London Office Space – Second Most Expensive

According to property consultants London office space was over taken by Hong Kong as the world’s most expensive office space. Previously London’s West End was the leader in expensive office space.

The average annual cost per workstation in 2010 for Hong Kong’s central districts went from $17,000 to $22,000, a massive increase of 31%! London Office space on the other hand, which took second place in 2010, had an occupancy cost of $20,000 per workstation – a meagre 4% increase from 2009. Third place was occupied by Geneva, whose annual rate went up by 12% hitting $18,000 in 2010.
The study was conducted by analyzing the cost of occupancy in 121 business districts in 47 countries, with occupancy costs calculated by taking into account rent, maintenance costs and taxes.

If anything this study reinforces the exorbitant costs associated with prestigious central locations, and the difficulties that start-ups and small businesses face when trying to establish in these areas. This is especially the case as to create a business image that is professional and substantive often requires a central office location as a prerequisite. This is why at eOffice we stress the flexibility and affordability of both our serviced offices and virtual office solutions. They let businesses enjoy central city locations, yet without the high costs as seen above. What’s more with our eNetwork you can also get access to great services around the world, not just in London. For a full list of our locations please click here.