Serviced Office Spaces in the City of London: Ultimate FAQs Answered

Serviced offices are an innovative workspace solution emerging as a game-changer for businesses looking for professional, flexible, and cost-efficient office spaces. London's serviced office boom brings a wealth of options, but it’s easy to be overwhelmed by all the information out there. 

In this comprehensive guide, we answer all of your questions about serviced offices in the city of London, to help you decide if they are right for you.

The Basics

What exactly is a serviced office?

Serviced offices are fully furnished workplaces that a third-party provider manages. They come with essential amenities and services and can be used as a company’s dedicated office headquarters.

These managed office spaces enjoy flexible leasing terms, meaning that businesses can rent them out as they need without being locked into a long-term contract.

How does a serviced office differ from a traditional office lease?

Rather than having to rent out an office space in a fixed contract, serviced offices and other flex spaces (such as coworking spaces or virtual offices) are leased on a monthly, membership basis.

These flexible terms are proven to be more cost-efficient, as you don’t have to provide any office equipment or maintain the facilities on your business’s budget. Naturally, you can opt for a lengthier lease, which generally saves on costs over time.

What types of businesses are best suited for serviced offices?

Serviced offices are a great option for a variety of businesses, including start-ups, small and medium-sized enterprises, and larger companies expanding into new markets. They also make perfect workspaces for freelancers, professional service workers (lawyers, consultants, etc.), and sales teams that engage in frequent travel.

Costs and Contracts

How much does a serviced office in the City of London typically cost?

As of 2024, the average monthly cost of a serviced office in London is £700 per person. This price can range from £500 on the lower end to well over £1500 for the most prestigious serviced offices available.

What factors impact the price?

Location

It goes without saying that a London serviced office space in the most sought-after areas comes with a premium. 

The “prestige tax” means that a fully furnished serviced office in central London hotspots such as Mayfair and Square Mile will be priced on the higher end. The demand to be in the heart of these business centres comes from businesses wanting to enhance their professional image and gain a commercial advantage.

Areas beyond central London, such as Canary Wharf, are also seeing an uptick in demand, but they are still more cost-efficient.

Capacity and Floor Size

Every square metre matters when it comes to the price of your serviced office, with spacious, fully furnished offices resulting in higher leasing fees.   

Facilities and Services

Although most serviced offices come with key features such as meeting space, air conditioning,  a kitchen, and bike storage, some service providers go above and beyond.

Serviced offices with excellent facilities such as an on-site cafe, roof terrace, breakout spaces, and an entire floor of modern amenities come with a higher price tag.

Market Demand

Market demand and competition also determine the prices of serviced office space, as popular areas where supply is limited significantly drive up costs.

For a full breakdown: How much should you pay for a Serviced Office in London

Are there any hidden costs to be aware of?

No. In most serviced office memberships, there are additional charges for some service offerings, even ones that seem standard. However, these charges are communicated to the business to ensure fair practices.

It’s important to be wary of charges for using meeting rooms beyond a base allocation, additional printing quotas, or IT support beyond basic troubleshooting.

Most providers also charge a set-up fee for your first month, but this is still significantly more cost-effective than setting up a traditional office space.

As always, before signing anything, ensure to read your flexible lease contract carefully and ask detailed questions about any additional fees associated with services you anticipate needing.

How long are the lease terms/contracts?

Since serviced offices offer flexible terms, your contract can last for as long as you see fit. The essence of a flexible office space remains in its malleability.

What flexibility do I have if my business needs change?

When you switch to a serviced office space, you enjoy the benefit of scalability to meet your business requirements.

Many London serviced offices will allow you to easily add or subtract desk spaces or number of memberships accordingly. 

Practical Considerations

What amenities and services are typically included with a London serviced office?

For a basic serviced office plan, you can expect to find the following amenities:

• Desks, monitors, and chairs
• Tea or coffee-making areas or kitchenettes
• Access to meeting rooms or office suites
• Mail handling and telephone answering services

Providers on the higher end of the pricing average tend to offer a greater variety of services, which may or may not include:

• A dedicated receptionist or administrative/IT support
• High-speed internet and VPN connections
• Private offices and meeting rooms
• Fully furnished ergonomic office and meeting space filled with natural light and collaborative zones
• Specialised software and apps to make business operations smoother

Although some of these amenities may seem like unnecessary luxuries at first glance, they are actually really important to ensure your business’s day-to-day operations remain productive.

Serviced offices with top-notch facilities can be surprisingly cost-effective for the long term. They eliminate the need for upfront equipment investments and ongoing service contracts, which are handled by dedicated staff.

What about IT infrastructure and internet speeds?

A good London serviced office boasts sophisticated IT infrastructures designed to make managing your business easier. These can include custom SSIDs and VLANs, in-house network monitoring, or meeting room booking systems.

One IT service unique to Servcorp is our Onefone App, where your business can connect your desk phone to your personal smartphone. This allows you to easily access calls whenever you need them.

What are the security measures in place?

Although serviced offices are known for their advanced security measures, each managed office space provider offers different levels of security. For most businesses, the standard building lock systems and secured storage options are sufficient, as only your team and your receptionist can access these.

It can be challenging to find a provider who meets the needs of businesses that deal with confidential or sensitive information that requires extra security.

Are there options for customisation or branding my space?

Customisation options in serviced offices are generally limited compared to any traditional office space.

Some serviced offices might offer branding opportunities in shared spaces such as lobbies or common areas, but this depends on the provider you choose.

Location and Access

How to choose the best-serviced office in the city of London?

Finding the best location for your business in central London comes down to what you prioritise in an ideal office space.

Related: The 4 Best Serviced Offices in the City of London

Are there serviced offices near important business hubs or amenities?

Securing a serviced office space in a business centre in London is the dream of many companies and enterprises looking to establish their credibility. Fortunately, there are many serviced offices located in bustling financial hubs.

Our top 3 London city areas to set up your serviced offices:

Mayfair Place:

• Surrounded by some of the best scenery London offers including Buckingham Palace and Green Park
• London’s most affluent neighbourhood with upscale restaurants and shops
• Access to the Piccadilly, Victoria and Green Park tube lines

Learn more about serviced offices at One Mayfair Place.

Canary Wharf:

• Up-and-coming hotspot with hundreds of restaurants, bars and shops
• City skyline views, including glimpses of the Thames and London Bridge
• Close to the head offices of renowned multinationals such as ANZ Bank and JP Morgan Chase

Learn more about serviced offices at Canary Wharf.

Leadenhall Street:

• Inside Leadenhall Building, this office space in Square Mile is just a short walk to Mansion House, London Stock Exchange, King William Street and Cannon Street
• Transport links include Cannon Street Station, Bank Station and Fenchurch Street Station
• Enjoys unbeatable views of iconic sites such as Tower Hill, Heron Tower and St Paul’s Cathedral

Learn more about serviced offices at The Leadenhall Building.

Servcorp recommends finding an office space that is close to transport links, cafes, restaurants, shops, and other esteemed businesses. 

Finding the Right Provider

Where can I find serviced office listings for the City of London?

There are a couple of good search options besides just Googling “London serviced offices”.

The City of London website itself has a page dedicated to serviced office space, including a map and contact details for advisors who can help you find the right office space.

Beyond that, several online marketplaces may be useful. We recommend starting with Servcorp’s Serviced Offices. 

What questions should I ask potential providers?

As the flexible office solutions experts, Servcorp recommends always asking these important questions:

• What are your flexible terms and how do they compare to your competitors with similar offerings?
• Are there any hidden fees and upkeep costs I need to be aware of?
• How is access to private offices and meeting rooms secured/booked and how can I ensure I can use these when something happens last minute?
• What services do your receptionists and admin support offer?
• What times can I access the building and other facilities?

Should I use a broker or search independently?

Deciding whether to use a broker or search independently for a serviced office depends on your time constraints and expertise. Whilst brokers specialise in leveraging their networks and finding cost-saving deals, these often come with a fee.

If you have the time, researching on your own allows you to directly compare services and gives you more control over the search process.

It’s up to you to determine if the convenience and potential cost savings of a broker outweigh the control and broker fees of an independent search.

Alternatively, if you’d like to talk to a local London serviced offices expert, then you can reach out to our friendly team through our contact form or phone call.