London’s Most Popular Serviced Office Locations
City of London
Following an investigation into the most popular areas of the UK for businesses seeking serviced office space in Q4 2010, statistics by officebroker.com show that the EC postcode in Central London is the clear favourite, while Birmingham in the West Midlands is the most popular location outside of London.
The EC postcode area, which covers The City – London’s financial district, also known as the Square Mile – is the historic core of London and home to many global banking and financial organisations, including the London Stock Exchange and the Bank of England.
Over 500 banks have offices in the City, along with high-profile global corporations including Aviva, the BT Group, Lloyds Banking Group, Prudential, DLA Piper, and more.
Over 100 business centres in the City are currently listed on the officebroker.com website, making it one of the most high density areas for serviced office space in the UK. Many leading office providers have multiple buildings in the area, including Avanta, Executive Offices Group (EOG), MWB Business Exchange, Ventia Ltd, and Regus.
Currently, W1 offers the highest number of business centres in the UK according to the officebroker.com database, with 111 buildings (as of January 2011), again featuring multiple locations from some of the UKΓÇÖs leading serviced office providers.
Third in line and just behind W1 in terms of popularity is SW1 – another high density district that covers a wide region of the capital including Westminster, Belgravia, Whitehall and Knightsbridge.
Key landmarks including the House of Commons, Buckingham Palace, Downing Street and the HM Treasury headquarters are located within the prestigious SW postcode remit, and it is also home to the headquarters of many prominent corporations including the BBC, the Rolls Royce Group and BP.
Westminster – SW
It is also one of the most expensive locations. During Q4 2010, the cost per workstation of a serviced office in the SW1 postcode area reached an average of ┬ú610 per month, which was significantly ahead of EC’s average of ┬ú491 and W1’s ┬ú542.
This shows that the prestige of taking office space at one of the UK’s most recognisable postcodes comes at a price, but it also brings instant prestige, professional workspace and plenty of appealing extras. For example, this Knightsbridge property offers views across Hyde Park, full service packages and superb period features, while in Wandsworth, this business centre is popular with clients for its mod-cons, stylish design and efficient team.
There are many benefits of choosing serviced office space in London, and this research shows that many businesses consider it key to their growth that they are located in one of the capital’s most prominent locations, with the City leading the way.
A detailed assessment of Central London’s serviced office space market will be published later this month on the Stats & Facts section of the officebroker.com website. The Q3 2010 edition of this report can be viewed and downloaded for free here: Serviced Office Review: Central London Q3 10.