Mayfair has retained its crown as London’s most expensive area for office space, with desk rents averaging £962 per month — 80.3% above the capital’s mean of £534, according to new data.
The figures reveal that Westminster continues to dominate the upper end of the city’s commercial property market, with Victoria and St James’ joining Mayfair in the top four most expensive districts.
In second place, Soho desks cost an average of £895 per month, or 67.7% above London’s average. Though retaining its runner-up spot, Soho saw a £38 decline year-on-year, suggesting stabilising demand.
Victoria jumped two places to third, with desk space now averaging £894 per month, up £69 year-on-year, while St James’ rose from sixth to fourth after a £94 increase to £884 per desk.
Rounding out the top five, Monument slipped two places to fifth, with an average of £859 per desk, down £10 on last year but still 61% higher than the capital’s mean.
Changing dynamics across the City and West End
Bank, historically one of the most expensive business hubs, now ranks sixth at £803, while Oxford Circus recorded the largest positional fall — down to seventh, with rents dropping by £94 to £742 per desk.
Marble Arch surged four places to eighth with £728 per desk, followed closely by London Bridge, which leapt eight positions to ninth after a £55 annual increase to £725. Cannon Street completes the top ten at £703 per desk.
| Rank | London Area | Avg. Monthly Desk Price | Vs London Avg | Change from Q4 2024 |
|---|---|---|---|---|
| 1 | Mayfair | £962 | +80.3% | – |
| 2 | Soho | £895 | +67.7% | – |
| 3 | Victoria | £894 | +67.5% | ▲2 |
| 4 | St James’ | £884 | +65.7% | ▲2 |
| 5 | Monument | £859 | +61.0% | ▼2 |
| 6 | Bank | £803 | +50.5% | ▲2 |
| 7 | Oxford Circus | £742 | +39.0% | ▼3 |
| 8 | Marble Arch | £728 | +36.4% | ▲4 |
| 9 | London Bridge | £725 | +35.9% | ▲8 |
| 10 | Cannon Street | £703 | +31.7% | ▼1 |
A Free Office Finder spokesperson said Westminster’s dominance reflected businesses’ willingness to pay for prestige, connectivity and access to talent.
“Westminster is increasingly solidifying its status as the capital’s priciest area for offices. Victoria has joined Mayfair and Soho in the top three, showing the area’s ongoing desirability.
While demand continues to drive competition, companies are willing to invest in locations that impress clients and attract top talent.”
The agency also noted the growing rise of emerging office hubs, with London Bridge’s sharp climb signalling how infrastructure investment and regeneration are reshaping the capital’s business geography.
“Places like London Bridge demonstrate the potential for rising up the rankings. As London’s business landscape evolves, new districts could soon challenge Westminster’s long-held dominance.”
