A Complete Pricing Guide to Office Space Costs in the UK

Market Overview of UK Office Spaces

Progress in 2024

In 2024, the UK flexible office space market experienced a significant shift. The first half of the year was stable. However, the available flexible office space surged in the last two quarters, surpassing 8 million square feet for the first time—a 10% increase from the previous quarter. Despite this record supply, desk rates rose 1.4% to  £506, mainly due to the introduction of more expensive enterprise offices.

With 8.0 million sq. ft. of flexible office space available, businesses of all sizes have increasing options. However, pricing trends have fluctuated. The median desk cost dropped from £700 to £455 per person due to the pandemic and economic slowdown. As inflation and economic uncertainty began easing, national desk rates rebounded, exceeding £500 per person for the first time in 2.5 years by the end of 2024.

Overall, with the increased number of flexible spaces, desk rates and median desk costs decreased.  This reflects the trend where the supply of flexible office spaces surged, pushing desk rates up due to the addition of premium spaces. In contrast, the median desk cost fell as businesses started to opt for more affordable options.
 

Expectations in 2025

The UK regional office market in 2025 is expected to navigate a dynamic environment shaped by evolving occupier demands, supply constraints, and shifting investment conditions.

• Return to Office Momentum: Workplace strategies will continue evolving, with businesses prioritising pre-fitted office spaces to minimise capital expenditures amid rising construction costs.
• Fight to Quality:  Demand for premium, centrally located, and sustainable offices will remain strong, driving up rents for best-in-class spaces.
• Increased Competition for High-Quality Stock: The limited supply of top-tier office spaces will intensify competition, leading to a rise in pre-let agreements as businesses secure premium locations ahead of time.
• Capital Market Recovery: Anticipated interest rate cuts and stabilising investment yields will enhance liquidity, encouraging investors to return and boosting overall market activity.

The Cost of Office Spaces in the UK for Rent

The cost of renting office space in the UK is undoubtedly a major factor. The average cost varies depending on multiple factors, such as on-site amenities, team size, location, nearby transport links, and types of services. To decide, you must consider your team size, choose the location, your budget, and the services you need in an office space.

Cost of Flexible Office Spaces in Major Cities of the UK

To better understand the cost of office space in the UK, we have extracted data from Office Hub Co-Stats and created a table of prices of flexible office spaces in the major regions. We have also presented a graph for better visualisation.
 

The cost variations of flexible office spaces across major UK cities presented here are recorded in the first quarter of 2025 as the average desk space cost. It is found that London remains the most expensive city, with serviced offices at £600 and managed spaces at £650 per person.

At the same time, Nottingham and Leicester offer more budget-friendly options, starting at £250 for serviced offices and £150 for coworking desks. Sublet office costs vary significantly, with London reaching £500, whereas cities like Bristol and Liverpool offer sublet spaces for as low as £250.

Overall, London is the priciest location for flexible office spaces, while regional cities provide more cost-effective alternatives. Among different space types, virtual offices remain the most affordable option across all locations, averaging £120-£150 per person.
 

How do you Calculate the Cost of Office Space?

The process of calculating the price of flexible office spaces is quite simple. Mostly, the providers charge based on the required number of desks. After selecting the office type, you must find how many desks you need. For example, if the private office space costs £500 per desk per month, then the cost of office space with 10 desks would be £500 * 10 = £5000 + VAT per month.

Remember that prices fluctuate depending on the office type, amenities included, and any required customisations.

Tips to Find the Best Deal For the Office Spaces in the UK

Research must be conducted carefully to find the best office space in the UK, considering lease terms, location, and amenities. Here are seven tips for getting the best deal on renting an office space in the UK.

1. Compare Multiple Options

Consider the offerings, lease terms, and services of different office providers. Compare multiple options to find a space that offers the best value and convenience for your business needs.

2. Choose the Right Location

Office location is crucial. Research different locations based on surrounding amenities, transport links and pricing models. Consider a location that balances cost, amenities, and business needs.

3. Negotiate Lease Terms

After shortlisting office spaces, consider their lease terms. Don’t settle for the first offer; negotiate prices and look for discounts and promo codes available on specific packages.

4. Understand What’s Included

Make sure to get complete knowledge of what is covered in the rent. Some providers offer utilities, internet, and access to meeting rooms and lounges under the rental package, while others charge extra.

5. Look for Move-in Ready Spaces

By choosing move-in-ready spaces, you don’t need an investor to manage the upfront cost of furniture, IT setup, and fit-outs. Hence, they become cost-effective options, specifically for startups.

6. Time Your Move Strategically

Before making the final decision, research when prices hike and drop. Remember that providers offer discounts and promotional offers during off-peak seasons or occasions like Christmas. Also, when demand is low, prices drop.

7. Take Advice From Experts

The process of conducting research and making a final decision can be exhausting and doubtful. The best of all is to consult with experts like Office Hub, who can help you compare flexible office solutions and find the right fit for your business. Our flexperts also help you find the best deal and book your tour with the office space providers you are interested in dealing with.

To Sum Up

The cost of office spaces in the UK depends on factors such as location, on-site amenities, team size, and workspace type. London remains the most expensive city for office rentals, offering premium spaces at higher rates than other regions. However, many cities provide more budget-friendly alternatives, making it essential for businesses to evaluate their needs, budget, and long-term objectives before deciding.

With Office Hub, businesses can simplify their search, compare prices, and find affordable office spaces. You no longer need to worry about market rates or lease terms; just share your requirements and hit the best deals.