How to get the best value office space in London

With high demand and rising costs, securing the best value office space in London can be a challenge. But with a clear plan, expert advice, and smart decision-making, you can find a space that fits your needs without overpaying.

In this guide, we’ll walk you through the key strategies to help your business get more from its next office investment – whether you’re moving, renegotiating, or reassessing your current lease.

1. Choose the right location for your business

Not every business needs a Mayfair address. If you can be flexible with your office location, look beyond the most expensive postcodes. Areas like Clerkenwell, Shoreditch, or Southwark often provide more cost-effective offices in London without sacrificing accessibility or amenity.

2. Only take the space you need

More space means more cost. Be realistic about your headcount and working patterns. Hybrid and flexible working often mean you can comfortably occupy less space without compromising productivity.

3. Focus on the amenities that matter

Top-end offices may offer everything from on-site gyms to meditation pods – but these extra office amenities come at a cost. Could you outsource certain amenities instead? If only a few employees use the gym, for example, an off-site gym membership could be more cost-effective.

4. Compare the total cost of different types of space

When comparing offices, look at total occupational cost:

• Serviced offices: Rent usually includes business rates, service charges, and utilities.
• Leased offices: You’ll pay base rent, service charge, and business rates separately.

To secure the best value office space in London, work with an agent to benchmark similar-sized spaces across multiple locations. This is the only way to judge true value.

5. Get expert advice even if you’re not moving

It’s worth asking an expert to review your current service charge and business rates. Even if you’re not planning a move, you may find areas where you’re overpaying.

6. Negotiate service charge caps

A fair cap on your service charge protects you from unexpected costs, especially if the building requires significant repairs or upgrades. Always try to limit your potential liabilities.

7. Survey the building before you commit

In leased offices, major repair costs can be passed to tenants via the service charge. A building survey will flag any risks before you sign. It’s a small investment that could save you thousands.

8. Consider fitted or part-fitted options

Fitting out an office takes time and money. If you can find a space that’s already been fitted out – by the landlord or previous tenant – you’ll save on upfront costs and avoid the hassle.

9. Benchmark similar deals before negotiating

Before you agree to terms, look at recent deals for similar offices. Are tenants getting rent-free periods? Have others successfully capped service charges or reduced the rent? Use this knowledge to strengthen your negotiating position.

10. Watch out for hidden costs to get the best value office space in London

Carefully look at the detail to identify hidden costs of renting office space:

• Are the services in your service charge actually being delivered?
• Is the service charge reasonable compared to similar buildings?
• Are there any unusual reinstatement or dilapidation clauses?

11. Make sure your lease is flexible

The best value office space in London isn’t just about price. It’s also about flexibility. If your circumstances change, can you break the lease? Can you assign or sublet the space if needed?

Final thought: value isn’t just about cost

The best value office space in London gives your business what it needs today – and protects you from unwanted costs tomorrow. It’s about choosing the right space, in the right location, on the right terms.