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Serviced office or conventional lease? A beginners guide
From The Knowledge

Serviced office or conventional lease? A beginners guide

Learn the key differences between serviced offices and a conventional lease to help you decide what's best for your business.

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Farringdon & Clerkenwell At a glance...

  • The City’s cooler cousin, situated to its north and east of Holborn  
  • Home to businesses who prefer a more creative work environment, a mix of big companies and small co-working startups
  • Sizeable residential population, so it stays alive after work, with good shops and restaurants
  • Home to the arts at Sadler’s Wells and the Barbican
  • Farringdon Station will become one of the busiest in the UK when the Elizabeth Line opens in Dec 2018.
Farringdon Offices
Office Space In Farringdon & Clerkenwell

the city's cooler cousin...full of warehouse types of office buildings, with high ceilings, lots of light, exposed surfaces....it really attracts people in the creative industries.

Farringdon & Clerkenwell: a commercial guide for businesses looking for office space in London
Ian Kitchener:

Farringdon is the city’s cooler cousin. It’s east of Holborn, north of the city, and it’s already got very good communications. It’s got Barbican station and Farringdon station, and Farringdon itself is going to get quite a lot better in December 2018 when they finally open the Elizabeth line.

The area, years ago, or in the last century was pretty industrial, pretty inner-city. But in the late 1990s, developers really saw an opportunity to bring residential and office spaces to life there, to create what they then called “loft living”. Today it is full of warehouse types of office buildings, with high ceilings, lots of light, exposed surfaces. And it really attracts people in the creative industries.

My favorite spot in Clerkenwell is an unusual spot, it’s a medieval graveyard in the north side of St. John’s Square in the heart of Farringdon.

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Rental Guide for Farringdon Offices

A Price Guide for conventionally leased office rent in Farringdon & Clerkenwell

NB. Leased office rents, rates and service charge are quoted per ft2 per year.

The above rental estimates reflect good quality (but not prime) air conditioned offices. More expensive and cheaper accommodation will generally be available.

Rent rates and service charge estimates are only intended as a guide. Office space is often available with costs outside these guidelines.

Negotiated rent free incentives will often make the net effective rent, lower than the above estimates.

Business rates payable will vary from year to year, changing each April, due to annual changes in the Uniform Business Rate. Higher rates are paid for brand new buildings.

Rent quoted in the City of London financial district is assumed not to be in a tower, where rents can be significantly more expensive

Conventional Lease (per ft2 per year)
Rent £60
Rates £20
Service Charge £15
Total Cost £95
A Price Guide for renting serviced office space in Farringdon & Clerkenwell

NB. Serviced office rents are quoted per desk per month.

Serviced offices provide an all-inclusive fully furnished solution with telecoms, internet and power and business rates all included with the rent in a single monthly payment. Office rental rates exclude VAT.

Serviced office rental costs also apply broadly to co-working office space.

Serviced Space (per desk, per month)
Total Cost £600

Compare office rent in Farringdon & Clerkenwell to rent other London locations.

Use the office space calculator to work out how much space you need, and how much it will cost to rent office space in Farringdon & Clerkenwell.

About Farringdon & Clerkenwell

Farringdon Offices

Farringdon & Clerkenwell lie east of Holborn and north of the City of London. Historically the area more an industrial than an office location. Indeed, Farringdon still houses Smithfield Meat market, one of the largest meat markets in Europe. Fashionably, Farringdon and Clerkenwell have now come to be regarded as the City’s cooler, neighbouring cousin!

Since office and residential demand expanded in the 1990s, developers saw the potential to convert industrial buildings to provide “loft living” and desirable office space with a “warehouse” feel. Despite a few cyclical dips in the market, Farringdon and Clerkenwell have never looked back.

Notably, the majority of tenants looking for Farringdon office space generally want a more creative work environment, whether that is traditionally leased office space or a flexible, serviced office. Warehouse-type offices in Farringdon offer flexible, open-plan spaces with good natural light and generous floor to ceiling heights. Additionally, exposed surfaces with windows unimpeded by suspended ceilings and floors uncovered by carpet tiles fit the bill for many creative businesses!

Responding to dramatically increased popularity of serviced offices, Clerkenwell & Farringdon offers the full range of flexible space – including shared, co-working space. Additionally, flexible meeting room hire combined with a virtual office allow startups to establish a presence in Farringdon & Clerkenwell, without the cost of renting an ongoing physical office space.

Because of sizeable residential population, Farringdon and Clerkenwell remain alive after hours and over the weekend. The area has good local restaurants, ranging from “greasy spoons” to fancy French restaurants, numerous pubs and bistros. Furthermore, most of the shops are independent retailers, rather than the usual high street chains. For the Arts, Sadler’s Wells hosts world leading ballet and dance companies. And the area is also home to a host of cultural facilities at Barbican.

Without a doubt, radically improved communications will prompt more companies rent Farringdon office space. National and tube services are already available at Barbican Station and Farringdon Station. In addition, in December 2018 the Elizabeth Line (Crossrail) will open at Farrindon, transforming it into one of the busiest stations in Britain, with over 140 trains passing though per hour. The Elizabeth Line will connect with existing Thameslink and the London Underground lines at Farringdon. Most importantly, travel times to other parts of central London – Paddington, Oxford Street, Bloomsbury and Canary Wharf – as well as suburban London and Heathrow Airport will be hugely improved.


Map of Farringdon & Clerkenwell

Underground Stations

  • Farringdon
    • Circle
    • Hammersmith and City
    • Metropolitan
  • Barbican
    • Circle
    • Hammersmith and City
    • Metropolitan

National Rail Stations

  • Farringdon

Bike Docking Stations

  • Clerkenwell Green, Clerkenwell
  • Berry Street, Clerkenwell

Business in Farringdon & Clerkenwell

  • All types of office accommodation from small studios to large corporate buildings
  • Desirable creative office space with a “warehouse” feel, for leased space, serviced and co-working space.
  • December 2018 – Elisabeth Line (Crossrail) will open connecting Farringdon with key locations across London from East to West – with greatly reduced travel times

Leisure & Culture in Farringdon & Clerkenwell

Popular Business Addresses in Farringdon & Clerkenwell

The most sought after office locations within Farringdon & Clerkenwell include:

Office Types available to rent in Farringdon & Clerkenwell

These types of office can all be found in Farringdon & Clerkenwell:

Nearby Areas

Other commercial office areas located close to Farringdon & Clerkenwell

  1. Shoreditch
    • Coworking
    • Leased
    • Managed
    • Meeting Rooms
    • Serviced
    Old Street, Old Street, EC1V 9HX
    from £600.00

    Nestled in an area bustling with creative and entrepreneurial spirit, this business centre has been extensively refurbished throughout to provide stunning creative style serviced offices in the heart …
    Find out more...

  2. Farringdon & Clerkenwell
    • Managed
    Easton Street, Clerkenwell, WC1X 0BE

    Ink rooms provides an ideal location for companies seeking office space in an exciting part of town. The building, formerly a printing factory, has been transformed into 37 breath-taking studios & off…
    Find out more...

  3. Farringdon & Clerkenwell
    • Coworking
    • Managed
    • Serviced
    Mount Pleasant, Clerkenwell, WC1X 0AE
    from £500.00

    This newly refurbished period style conversion located in the heart of Clerkenwell is brand new to market and offers fully furnished office space with air-conditioning and fitted with IT & Telephony t…
    Find out more...

  4. Farringdon & Clerkenwell
    • Managed
    Situu, 1, Sans Walk, Clerkenwell, London, EC1 0LY

    This is a self-contained ground floor office with it's own front door close to 2 mainline underground stations. Currently available, this office which can accommodate 18 to 25 desks is 1551sqft and in…
    Find out more...

  5. Holborn
    • Meeting Rooms
    • Serviced
    Southampton Buildings, Chancery Lane, WC2A 1AP

    Having recently undergone an extensive refurbishment, this stunning 8-floor period style property is just a stone's throw from Chancery Lane tube station. These prestigious serviced offices combin…
    Find out more...

  6. Farringdon & Clerkenwell
    • Managed
    Albemarle Way, Clerkenwell, EC1V 4JB
    from £310.00

    Only a five minute's walk from nearby Farringdon Tube Station, and just 1 minute from St. John's Square, these modern Clerkenwell office spaces showcase floor-to-ceiling windows giving the rooms maxim…
    Find out more...

  7. Farringdon & Clerkenwell
    • Managed
    St. John's Lane, Farringdon, London, EC1M 4BG

    Situated in the heart of one of London's most iconic creative hubs, rent managed office space in Farringdon on all-inclusive, flexible terms. Having undergone a recent refurbishment, this property pro…
    Find out more...

  8. Farringdon & Clerkenwell
    • Managed
    St Cross Street, Farringdon, London, EC1N 8XA

    Offering a fantastic location in the heart of Farringdon, adjacent to famous Leather Lane market. these contemporary managed offices to rent in London are ideal for businesses looking for a fully cust…
    Find out more...

  9. Holborn
    • Coworking
    • Serviced
    Fulwood Place, Holborn, WC1V 6HG
    from £675.00

    This Centre opened in October 2020 named The Fulwood is a brand-new private location based in the heart of midtown. The property extends over 18,000sqft and comprises of small to large offices, meetin…
    Find out more...

  10. Farringdon & Clerkenwell
    • Managed
    Pine Street, Clerkenwell, EC1R 0JH

    Clerkenwell, a desirable part of Central London is home to this sophisticated business hub. Exmouth House, with its striking atrium offers trendy office and studio spaces ranging from 170 to 7,115 sqf…
    Find out more...

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5 desk office in Clerkenwell acquired for an energy company.

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