Launching and running a business can be a costly endeavor, making it essential to find areas where savings can be made. As the memory of lockdowns fades, many businesses are considering returning to physical office spaces, but the question is, where?
In a recent study conducted by FreeOfficeFinder, the quest to discover the most cost-effective locations for office space in the UK has yielded some intriguing findings. You can explore the live data here: https://www.freeofficefinder.com/pricing-tool
Surprisingly, Newcastle emerges as the frontrunner for the most affordable office spaces in the UK. The statistics reveal that an average private office in Newcastle costs just £186 per month, while a co-working space is an even more budget-friendly option at £98 per month.
Following closely behind is Cardiff, the capital of Wales, where a private office averages £210 per month, and a co-working space is priced at £162 per month.
Liverpool stands out as an ideal location for establishing a new business or office, ranking fourth on the list. A private office in Liverpool costs an average of £237 per month, with shared office space priced at £153 per month.
Slough is the next contender, with private office space averaging £239 per month and shared spaces at £220 per month. Basingstoke follows suit, with private office space costing £245 per month and co-working environments priced at £202 per month.
Aberdeen makes an appearance on the list, with an average cost of £258 per month for a private office and £238 per month for shared office space. Milton Keynes is also a budget-friendly option, with private office space priced at £262 per month and shared environments at £184 per month. Moreover, its proximity to London, with a commute under one hour and 35 minutes, makes it an attractive choice for businesses looking to save compared to the high rents in the capital.
In contrast, London tops the list as the most expensive area for office rent. A private office in London averages £505 per month, while a shared space costs around £295 per month.
Cambridge follows closely as the second most expensive area, with private office space costing businesses £456 per month and communal spaces priced at £266 per month.
Nick Riesel, the managing director of FreeOfficeFinder.com, commented,
