Prime London office rents
Navigating London’s office market in late 2025 demands more than just headline figures – it needs context, clarity and a strategic approach. With prime rents reaching new highs and submarket dynamics shifting rapidly, occupiers must balance aspirations for quality and ESG compliance with cost and flexibility.
The following breaks down the latest data on rents and rates across London’s key office submarkets, giving insights into each area’s submarket. For any specific requirements, to see how submarket rents might shift as you relocate or for any advice, please give our team a call!
Scroll/click below for:
– The official SHB Q3 Rent & Rates Guide
– West End office market
– City Core office market
– Southbank office market
– Docklands office market
– Midtown office market
– South West London office market
Q3 London office rents & rates
We’ve gathered up the headline rents across submarkets and available stock on the market. See how each prime London office market values their Grade A Fitted, Grade B, Managed Offices and Desk Rates.
Overall, prime rents have grown as expected. Headline rents have softened slightly at the lower end, reflecting an increase in available stock from speculative completions. Areas with higher vacancy may have opportunities and discussion to be had to find best terms – speak to us if we can help!
Deep dive on submarket rents
West End Core | Mayfair & St James’s
The West End Core remains London’s most expensive office location. In Q3 2025, Grade A fitted rents reached £110–£250 per sq ft, with best-in-class space in Mayfair and St James’s consistently achieving (and sometimes exceeding) the £200 per sq ft mark. This is a notable increase from Q2’s top-end of £260 and Q1’s £200, reflecting persistent demand and limited supply.
↑ Strong upward pressure persists, with prime rents setting new records. The market continues to be driven by demand from professional services, private equity, and international occupiers seeking prestige and location.
Supply constraints are reinforcing rental growth, with fringe West End locations still offering relative value for more cost-conscious occupiers. While the rate of growth has moderated slightly from Q2’s sharp jump, the West End’s resilience highlights its status as the go-to destination for premium office space. The West End continues to command premium rents, especially in Mayfair and St James’s. Supply remains tight, supporting record rents in best-in-class buildings.
Take-up: ≈0.83m sq ft (32% share)
Vacancy Rate: 7.4% (headline), 5.4% for new/refurbished
City Core | City of London, Clerkenwell, Farringdon
The City Core saw Grade A fitted rents in Q3 at £80–£130 per sq ft – up from Q2’s £80–£120 and Q1’s £65–£115. Average rents for high-quality space are now firmly in the £100+ range, representing a year-on-year increase of over 8%.
→ Rents are holding at elevated levels, underpinned by sustained demand from financial, legal, and insurance occupiers. The “flight to quality” continues to support headline growth, with occupiers willing to pay for new, ESG-compliant space. The City remains the most active submarket, with demand focused on Grade A and ESG-compliant space. Rental growth is outpacing other areas, reflecting occupier willingness to pay for quality and location. absorption.
Take-up: ≈1.04m sq ft (40% of Central London total)
Vacancy Rate: 9.4% (headline), but only 4.9–5.5% for new/refurbished stock
Southbank | Waterloo, Southwark, London Bridge
Southbank remains a magnet for media, tech, and creative occupiers. Grade A fitted rents in Q3 are £60–£100 per sq ft (Q2: £75–£95; Q1: £85–£95), with managed space at £150 and serviced offices at £650/desk.
↑ Headline rents have softened slightly at the lower end, reflecting an increase in available stock from speculative completions. However, best-in-class space is still achieving strong results, and demand remains steady. The area’s popularity with creative and tech tenants continues, but landlords are watching supply levels closely as new schemes complete.
Vacancy Rates: 10%, while Southbank’s vacancy is higher but offset by robust pre-letting in new schemes.
East London | Shoreditch, Stratford, Dalston
East London continues to cater to startups and cost-conscious firms. Shoreditch Grade A fitted rents in Q3 are £60–£95 per sq ft (Q2: £60–£95; Q1: £65–£75), while Stratford and Dalston remain the most affordable in Central London at £45–£55 per sq ft.
→ Rents are stable, with some downward pressure on the lower end as more space comes to market. However, premium Shoreditch buildings still command top rents, with deals up to £95 per sq ft. The area remains attractive for budget-aware occupiers, with flexibility and value driving leasing decisions.
East London | Canary Wharf & Docklands
Canary Wharf and Docklands have seen a resurgence, buoyed by landmark deals and value-driven demand. Grade A fitted rents in Q3 are £50–£70 per sq ft (Q2: £50–£60; Q1: £50–£60), with managed offices at £115 and serviced at £490/desk.
↑ Headline rents have edged up at the top end, but the area remains a price-conscious alternative to the City, offering scale, amenities and flexible terms. Leasing activity is up significantly (135% YoY vs. 10-year average), with large occupiers attracted by value and connectivity. Docklands has seen a sharp resurgence, with large occupiers attracted by value, scale and amenities.
Take-up: Up 135% YoY vs. 10-year average, driven by key deals (e.g., 209k sq ft to HSBC). Vacancy Rate: 12.8%, 7.3% for new/refurbished.
Midtown | Holborn, Bloomsbury, King’s Cross
Midtown continues to benefit from its central position. Grade A fitted rents in Q3 are £65–£130 per sq ft (Q2: £65–£130; Q1: £65–£120), with King’s Cross and Covent Garden at the higher end. Managed office rates are £135–£180 per sq ft, serviced at £675–£1,000/desk.
↑ Rents are on a steady upward drift, particularly in King’s Cross, where placemaking and connectivity are drawing strong demand. The area’s blend of accessibility and new development keeps it competitive, with landlords able to command premiums for refurbished space.
Vacancy Rates: ~5.9% (borough level),
Midtown maintains strong connectivity and demand
South West London | Vauxhall, Battersea, Hammersmith
South West London remains the most cost-effective core alternative. Grade A fitted rents in Q3 are £65–£85 per sq ft (Q2: £70–£90; Q1: £65–£85), managed offices at £90, serviced at £550/desk.
→ Rents are stable, with modest growth at the upper end. The area continues to attract companies seeking new buildings at lower costs than the City or West End, without sacrificing quality or connectivity. Demand is more value-led, with occupiers prioritising flexibility and affordability.
Whew! That’s a lot. If we can help answer any questions, run your custom analysis and help with your office strategy to renew, renegotiate, relocate or consolidate – we’re here for you.
