According to a recent report, in 2018 there were more than 1,000 venues offering flexible office space in London. Most of them are located in the West End and in The City, but three North London boroughs have the fastest-growing rates of shared and flexible space: Camden, Islington, and Hackney. In these areas, demand and enquiry volume have spiked in a matter of months, and there are approximately 95 centres offering flexible office solutions across the whole North London area, plus a further 87 if North West London is included.
It’s no secret that London has some of the world’s highest levels of startup activity, which means it is ideally placed to be a hub for innovative office solutions too. The North London economy is mostly supported by micro-businesses, which account for more than 90 per cent of the total and are among the most likely to use shared workspaces.
Coworking Hubs in North London
Coworking in North London is an attractive option given that the area offers some of the lowest rates for flexible solutions in the British capital. Average workstation costs range between £400 and £600 / month.
There are several hubs in emerging North London boroughs, like Enfield and Haringey. Some examples include BusWorks, which offers a combination of shared, workshop and private office space to tech businesses in Holloway; the studio offices and coworking space at Chocolate Factory, in Wood Green; and government-backed initiatives like 639 Centre, in Tottenham, which provides affordable desk space in an effort to boost the growth of local tech and arts startups.
Also in North London is King’s Cross, known for being one of the city’s top tech hubs and a coworking hotspots, especially since Google moved to the area. Occupiers here are not only tech companies, but also media, publishing, and medical science firms. Some of the largest coworking hubs in this area are Impact Hub, Regus, WorkHubs, ARK Coworking, and Small Works.
There is another coworking cluster in Camden, where further growth is expected as multiple buildings are being acquired to be turned into collaborative office space. The flexible space provision in Camden is attractive enough to draw large corporates to the area, as is the case of KPGM, which moved from traditional offices in Canary Wharf to Camden Market.
Also worth mentioning is the coworking scene in Hackney, which is paving the way forward with innovative flexible space solutions like Containerville or Hackney Downs Studios. Lastly, North London entrepreneurs may want to consider the Park Royal area, home to one of the largest business parks in London. The surrounding area has a fair share of flexible accommodation options too, such as those managed by Spaces, Regus, or Spacing.
Hybrid office space is growing quickly as an alternative form of office accommodation. This model combines open-plan or shared workspaces with private office units and dedicated meeting space. Although hybrid accommodation is currently presented as a niche space to companies that require large office plates due to production requirements (e.g. software development or 3D printing), demand has been growing since 2017 and supply has doubled in only 12 months, suggesting this is another attractive option for local startups.