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Research reveals most expensive UK cities for co-working spaces

co-working research

Research has revealed that London is the most expensive city for co-working spaces in the UK.

According to the research by SpareOffice, an average monthly asking rent in London is £357 per space and person.

This, the research showed, was closely followed by Edinburgh where people were expected to pay an average of £284 a month.

Joe Vallender, SpareOffice’s chief executive commented on the findings: “It comes as no surprise that London clinches the first place given that property values in the capital are higher than anywhere else, but we are slightly surprised that the Scottish capital claims the second spot which can be attributed to its relatively high end offering of co-working spaces and a limited supply.”

Vallendar noted that it was difficult to predict exactly how prices would vary going forward as new co-working spaces were opening due to increasing demand from the UK’s tech startup sector but noted that it was likely that they would continue to rise.

“We believe that prices will continue to rise as more and more companies embrace the flexible arrangements and collaborative environment offered by the co-working space providers. Indeed, we have seen an increase in investment by institutional investors, which see co-working spaces as an interesting investment opportunity given the relatively low yields offered elsewhere in the commercial real estate sector,” he added.

London and Edinburgh were followed by Bristol (£265),  Oxford (£262), Southampton (£255), Birmingham (£246), Manchester (£230), Newcastle (£218), Glasgow (£210) and Sheffield (£205).