City of London Office Space Guide
Overview of the City of London
The City of London’s history is rich and storied, stretching all the way back to the Romans more than 2,000 years ago. Over the years it has managed to withstand everything from plagues and fires to civil wars and aerial bombardments, and throughout it all has continued to flourish into one of the world’s most significant financial and cultural capital cities.
Modern insurance, finance and banking companies are the dominant force in the area, with the impressive glass skyscrapers integrated with the grand, historical architecture that gives the City of London so much character. It’s the ideal location for all types of businesses due to the fantastic transport links and networking opportunities that are available, providing a platform for new arrivals to realise their full potential.
Average price ranges for City of London offices
Wherever you are thinking of moving offices to in the City, it helps to get an initial idea of office rental costs. The table below offers a brief overview of potential prices you would pay each month:
Average Price per workstation
Price comparison for neighbouring areas
Companies who are located in surrounding areas typically have to pay rates similar to the below:
Offices to Rent in the City of London
Over 500,000 people work in the City of London and while it is widely regarded as the financial capital of Europe, there is still ample opportunity for other industries to make the most of what the area has to offer.
The area is renowned for its start-up culture, which has provided the platform for several emerging sectors, the most recent being Fintech. Entrepreneurs and investors come together to develop new and exciting ideas and having access to flexible office space that allows for organic growth is essential.
Office building architecture in the City of London varies greatly from historic Georgian and Victorian constructions to sleek modern and contemporary designs. Younger companies may prefer to set up in a glass-fronted office to match their emerging status, while more established companies enjoy the branding benefits that come from working in a more traditional environment.
You’ll find serviced offices almost everywhere you look in the City of London, either on main roads or along the many small side streets. The exteriors can often prove misleading as these tend to be older buildings that offer plenty of space and storage room and can be a sensible economical option for smaller companies looking to make their mark on the area.
Contemporary serviced offices in the City of London offer staffed reception areas where guests can sign in and out, meeting rooms, courier services and all the basic amenities needed to run a business, such as internet and Wi-Fi and basic office furniture. Depending on the terms of the agreement you could have the option to expand your operation if you are a fast-growing company and both short and long-term contract options ensure you won’t be tied down for too long if you need to make another move in the future.
What type of businesses set-up in the City of London?
The City of London is referred to as the financial hub of Europe, with the world’s largest banks, insurance companies and financial investment companies all maintaining a strong presence. Fintech businesses have grown significantly in numbers over the past 5-10 years, as they work collaboratively with investors and partners in the finance sector. But there is plenty of room for other business types, with over 14,000 companies providing a wide range of services.
Some of the companies based in the City of London include:
- Lloyds Bank
- Deutsche Bank
- Goldman Sachs
Facilities in the City of London
It’s important to have the right facilities available to support the growth of your business and the City of London doesn’t disappoint in that regard.
Networking with Local Businesses
If you are new to the City of London, it makes sense to explore the networking opportunities in the area and there is usually an event taking place that you can sign up to.
City Business Networking is designed for business owners and entrepreneurs, providing a friendly and informal environment for networking lunches once a month. The Women in Business Network is a well-established organisation that brings together businesswomen working in the area who want to develop new commercial relationships. Exponential Events also run networking brunches once a month, giving businessowners the opportunity to connect with others to grow their business.
The area welcomes businesspeople from all over the world and is supported by a fantastic transport network.
What tube stations are in the City of London?
Tube stations in the area include Liverpool Street (Central Line/Circle and District line/Metropolitan Line), Bank (Central Line/Northern Line), Chancery Lane (Central Line) and Monument (Circle and District Line). This makes it easy to move around the city during the working day, while staff have plenty of choices when it comes to travelling to and from work.
What mainline train stations are close to the City of London?
You can find British Rail connections at the likes of Liverpool Street (a major overground rail station in London), Blackfriars, Cannon Street and Fenchurch Street. London St. Pancras is only 2.5 miles away from the City of London and you can also travel directly to Stratford international on the Central Line in about 30 minutes. Whether you are travelling to meet a client, or welcoming them to your offices, the vicinity of the stations makes the travel routes relatively hassle free.
What other transport options are there in the City of London?
Buses travel to and from the area from all parts of the capital, so employees have plenty of commuting options if trains are not suitable or too expensive. Black cabs and hail ride services are easy to find and available right throughout the day, so clients visiting your offices can get around easily.
What is the closest airport to the City of London?
London City Airport is the closest, located in the Docklands. While it does offer international routes, it isn’t a major airport, so Heathrow is the best option for a much wider selection of flights around the world. By road it takes around an hour to arrive at Heathrow, while you can reach Gatwick in about 80 minutes.
Things to do in the City of London
Outside of work the City has a fantastic range of bars, restaurants and entertainment options to explore, so you’re never short of things to do.
What are the best restaurants and bars in the City of London?
Whether it’s entertaining clients or unwinding after work, the area has a wonderful selection of bars and restaurants to enjoy. Hawksmoor Guildhall is renowned for top quality steaks and Brigadiers offer a fantastic Indian barbecue. The Ivy City Garden serves up modern international fare, while the Bleeding Heart Bistro is the place to go for classic French cuisine.
Recommended bars to visit include the classy Jamies Tudor Street, the chic basement bar Dirty Martini Monument, the sophisticated Demon, Wise & Partners, while the Old Red Cow and The Viaduct Tavern provide more traditional pub settings.
What are the best gyms and fitness facilities in the City of London?
It’s beneficial for your employees and your business if you are located nearby to gyms and fitness facilities and the City of London has plenty of offer. There’s Puregym over at St Pauls and at Fenchurch Street Station they’ll find Third Space London which combines luxury with a variety of fitness options. Or they can try out Gymbox in Bank with is ideal for city workers. City Athletic and CitySport are two gyms in the area that also come highly recommended.
Where can I go shopping in the City of London?
There are both contemporary and traditional shopping districts in the area to discover. Spitalfields Market is one of the area’s most famous landmarks with all kinds of stalls available, Petticoat Lane Market is famous for its leather and clothing goods and Leadenhall Market hosts weekly markets. One New Change is a large retail centre spread across three floors and Cheapside has lots of banks, high street stores and eateries.
What can I do for entertainment in the City of London?
Aside from the many pubs, bars and restaurants, there is a long list of things you can do to have fun. The Barbican Centre is known around the world for its curated selection of art, music, theatre, dance and film. Billingsgate Roman House and Baths reveals the long, rich history of the area dating back to Roman times and the Museum of London covers the entire history of the capital. Central London and the West End are only 20-30 minutes away by car, bus or tube, which opens up a wealth of entertainment options after work.
Looking to rent office space in the City of London?
If you’re looking to rent office space in the City of London, the Prime Office Search team can help. Thanks to our experience in this part of London we can help you find the best workspace for your company, ensuring you make the most of your budget and find a workspace that works for your business and employees.
City of London Office Space FAQs
Are office spaces in the City available on flexible terms?
Setting up your business in the heart of London means you have a wealth of options when it comes to office space. Flexible terms are in high demand in the City of London, as companies of all sizes working in a variety of sectors need offices that can adapt to their changing needs. It means you can grow your operations without being restricted by lease terms and focus on the things that matter for your business.
Which areas make up the City of London?
The City of London is referred to as ‘the Square Mile’ even though it covers an area of around two square miles. It stretches from Temple to the Tower of London, over to Liverpool Street and Chancery Lane. The City of London also encompasses Blackfriars, Bank, Monument, Aldgate and Barbican.
Is City office space right for my business?
There are several factors that will determine if City office space is right for your business. However, if you are looking for a part of London that has great transport connections, a variety of business sectors working side-by-side and plenty of amenities that can support your company, then the City of London could be a good fit for you.
What does City Serviced Office Space include?
Serviced office space in the city gives you access to everything you need to become commercially active. This includes:
- Spacious offices to suit companies of all sizes
- Internet connections and IT set-ups
- Office furniture (desks, chairs etc.)
- Meeting rooms for internal and external meetings
- Courier and postal services
- Staffed reception desks to greet clients and guests
What neighbouring areas could I also consider for my business?
If the City of London isn’t the right fit for your business, you may want to consider some of the surrounding areas as an alternative. This includes the likes of London Bridge, Finsbury, Old Street, Covent Garden, Farringdon and Clerkenwell, all of which have a lot to offer start-ups, entrepreneurs and established growing companies.
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