With over 888,000 Londoners now self-employed, up 29% from 686,000 in 2010, and the highest concentration of self-employment in the UK, co-working centres in the city are in high demand.
The capital has seen more workers turn to self-employment, with a 46.5% increase in the age group over 50, which makes up 72% of all self-employed people in London. Launching their own start-ups and taking their work out of “the office” as part of a flexible home-working arrangement with employers, more and more small businesses are searching for co-working centres which allow them to get out of the house and let them connect, network and interact in a productive, shared environment.
London ranks last as a co-working city
Our latest round of research recently revealed that London is number 16 on the major co-working spaces rankings thanks to sky-high workspace rates and low number of workspace options proportional to the population size.
London may have the largest number of co-working centres (183) in the UK by a huge margin, but when it comes to servicing the needs of its equally high start-up population (2144 per 100k), the city provides a proportionally less-available service.
Startups love London
Despite the price disadvantage, for a huge number of entrepreneurs and freelancers, London is still a popular option; with the highest number of start-ups per 100,000 people outside of Northampton and the highest number of start-ups overall.
Southbank is London’s best co-working area
So, with high demand and prices, where are the top-ranked co-working centres to be found in London? We’ve crunched the numbers, built an algorithm and created a smart co-working map of London so you can find your perfect, productive spot. Here are the locations ranked from most to least cost effective:
|Rank||Locations||Number of Centres||Average Workstation Rate (£)|
Price & Choice
Price was our most important factor when ranking London’s co-working locales. In London South Bank offers the most cost effective desk lease at £530.00/month. At £446.00, “Other” (locations not included in South Bank, City/Docklands, Mid Town, or West End) locations in the city can be found more cheaply, but with just three co-working centres per 100k population, they are harder to come across.
Why the West End is in 5th place
West End was the steepest average co-working cost in London at £717.00 and just 25 co-working centres per 100,000 population available, the West End was the city’s lowest-ranked area for start-ups and the self-employed searching for a workspace.
For more complete information and the full stats, take a look at the interactive map.