Brighton Among the Cheapest Cities To Rent Office Space, Finds Study

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FreeOfficeFinder has carried out some research to find out where in the UK is the best value for money when it comes to office space and location. Surprisingly, Newcastle tops the list for cheapest offices in the UK. According to statistics an average private office would set you back £186 per month, and a co-working space would be just £98. The capital of Wales is next on the list, with Cardiff costing £210 for a private office and £162 for a co-working space. Liverpool could be an ideal place to set up a new business or open an office. It is the fourth cheapest on the list, costing £237 per month for a private office and £153 for a shared space. It is followed by Slough where it costs £239 for a private office and £220 for a shared space. Next on the list is Basingstoke where it costs £245 for a private office space and £202 for a coworking environment. Aberdeen is next on the list, costing £258 for a private office retrospectively and £238 for a shared office space.

It is followed by Milton Keynes, costing £262 for a private office space and £184 for a shared environment.  This is a particularly good option for businesses near London as it is under a one hour and 35 minute commute to the capital city. Brighton emerged as one of the cheapest cities to rent office space – here a private office costs £292 per month, and a co-working space would be £212. This would make huge savings for a business compared to setting up in London which is the most expensive area for rent – costing an average of £505 per month for a private office and £295 for a shared space. Cambridge is the second most expensive area to open an office, where it would set businesses back £456 per month for a private office and £266 for a communal space.

Pricing tool showing live data of office space costs across the UK

Nick Riesel, managing director of FreeOfficeFinder.com, said: “Despite the pandemic, office prices have remained fairly steady in the serviced office industry. Many providers have chosen to offer incentives such as discounted/rent-free periods for a set amount of time instead of reducing general rates for an ongoing basis”.

The industry is also seeing many companies who would have taken a leased office now look to take serviced office, due to the now imperative flexible terms needed, so the occupancy has remained stable for many business centres.Choosing the location for your business hub is very important and while the area is important, the price tag is equally crucial. Hopefully our research has help professionals make the challenging decision.”

Area – Private office // Coworking space

Newcastle – £186 // £98

Cardiff – £210 // £162

Liverpool – £237 // £153

Slough – £239 // £220

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Basingstoke – £245 // £202

Aberdeen – £258 // £238

Milton Keynes – £262 // £184

St Albans – £267 // £262

Brighton – £292 // £212

Glasgow – £294 // £115

Bristol – £302 // £228

Oxford – £309 // £203

Edinburgh – £314 // £217

Manchester – £315 // £213

Birmingham – £330 // £208

Reading – £343 // £217

Leeds – £417 // £210

Cambridge – £456 // £266

London – £505 // £295

Average – £304 // £205

 

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