Data from Rubberdesk, an online flexible office marketplace, has highlighted five London Underground stations around which demand for co-working, serviced and managed office spaces has boomed. The findings are based on median monthly rates for offices within half a mile (or a 10-minute walk) of key Tube stations.
In Holborn and Bank, managed office supply has surged, while Oxford Circus is breaking the pattern with managed and serviced office prices now neck-and-neck.
Gareth Smith, flex account manager at Rubberdesk, said: “The speed at which the managed office market has grown in London, in particular the West End, shows the modern business really sees the benefit in having space that is not only appealing to the team but also creates minimal fuss and effort to run on a daily basis. Even traditional landlords with large portfolios in London that were once so dead-set against the flexible managed solution are now turning to operators to run their buildings.”
Bank: Rates are up 2.3% to £650 per desk with managed offices inventory up by 10.6% quarter-over-quarter.
Oxford Circus: Desk rates are flat at £845. Managed offices inventory is up by 8.4% over the last three quarters.
Farringdon: Supply has shifted from midsized space and serviced offices are leading the charge, up by 14% quarter-over-quarter. Rates are currently at £700 per desk.
Holborn: Rates are steady at £700 per desk, while floorspace is up 11.6% and managed offices by 32%.
London Bridge: Desk rates are up 3.5% to £625, with managed offices up 14.3%.
Image: © Adobe stock
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