Why Companies are Moving to Serviced Office Space in Kings Cross
In December 2017 Knight Frank published their inaugural map of the cost of serviced office spaces in London by location. Their research shows there are big differences between the highest and lowest submarkets, up to £1000 per desk. West End Core can cost anywhere between £900-£1500, however, desks in Northern or Eastern Fringes of London have an entry level price of £450.
Whilst being on the fringe of central London may get you cheaper rentals, will that service office rental be as attractive for your staff location-wise?
The Northern Fringe of London aka ‘The Knowledge Quarter’
Euston and Kings Cross have seen significant investment in the last 10 years with the development of Regents Place and Kings Cross Central. The area along Euston Road has been labelled The Knowledge Quarter, due to the concentration of Academia, Science and Tech Businesses based in the area. Tech giants such as Google are situated alongside traditional academic institutions such as The Francis Crick Institute and The British Library. As a result, The Knowledge Quarter is well-stocked with co-working spaces
The Accessibility of The Northern Fringe
The refurbishment of Kings Cross and St Pancras stations led to wider transport improvements in the area. The introduction of High Speed 1 (HS1), Eurostar and Thameslink and upgrades to the Victoria Line have enhanced the range, frequency and speed of connections. Not only will your staff easily get from their home to their serviced office, but the proximity of the Eurostar means they could be in Lille in 1.5 hours or Paris in 2 hours and 15 minutes too!
Local Amenities in the Northern Fringe
There are a plethora of supermarkets, gift shops for last minute birthday or wedding presents, several gyms if your staff are into fitness, and plenty of bars and restaurants nearby for after work Team Building! Not only is St Pancras station a beautiful building, but due to its links to Paris, it also offers shoppers a distinctly French feel with cafes such as Le Pain Quotidien located there.
Negotiating Serviced Office Space in The Northern Fringe
Rents in The Knowledge Quarter used to be 20% cheaper than City Core but the area is now comparable if not more expensive than many City Core locations. However, if you are interested in moving your offices to attract talent from further afield, or to shorten your business trips, The Knowledge Quarter is the perfect location. Office Experts can negotiate preferable rates with our extensive contacts in the locality within your budget.
At Office Experts, we work to understand you, and your business identity, in order to find the perfect serviced office in the Knowledge Quarter for your specific needs.
Our experience and expertise have enabled us to develop contacts within London's vast property networks. We can locate, and give you access to exclusive areas in London, as well as 1400 other serviced office spaces around the UK. As key players in the industry, we can negotiate preferable rates to suit any budget.
(UK Residential Fringe Report)