Office rental in London comes in a range of sources from city centre hotdesking to converted warehouses on the outskirts. There are a few common issues with renting an office space in the country’s capitals though:
- Expense – London is the 4th most expensive city in the world to rent an office, with office rental in London only being beat by Paris, Tokyo and Hong Kong. It’s worth bearing in mind that the ongoing cost to rent an office in London is only half of the problem. Deposits and set up costs are also very high and for most SME’s this can just be too much to find in one go.
- Travel – London might have an extensive travel system in the tubes, buses and trains, but with many people choosing to live outside London due to rental and buying costs, it still adds up to a long and/or expensive commute. As a result, you’d be looking at looking a higher wage.
- Competition – London has over a million businesses, and as a result, you’ve got a lot of competition if you’re looking to target a local market.
- Space – many offices in London are smaller sizes for the money that you would spend, which means you’d have more people in a more concentrated space, making for a cramped feel.
Can you get the feel of office rental in London, but outside London?
Office rental in London isn’t the only option if you’re looking for a connected office space close to London locations. If you’re looking for connectivity but without the expense, travel issues, competition and confined space, Surrey is worth a look. It’s the ideal rural alternative to renting an office in London. There are towns such as Woking, Guildford and Farnham, it’s less than 30 minutes by train to the centre of London and you get rural views not available in the city centre.