Serviced Office Rental Report: Midtown, London 2023
FreeOfficeFinder’s Midtown London serviced office market report dives into the specifics of office rentals throughout 2023. We offer an in-depth overview of the current landscape based on our analysis of various properties.
Our 2023 rental market report highlights key trends, pricing structures, and the availability of amenities, providing valuable insights for businesses considering Midtown London for their office requirements.
Key Features of Serviced Offices in Midtown London
Our detailed examination of the serviced office market in Midtown London reveals a diverse and accommodating landscape for businesses:
Range of Office Sizes
The smallest offices start at a capacity of two people, ideal for startups or small teams.
On the other end of the spectrum, the largest office space can accommodate up to 2,100 individuals and is suitable for large enterprises.
The median capacity across all listed offices is approximately 50 people, indicating a balanced market catering to small and large businesses.
Price Range and Affordability
The starting price range reflects the diversity in office sizes and amenities, from a cosy £1300 office space to a spacious £42,075 office rental in Russell Square.
Additionally, the average price per desk in a private office is £650, offering a competitive rate for businesses seeking central London locations.
For Small Businesses
Offices aimed at small businesses start at around £485 per person. They provide essential amenities without the premium price tag and represent excellent value. These spaces, often inclusive of bike parks and shower facilities, cater to the modern necessities of startups and small teams.
For Medium-Sized Businesses
Offices accommodating 50 to 200 people, with prices ranging from £20,000 to £75,000, feature facilities such as disabled access and pet-friendly policies. They meet the needs of businesses requiring more extensive space and a more comprehensive array of facilities.
For Large Enterprises
Expansive rental spaces in Bloomsbury Way host up to 900 individuals, priced from £367,000, justify their higher desk rates with comprehensive facilities.
These include on-site cafes, event spaces, and gyms catering to large enterprises searching for top-quality, all-encompassing office environments in prime spots.
Accessibility and Transport Links
Most offices are within easy walking distance of key tube stations, including Holborn, Covent Garden, and Kings Cross. This facilitates straightforward commutes for employees and ensures businesses remain well-connected within the city's fabric.
Amenities and Facilities
The amenities in Midtown London's serviced offices significantly enhance their appeal, catering to the evolving needs of modern businesses and their employees.
Our analysis of the data highlights the following key amenities:
- Offices with Bike Parks: Approximately 40% of the listed offices, including those on Bloomsbury Way and Gray’s Inn Road, offer bike parks.
- Offices with On-Site Cafes: Around 30% of offices, notably in Bedford Square and High Holborn, feature on-site cafes, which add convenience and create social hubs within the workplace.
- Offices with Disabled Access: Ensuring accessibility for everyone, about 25% of the offices provide disabled access. This critical feature underscores the commitment to inclusivity within the modern workspace, allowing businesses to easily accommodate all employees and visitors.
- Offices with Gym Facilities: 5% of offices, including some on High Holborn, incorporate gym facilities.
- Offices with On-Site Car Parks: Given parking challenges in central London, 15% of the offices provide on-site car parks, such as those on Bloomsbury Square.
- Pet-friendly Office Spaces: Reflecting a growing trend towards more relaxed and inclusive office environments, about 20% of the listings, including locations on Bedford Square, are pet-friendly.
- Offices with Shower Facilities: Approximately 30% of the offices, such as those on Grays Inn Road, provide shower facilities. This essential amenity caters to active commuters, particularly cyclists and joggers, enabling employees to refresh and maintain a professional appearance throughout the day.
Featured Serviced Offices in WC1 and WC2
Each of these offices exemplifies the diversity of the Midtown London serviced office market, catering to the evolving needs of modern businesses with a blend of practicality, convenience, and strategic location choices.
Bloomsbury, Bedford Square – Versatile Space with Bike Park and Cafe
This versatile office space in Bloomsbury suits businesses with 2 to 70 employees and is priced from £1,200 monthly. It offers a bike park and an on-site cafe, enhancing the work environment with convenience and a relaxed atmosphere.
The combination of essential amenities and prime location makes it a perfect match for dynamic businesses valuing accessibility and workplace quality.
Holborn, Bloomsbury Way – Large Capacity with Comprehensive Amenities
Catering to a wide range of business sizes, renting this Holborn office space accommodates 3 to 900 individuals, starting at £1,485 per month. Equipped with a bike park, cafe, and pet-friendly policy, it provides a comprehensive workspace solution.
Its massive capacity and range of facilities cater to diverse business needs and employee well-being, making it stand out for inclusivity and versatility.
High Holborn – Premium Space for Creative Enterprises
Aimed at larger businesses, this office to rent in High Holborn can accommodate 60 to 90 people, and prices start at £25,500 per month. It is ideal for creative enterprises or larger organisations seeking a prestigious location with essential amenities for employee comfort.
Though lacking in broader amenities, its significant capacity and shower facilities cater to businesses looking for premium, spacious environments.
Kings Cross, Grays Inn Road – Small to Medium Capacity with Event Space
This serviced office in Kings Cross suits businesses looking for 2 to 200 desks. It is priced from £710 per month and offers bike storage, an on-site car park, and an event space for versatile business use.
Including an event space alongside other amenities in a central location makes it a prime choice for businesses that host regular events or meetings.
Russell Square – Eco-Friendly Space with Premium Connectivity
Focusing on sustainability and connectivity, this office to rent in Russell Square is suitable for businesses with 9 to 200 employees. Pricing starts at £6,840 per month.
Featuring bike parks and shower facilities, it's designed for eco-conscious businesses prioritising employee wellness and environmental responsibility.
Its central location, combined with its commitment to sustainability, makes it ideal for modern businesses looking to minimise their carbon footprint while maximising operational efficiency.
Our Midtown Market Analysis
With a wide range of sizes, pricing options, and amenities, Midtown London continues to be a prime choice for businesses seeking flexibility, convenience, and a supportive environment for growth.
Our report reveals that the Midtown London serviced office market is well-positioned to meet these demands, offering a solid foundation for businesses planning to thrive in the heart of one of the world's most vibrant cities.
