To compare London office areas, set the all in cost per square foot beside travel times. Then look at building stock and the businesses around you. On the Morgan Pryce Partners Limited area pages, read 13 Nov 2026, all in estimates start from £70.50 in the City of London, from £90.00 in Soho and from £115.00 in Mayfair.
What should you compare besides the headline rent?
Headline rent is only the start. The figure on a listing rarely matches what a business pays each year once business rates and running costs are added. That's why the Morgan Pryce Partners Limited area pages publish an all in estimate next to the rent range.
Business rates deserve a separate line in your comparison. They're charged on a rateable value assessed by the Valuation Office Agency, and GOV.UK sets out how bills are worked out in its introduction to business rates. Check them early.
After cost, look at what the buildings are actually like. Some areas lean towards period conversions with smaller floor plates. Others offer large modern towers with open floors and newer services. Neither is better in the abstract. It depends on your headcount and your clients. How you work matters too.
Format matters as much as postcode. A traditional leasehold can sit on the same street as a serviced office. A managed office can sit there too, yet the commitment is different. We'll compare those formats side by side through our tenant advisory and flexible office service, so you're weighing like with like.
Lease terms come next. The Code for Leasing Business Premises, published by RICS, is a useful reference before you agree heads of terms.
How do the live figures sit today?
The ranges below come from our area pages, read 13 Nov 2026. They're published figures that give a starting point. They're not a formal valuation of any building.
Mayfair. The Mayfair office page gives rents from £67.50 to £200.00 per square foot. Business rates run from £35.00 to £55.00 per square foot. The all in estimate is from £115.00 to £270.00 per square foot. Stock ranges from refurbished period buildings to Grade A developments. Suites start from around 400 sq ft.
Soho. Our page on Soho offices shows rents from around £57.50 to £125.00 per square foot. Business rates are generally from £25.00 to £36.00 per square foot. The all in cost sits between £90.00 and £175.00 per square foot.
The City of London. The City and Square Mile page lists rents from around £45.00 to £110.00 per square foot. Business rates are typically from £16.00 to £21.00 per square foot. The all in cost is usually between £70.50 and £150.00 per square foot. Buildings range from towers such as the Gherkin to smaller modern blocks.
The spread is wide. At the extremes, the top Mayfair all in figure is almost 4 times the lowest City figure. Most searches land in the middle. That's where the building detail decides it. For the wider cost picture across the capital, see our guide to London office costs in 2026.
How do transport and neighbours change the brief?
Transport can overturn a cost comparison. A cheaper floor that adds 20 minutes to most of your team's commute isn't really cheaper.
The Mayfair page lists 5 stations, including Bond Street. Green Park is on the list too. Those stations serve several Underground lines as well as the Elizabeth line. Soho is served by Oxford Circus and Tottenham Court Road, among others. Its page notes Elizabeth line links to Heathrow Airport.
The City has the densest network of the 3. Its page names 7 stations across 7 Underground lines, including Liverpool Street and Moorgate, which also have the Elizabeth line.
Neighbours shape the brief in a different way. Soho draws media and film businesses, as well as technology companies. The City is home to financial services and insurance, with law firms close by. Mayfair's page points to Savile Row and Berkeley Square.
A practical test helps here. Map where your current staff live, then check travel times to 2 or 3 candidate stations in each area. It's a simple test. It often narrows the choice quickly.
Key takeaways
- Compare the all in cost per square foot, not the headline rent.
- Treat business rates as their own line, using GOV.UK and the VOA as sources.
- On our area pages read 13 Nov 2026, all in estimates start from £70.50 in the City, from £90.00 in Soho and from £115.00 in Mayfair.
- Weigh travel times for your actual team.
- Choose neighbours that suit your clients and sector.
- Decide the format first, whether leasehold, serviced or managed.
Who this is not for
This guide suits a business that's still choosing where to look. It won't help much if you already have a building shortlist. In that case, the priority is negotiating rent and lease terms on the units you've found, and our lease advisory and disposal team is the better starting point.
Nor is it written for buyers. If you need to purchase or sell a commercial property rather than rent one, due diligence and legal completion take over. Our purchase and advisory service covers that work.
Finally, it only covers 3 areas. That's a limit. If your shortlist sits elsewhere, apply the same tests but don't rely on these ranges.
Start with 3 numbers for each area. Use the all in cost per square foot, a typical travel time for your team, and the size of space you need. Then add a short note on the businesses nearby. That gives you a 1 page comparison you can share internally. It's rough, but it removes areas that clearly don't fit before you spend time on viewings.
No. They are published ranges from our area pages, read 13 Nov 2026. They show where the market sits rather than the price of any specific floor. A particular building may fall outside those ranges. Use them to set a budget, then test them against real listings.
Yes, because they vary a great deal between areas. On our pages read 13 Nov 2026, rates run from £16.00 per square foot in the City to £55.00 in Mayfair. Bills depend on rateable value, which the Valuation Office Agency assesses. GOV.UK explains the rules and any reliefs that may apply.
We can. We'll search on market and off market offices. We'll arrange viewings. Then we'll negotiate rent and lease terms, and support you through to occupation. For a relocation we'll also help plan your space requirements. Call 020 3987 6200 or email info@morganpryce.co.uk.
