Renting office space near Monument is second most pricey in London Zone 1 – but what’s top?
Renting office space near Monument station in the heart of the City means you’ll be forking out the second-highest rates in London’s zone one, new research has claimed.
The figures from office rental agency Freeofficefinder shows top of the list is the Victoria area with average rents of approximately £900 a week for private office desk space.
Knightbridge, Hyde Park Corner and Lancaster Gate were also in the top five, charging on average more than £800 each, but it was one of the Square Mile’s busiest stations that came runner-up to Victoria.
Monument station, which has a link to the enormous Bank Station, props up the price of private rental desk space to a whopping £879.
Canada had the third highest average compared to other London boroughs, at £660 on average.
This comes as many firms in the Square Mile have encouraged their workers to get back to the office, with some companies offering options including working three or four days in the office.
Some workers have decided to only work Tuesday’s, Wednesday’s and Thursday’s, leading to this newspaper coining the term T.W.a.T.s, as firms look to save some cash by cutting out two days of office-based work.
Just a short walk across the Thames, London Bridge is nearly £100 cheaper than Monument at £693, with Liverpool Street coming in way below the average of £649, at just £553.
Nick Riesel, managing director from Freeofficefinder.com said: “Renting an office in London can be a daunting proposition for businesses, particularly for those who are just starting out. London is one of the most expensive cities in the world, and this is reflected across tube stations such as Victoria, Monument and Knightsbridge.
“For businesses on a tight budget, our research pinpoints the best places to begin your search, with Vauxhall, Angel and Barbican offering great value for money.”
The cheapest station was Vaxhaull in south London., followed by Angel and Barbican, all csoting on average under £500.
Victoria’s eye-watering £900 price tag is £251 more than the combined average across zone one.
Westminster came out on top as the most expensive borough in which to rent office space, with an average eight per cent higher than the capital’s average