RENT GUIDE

RENT RATES & SERVICE CHARGE GUIDE 2019

Expedite’s guide to the average rent rates for commercial office occupancy in London Central for 2019. As you click on each area below you will see a short summary of the selected area and typical costs for new/refitted Grade A office spaces per annum.

King's Cross

The unparalleled transport connections in the King’s Cross area has created huge demand for office space, it is now home to one of the largest redevelopments in London. What was an underused industrial wasteland has been transformed to include homes, shops, offices, galleries, bars and restaurants.

Rent: c. £75.00

Business Rates: c. £21.00

Service Charge: c. £11.00

Total Occupancy Cost: c. £116.00

Costs = per sq ft, per annum

euston

Although it is not expected to complete until at least 2026, HS2 will link Euston to Birmingham with trains travelling at up to 250mph. This has resulted in massive improvements to the station and urban realm in the surrounding area.

Rent: c. £67.50

Business Rates: c. £30.00

Service Charge: c. £11.00

Total Occupancy Cost: c. £108.50

Costs = per sq ft, per annum

clerkenwell

Through the 19th century, Clerkenwell became a hotspot for breweries and the printing industry. The area is now known for warehouse/media style offices in these former industrial buildings.

Rent: c. £62.50

Business Rates: c. £21.00

Service Charge: c. £11.00

Total Occupancy Cost: c. £94.50

Costs = per sq ft, per annum

city fringe north

The area has already seen significant redevelopment and has become home to a pronounced concentration of technological industries. Office occupiers can enjoy the bustling entertainment, dining and nightlife of the renowned areas of Hoxton and Shoreditch High Street nearby.

Rent: c. £60.00

Business Rates: c. £20.00

Service Charge: c. £11.00

Total Occupancy Cost: c. £91.00

Costs = per sq ft, per annum

paddington

The waterside community comprises cafés, bars, restaurants and sought-after office space. The Station currently benefits from several Underground lines, as well as direct access to Heathrow Airport.

Rent: c. £67.50

Business Rates: c. £26.00

Service Charge: c. £11.00

Total Occupancy Cost: c. £104.50

Costs = per sq ft, per annum

marylebone

The area is characterised by its smart Georgian streets and the world-famous shopping destination towards its southern edge – Oxford Street. The area is bordered by several well-connected transport hubs, as well as both Regent’s and Hyde Park.

Rent: c. £75.00

Business Rates: c. £40.00

Service Charge: c. £11.00

Total Occupancy Cost: c. £126.00

Costs = per sq ft, per annum

fitzrovia

Situated centrally between the West End and the City, Fitzrovia was primarily an area for the fashion industry but the district is also home to a number of advertising and television agencies.

Rent: c. £72.50

Business Rates: c. £35.00

Service Charge: c. £11.00

Total Occupancy Cost: c. £118.50

Costs = per sq ft, per annum

bloomsbury

This district is home to numerous universities, museums and even hospitals. The roads are generally lined with elegant Georgian Townhouse and are punctuated by regular parks and garden squares.

Rent: c. £70.00

Business Rates: c. £30.00

Service Charge: c. £12.00

Total Occupancy Cost: c. £112.00

Costs = per sq ft, per annum

farringdon

The introduction of the long-awaited Elizabeth Line should take place from Autumn 2019, with Farringdon Station as a focal point of development. The Line has brought a wealth of cultural and public realm improvements to the area, as well as a number of impressive office developments.

Rent: c. £67.50

Business Rates: c. £22.00

Service Charge: c. £10.00

Total Occupancy Cost: c. £99.50

Costs = per sq ft, per annum

mayfair

This area is synonymous with affluence, fashion and fine dining, however there is now a large commercial presence here too. Mayfair still retains a prestigious status within London as the most expensive property square on the Monopoly board.

Rent: c. £85.00

Business Rates: c. £50.00

Service Charge: c. £12.00

Total Occupancy Cost: c. £147.00

Costs = per sq ft, per annum

soho

Renowned for being the bohemian area of Central London, Soho benefits from numerous bars and restaurants, as well as a large concentration of boutique fashion shops near the world-famous Carnaby Street.

Rent: c. £72.50

Business Rates: c. £40.00

Service Charge: c. £12.00

Total Occupancy Cost: c. £124.50

Costs = per sq ft, per annum

covent garden

Office occupiers sit atop numerous retail occupiers, bars and restaurants in Covent Garden. The area is also a renowned location for tourism and for its numerous Theatres.

Rent: c. £60.00

Business Rates: c. £32.00

Service Charge: c. £12.00

Total Occupancy Cost: c. £104.00

Costs = per sq ft, per annum

midtown

The legal profession has been Midtown’s traditional and recognised occupier base due to the proximity of the law courts. However, in recent times the submarket has attracted a more diverse tenant base.

Rent: c. £60.00

Business Rates: c. £28.00

Service Charge: c. £12.00

Total Occupancy Cost: c. £100.00

Costs = per sq ft, per annum

City of london

London’s primary Central Business District, this area is dominated by corporate occupiers and sees a huge influx of commuters on each day of the working week. The City skyline is dominated by several distinct towers, with even more planned or under construction.

Rent: c. £60.00

Business Rates: c. £24.00

Service Charge: c. £11.00

Total Occupancy Cost: c. £95.00

Costs = per sq ft, per annum

City fringe east

The area has experienced increased development in recent years, often from the sprawling City of London to its West. However, with increased connectivity from the incoming Elizabeth Line, this theme looks set to continue.

Rent: c. £57.50

Business Rates: c. £20.00

Service Charge: c. £10.00

Total Occupancy Cost: c. £87.50

Costs = per sq ft, per annum

Docklands

The focal point of the Docklands is Canary Wharf, an area dominated by an iconic tower cluster which is comprised of around 16,000,000 sq ft of office and retail space.

Rent: c. £50.00

Business Rates: c. £17.00

Service Charge: c. £11.00

Total Occupancy Cost: c. £78.00

Costs = per sq ft, per annum

St james’s

This small district commands the highest commercial rent level in Central London. Traditionally home to British Aristocracy, the area is bordered by Green Park to the West, St. James’s Park to the South and Trafalgar Square to the East.

Rent: c. £100.00

Business Rates: c. £52.00

Service Charge: c. £12.00

Total Occupancy Cost: c. £164.00

Costs = per sq ft, per annum

Victoria

The Central Business District of the City of Westminster, Victoria has a large base of commercial occupiers and, more generally, the British Parliament, that both benefit from excellent transportation links at Victoria Station.

Rent: c. £65.00

Business Rates: c. £33.00

Service Charge: c. £12.00

Total Occupancy Cost: c. £110.00

Costs = per sq ft, per annum

Waterloo

The area benefits from extremely good transport connections and from the cultural hotspot on the South Bank. Huge office developments have recently sprung up between Waterloo Station and the river, an indication of the appeal that the area has for commercial occupiers.

Rent: c. £65.00

Business Rates: c. £22.00

Service Charge: c. £11.00

Total Occupancy Cost: c. £98.00

Costs = per sq ft, per annum

London bridge

Positioned across the River from the City of London, this area is dominated by the tallest building in Western Europe – The Shard, which overlooks the bustling Borough Market and indeed the rest of Central London.

Rent: c. £60.00

Business Rates: c. £20.00

Service Charge: c. £10.00

Total Occupancy Cost: c. £90.00

Costs = per sq ft, per annum