London office space prices still rising according to officebroker.com

Data has recently been published by the website officebroker.com which has shown that the cost of renting a serviced office in central London is continuing to become more expensive.

However, compared with the peak of costs which occurred in 2008, the price is still 10 percent lower.

Officebroker is a website that offers a business environment on a plug and play basis. The research showed that the average cost of having a workstation in the centre of the capital city is around £600 a month.

When comparing this historically, the information put forward by officebroker.com suggests that the cost of premium office space has yet to recover across the capital and remains 10% below the peak price of £647 per month recorded in 2008.

Average Workstation Price (Jan – May 2008 – 2012)

• 2008: £647.00

• 2009: £455.00

• 2010: £511.00

• 2011: £534.00

• 2012: £583.00

Commenting on the data Chris Meredith, Head of UK Sales at officebroker.com said:

“Pricing has increased steadily since 2009, highlighting that the demand for serviced offices in the capital has risen and brought the cost of acquiring this space with it.

“While this shift will result in those businesses securing office space seeing price increases at the point of resign, the demand from new and migrating serviced office clients looks set to keep prices moving back toward 2008 levels unless market conditions notably decline.”

The data also provide insight into the types of businesses utilising serviced offices in the capital, with the average office requirement of those businesses securing serviced office space recorded at 6 desks.