Establishing a business entails significant costs, making it crucial to identify areas where savings can be achieved. With businesses contemplating a return to the office post-lockdown, choosing the right location for your office can have a substantial impact on your budget.
To assist in this decision-making process, FreeOfficeFinder conducted research to uncover the most cost-effective regions in the UK for office space. Live data and detailed information can be found here: https://www.freeofficefinder.com/pricing-tool
Surprisingly, Newcastle emerges as the leader, offering the most budget-friendly office options in the UK. The statistics reveal that an average private office in Newcastle costs just £186 per month, with co-working spaces priced at a mere £98.
Cardiff, the capital of Wales, follows closely, with private offices averaging £210 per month and co-working spaces at £162.
Liverpool ranks as the fourth most economical choice, with private offices costing £237 per month and shared spaces at £153.
In the fifth spot is Slough, where private offices are priced at £239 per month, and co-working spaces at £220.
Basingstoke follows, with private office space costing £245 per month and coworking environments priced at £202.
Aberdeen claims the seventh position, with private offices at £258 per month and shared office spaces at £238.
Milton Keynes secures the eighth spot, offering private offices at £262 per month and shared spaces at £184. This location is particularly attractive for businesses near London, as it’s just a one hour and 35-minute commute to the capital, resulting in substantial savings compared to setting up in London itself.
London, despite being the hub of business activity, tops the list as the most expensive area for office rent. The average monthly cost for a private office is £505, while a shared space comes in at £295.
Cambridge takes the second spot on the list of expensive locations, with private offices averaging £456 per month, and communal spaces at £266.
Nick Riesel, Managing Director of FreeOfficeFinder.com, commented on the findings, saying,