and the office opening hours, helps us to give good advice on choices across the whole office interior. Its a cost-benefit analysis in essence, alongside a subjective Quality appraisal to match the design scheme intent.

Our Services.

• Space Planning test-fit. Empty office space can be misleading. Let Fusion carry out a test-fit space planning exercise to determine the space efficiency of the floorplate. We’ll look at circulation and common areas, services routes, and the overall amount of space compared to your occupation needs.
• Building Assessment. This is a fit-out survey. Unlike a conventional surveyors report we examine the compliance of the demise, defects, hidden problems and disparity between normal fit-out costs and the likely cost for the office under consideration. For more on this service see our Building Assessment page. This service plays a crucial role in supporting Heads of Terms negotiations.
• Office Fit Out Costs spreadsheet. Invaluable for budgeting an office fit-out or renovation. Our spreadsheet compiles real world Design & Build figures taken from our completed projects, and sets them out in a set of grouped figures relevant to most projects. Click here to see more on the fit-out costs spreadsheet.

And of course Fusion back all this analysis with great office design, project managed fit-out, and a unified service covering every aspect of a new office interior. Get in touch to get us on your team.