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Serviced offices in London take up 7% of city's office space

London serviced offices continue to keep the city well ahead of other major business centres in Europe, new data has revealed.

Serviced offices in London now account for as much as 7% of the capital’s total office space, according to figures published recently by Statista.

The research relates to the first quarter of 2020 and was published by Statista in February 2021, based on a report by BNP Paribas.

It shows that serviced offices in London comprise the fourth-largest specified use of floor space, behind professional services, banking & finance and media tech.

And the headline figure echoes previous estimates of the London serviced office sector, which is a leading light for the whole of Europe.

UK serviced offices out in front

This is not the only recent evidence to support the suggestion that London serviced offices are performing well in comparison with other cities on the continent.

In September 2020, we reported on an article in Property Journal in which Tom Sleigh put the serviced office sector across Europe at around 2% of floor space on average.

But he noted that in the UK, the figure is significantly higher:

• Serviced offices in Manchester account for approx. 4% of floor space.
• Serviced offices in London account for approx. 6% of floor space.

This new report from Statista backs up that claim for the capital, and suggests that London serviced offices may comprise even more of the city’s workspace than previously thought.

Doing more with London office space

With commercial real estate in London at a premium, it makes good sense for serviced office providers to occupy a growing percentage of the city’s workspace.

That’s because serviced offices in London allow more businesses to be based in a prime postcode like the Isle of Dogs, where the Serviced Office Company’s premises are located.

Serviced offices are an efficient use of available space:

• Companies can occupy an office only as big as they need.
• Multiple occupants can share access to meeting rooms in London’s CBD.
• Further businesses can be based elsewhere using virtual offices in London.

Virtual offices in London‘s most desirable districts mean there is theoretically no limit to the number of businesses that can have a postcode and geographical telephone number in the capital.

Yet the employees are not based there physically. Instead they work remotely and any correspondence is forwarded on for attention, supporting completely flexible modes of working.

Enquire about London serviced office space

If you would like to know more about our London serviced office space, including our recently opened Business Centre in the Millennium Quarter, please get in touch and we will be happy to answer your questions.

You can contact the Serviced Office Company:

• By phone on 0800 319 6600
• By email at info@servicedofficecompany.co.uk
• By filling in our online contact form

All enquiries are very welcome and we will respond to you as soon as a member of our team is available to give you a full answer to any questions you may have asked.