London is home to over one million businesses. This brings countless opportunities for companies to network, collaborate, and expand. But within the capital’s rich tapestry of industries lies the City of London, which is a world-class business ecosystem of its own.

Also known as ‘The Square Mile,’ this compact hub alone generates £85bn in annual economic output. And, despite flexible working trends, commercial property in The Square Mile is in high demand.

In fact, the City of London Corporation reported a 70% increase in office development approvals in 2021.

Even in a world where many people can work remotely, office space in the City of London is still valuable for businesses. We explore why this is the case, below.

What makes up the City of London?

The City of London, or ‘the City’ is the capital’s financial district. It has been the country’s main hub for trade and commerce since the Roman period.

Today, it’s home to some of the world’s biggest financial institutions. It also hosts key players in law, media, publishing, professional services, and technology.

The area’s boundaries go from Temple to the Tower of London along the River Thames. Meanwhile, the northern side stretches from Chancery Lane to Liverpool Street.

The Square Mile includes neighbourhoods like Barbican, Cannon Street, and Blackfriars. It has many famous landmarks like St Paul’s Cathedral and Guildhall. It also contains prominent skyscrapers like 20 Fenchurch Street and The Gherkin.

Why you should consider an office space in the City of London

The City is a prestigious location. Whether it’s a private office space in Barbican or a shared workspace on Fleet Street, an office here creates instant gravitas thanks to being so close to other globally recognised businesses.

By opting for permanent office space in the City of London, you’ll promote a professional image and have greater access to meeting space. There’s also no shortage of networking events where you can create and capitalise on new opportunities.

A permanent office in Central London also puts you close to world-class entertainment. This is ideal for impressing clients and investors. London’s amazing bars and restaurants are also within easy reach, providing a fabulous work-life balance.

World’s leading commercial hub

The City of London is home to domestic and global brands. From The Bank of England to Goldman Sachs, office space in the City of London places you among some truly big names.

Other companies with a big presence in The Square Mile include professional services giants Deloitte, PWC, and KPMG. UBS, BT Group, AVIVA, and Sky News are also in the area.

Whatever your industry, surrounding yourself with distinguished companies like these provides priceless opportunities to network and elevate your business.

Transport options

Having an office that is accessible for both Londoners and commuters is key to attracting top talent in the current market. That means that proximity to public transport is a major benefit of any office in Central London.

Overground train stations within The Square Mile include:

● City Thameslink
● Blackfriars
● Cannon Street
● Moorgate
● Liverpool Street

Nearby tube stations include:

● Barbican
● Moorgate
● Liverpool Street
● Aldgate
● Mansion House
● Tower Hill

For companies that require both domestic and international travel, London City Airport is only nine miles away. Clients and employees can travel from the airport to the office in less than 30 minutes via the DLR.

How much is it to rent an office space in the City of London?

The cost of workspace in Central London varies depending on several factors like size, location, and facilities. Offices can cost as little as £250 per person per month but can also exceed £1,500 per person.

However, there are many creative solutions. For example, office share spaces in London are spaces that provide businesses with the same access to premium locations, albeit at lower prices due to sharing the space with other businesses.

Startups that want access to clients and local networking events could benefit from coworking spaces in London’s Square Mile. Others may prefer to rent serviced office space on a short-term basis.

Virtual offices, hot desks, and shared workspaces are all great ways to keep costs to a minimum. And, when you need to impress clients, you can book meeting rooms by the hour or opt for customised private offices.

Office spaces in the City of London

The Square Mile is home to all sorts of offices and workspaces. Let’s explore some of the top office spaces the City of London has to offer.

Tower 42

Based in London’s third-tallest building, Tower 42 boasts fantastic views of the city. The building is already home to thriving businesses across the legal and financial industries. This makes it perfect for networking and growing your business.

You can choose from private offices, meeting rooms, and several comfortable breakout spaces for maximum productivity. The on-site restaurant is also a great place to relax and re-set at lunch.

The gym and fitness room add a level of convenience that busy employees appreciate.

Highlights include:

● On-site restaurant
● On-site sandwich/coffee bar
● Secure underground parking
● Gym and fitness room
● On-site showers
● Disabled facilities

Information about Tower 42

● Location: 25 Old Broad Street, London, EC2N 1HN
● Starting cost: Private offices from £439 per person per month
● Opening hours: 24-hour access for Private Office and Dedicated Desk members
● Membership access is available during reception hours
● Nearby stations: Bank Tube Station (a five-minute walk away), Moorgate Train and Tube Station (a nine-minute walk away), Liverpool Street Train Station (a 10-minute walk away)

The Gherkin

When it comes to office space in Central London, there’s nowhere with more prestige than The Gherkin. This world-famous landmark is home to The Bank of England, The Stock Exchange, and Sky News to name a few.

This office has it all. Modern decor, decadent break-out areas, and breathtaking views of London. It even has an on-site restaurant.

Those looking for office space on Fenchurch Street will find that this location is incredibly close, situated nearby Fenchurch Street Station as well as a wealth of exceptional venues. This makes it perfect for impressing prospective clients.

Highlights include:

● On-site restaurant
● On-site sandwich/coffee bar
● Sandwich service
● On-site showers
● Disabled facilities

Information about The Gherkin

● Location: 30 St Mary's Axe, London, EC3A 8BF
● Starting cost: Private offices from £555 per person per month
● Opening hours: 24-hour access for Private Office and Dedicated Desk members
● Membership access is available during reception hours
● Nearby stations: Liverpool Street Train Station (a six-minute walk away), Fenchurch Street Station (a six-minute walk away), Liverpool Street Tube Station (a five-minute walk away), Aldgate Tube Station (a six-minute walk away)

St Mary’s Axe

Modern, stylish, and well-located, St Mary’s Axe offers an office on Commercial Street  with everything a business could need.

The floor-to-ceiling windows offer plenty of natural light. The nearby bars, shops, and restaurants are also great for promoting work-life balance.

The office has several flexible workspaces. Employees can focus in quiet corners or collaborate and brainstorm in comfortable breakout areas.

With bicycle storage and showers on site, health and climate-conscious employees can enjoy an active commute.

Highlights include:

● Bicycle storage
● On-site showers
● Business lounge
● Disabled facilities

Information about St Mary’s Axe

● Location: 63 St Mary Axe, London, EC3A 8AA
● Starting cost: Private offices from £469 per person per month
● Opening hours: 24-hour access for Private Office and Dedicated Desk members
● Membership access is available during reception hours
●Nearby stations: Liverpool Street Train Station (a four-minute walk away), Liverpool Street Tube Station (a three-minute walk away), Aldgate Tube Station (a five-minute walk away)

Fleet Street

Fleet Street is the historical home of publishing powerhouses. Today it’s also brimming with businesses from the legal, finance, and creative industries.

Our Fleet Street office overlooks one of the city’s most iconic landmarks, St Paul’s Cathedral. It’s a great option for those who want a prime location at a lower price point.

This office has several light-filled break-out areas to inspire collaboration. It also allows easy access to London’s West End for entertaining and impressing new clients.

Highlights include:

● Disabled facilities
● Flexible meeting rooms
● Break-out areas

Information about Fleet Street

● Location: 107-111 Fleet Street, London, EC4A 2AB
● Starting cost: Private offices from £269 per person per month
● Opening hours: 24-hour access for Private Office and Dedicated Desk members
● Membership access is available during reception hours
● Nearby stations: City Thameslink Train Station (a two-minute walk away), St Paul’s Tube Station (an eight-minute walk away), Blackfriars Train and Tube Station (a five-minute walk away)

Blackfriars

On the western end of The Square Mile, Blackfriars gives you the best of both worlds. It’s still within the prestigious City area but it’s also close to all the trappings of the Southbank.

This office has plenty of quiet areas for productivity and concentration. It also has meeting rooms and comfortable break-out areas for collaboration. It even has a drop-in business lounge and Sherlock Holmes-inspired meeting rooms.

Highlights include:

● Secure underground parking
● Bicycle storage
● On-site showers
● Sandwich service
● Business lounge

Information about Blackfriars

● Location: 2 Tallis Street, London, EC4Y 0AB
● Starting cost: Private offices from £315 per person per month
● Opening hours: 24-hour access for Private Office and Dedicated Desk members
● Membership access is available during reception hours
● Nearby stations: Blackfriars Train and Tube Station (a five-minute walk away), City Thameslink Train Station (a six-minute walk away), Temple Tube Station (a seven-minute walk away)

Cannon St Station

This office space at Cannon Street Station offers views of both London Eye and St Paul’s Cathedral. It’s a fantastic space to meet with new clients.

The sleek and modern interior offers plenty of flexible working options. It has several quiet and cosy corners for concentrating. It also has coffee-shop-style break-out areas that are perfect for brainstorming.

Whatever you need, you can adapt this flexible office space in Cannon Street to suit you.

Highlights include:

● Meeting rooms
● Break-out spaces
● One-minute walk to the tube station

Information about Cannon Street Station

● Location: 60 Cannon Street, London, EC4N 6NP
● Starting cost: Private offices from £285 per person per month
● Opening hours: 24-hour access for Private Office and Dedicated Desk members
● Membership access is available during reception hours
●Nearby stations: Cannon Street Train and Tube Station (a two-minute walk away), Mansion House Tube Station (a one-minute walk away), Bank Tube and DLR Station (a four-minute walk away)

Find your ideal office space in the City of London with Regus

London’s Square Mile is brimming with opportunities to expand your business.

Whether it’s a temporary or permanent commercial property, having a base in this area can elevate your company profile. There are ample networking opportunities, plenty of elements attracting top talent, and the chance to work closely with industry titans.

To find the right location for your business, browse our City of London office locations. Or, for tailored support and advice, talk to one of our friendly experts today.