FlexiOffices recently produced a study on the average monthly price per desk for offices located near tube stations in London (Zone 1). In light of this study we decided to shine the spotlight on specific London boroughs - here we take a look at the tube lines and stations in Southwark.
Southwark is one of the oldest areas in London, in recent years the borough has undergone extensive regeneration and transformation. The borough is home to the iconic Shard, the beautiful South Bank, the Tate Modern and the historical Globe Theatre. There are only four tube stations situated in Zone 1 in the borough of Southwark. These are London Bridge, Southwark, Borough and Elephant & Castle. The average monthly price per desk fluctuates a great deal between these specific tube stops. In this article we will provide you with information as to why this is, along with information on things to do and local amenities in the area.
There are two main tube lines that run through Southwark - the Jubilee Line and the Northern Line. Our study reveals that the Jubilee line is in fact the most expensive tube line on average, with the average price per desk reaching £793 across the whole line. The tube stations on the Jubilee line include London Bridge (£750) and Southwark (£750).
The borough is also home to the Northern line, the most affordable tube line on average for price per desk at £667. The two stops Borough (£550) and Elephant & Castle (£400) are two of the cheapest locations on average to rent an office space in London Zone 1.
The contrast in prices between the stops within the borough of Southwark are intriguing, as the area is home to the cheapest and most expensive of all lines.There is a huge difference in the average price per desk between tube stations that are geographically located within close proximity - with Southwark and London Bridge averaging £750 a month, whilst if you continue one or two more stops on the Northern line the prices drop to £550 Borough and £400 Elephant and Castle a month. This information may help inform your decision when deciding on where to move your company, however whilst monthly costs are a key factor in the decision making it is also important to factor in the local amenities available and transport links in the area.
The most affordable London tube station in Southwark
Elephant & Castle (£400) is the most affordable tube station in the borough of Southwark with the average monthly price per desk at £400. This is one of the most affordable office locations in London’s Zone 1. Elephant and Castle is within close proximity to central London and key areas of employment, such as the West End, Westminster and the City. The area is also known as a transport hub, once coined the “Piccadilly Circus of South London”, boasting extensive bus routes, national rail links and underground network - allowing for an easy commute for employees. Elephant and Castle is also known for its brightly coloured shopping centre that is home to a mixture of retail stores, restaurants and activities.
The area is up and coming as it is currently undergoing a £1.5 billion regeneration project, with the aim of creating new homes, shops, offices, parks, transport links and restaurants. The aim of this regeneration is to develop a vibrant, established neighborhood within Zone 1 of London. Elephant and Castle is home to some of London’s finest attractions including the Imperial War Museum and the Ministry of Sound. These attract lots of tourists and locals alike to the area for recreational activities. If you’re looking to rent office space in the area these attractions can entertain your employees in their free time.
Elephant and Castle is a great up and coming area, perfect for startups and larger companies who are looking for affordable serviced office space within Zone 1. With its close proximity to Waterloo, Westminster and South Bank combined with its great transport links across London, as well as with average price per desk costs at almost half of neighboring London Bridge - office space in Elephant & Castle truly is a steal.
The most expensive London tube station in Southwark
London Bridge (£750) is the most expensive tube station within the borough of Southwark. The area spans between the City of London and Bankside - it is full of interesting attractions and surprises. The area around London Bridge is constantly bustling with plenty of hotels, restaurants, offices, bars and attractions this area is immensely popular for both tourists and locals alike.
London Bridge is home to the iconic Shard, the tallest building in Western Europe and a highly desirable place to work. Across from the London Bridge station is Borough Market, a foodie’s heaven and the UK’s oldest food market - that has more than seventy stalls that sell an assortment of delicious food and drink, the perfect spot for your employees to grab a delicious lunch or snack.
In recent years London Bridge has been the object of a range of developments, these include new business spaces and housing in particular. Office spaces in this area are highly desirable due to the wealth of transport links available in the area, allowing for employees to travel into London Bridge from across London and the surrounding areas. The attractions and amenities in the area are also world class, ensuring that employees in offices in the area are never short of things to do in the London Bridge region.
Our favourite tube station in Southwark
Borough (£550) is our favourite tube station in Southwark, due to its close proximity to all of Southwark's finest attractions, restaurants and bars however with a cheaper price tag. The average price per desk in Borough is £200 cheaper than its neighbouring tube stop London Bridge at £750 per month.
Borough is just a few minutes walk from London Bridge station and Tower Bridge. The area embodies central London living at its very best, managing to retain the traditional character in many of its buildings, streets and shops. Its riverside location, beautiful architecture, tourist attractions, restaurants and cobbled streets make this area one of London’s most exciting places to work. Borough’s close proximity to London Bridge and Waterloo are extremely appealing to those working in the area as these are major transport hubs. The area is compiled of a diverse population - with creatives, City workers and residents residing here.
The area is home to some of London’s best restaurants, markets, bars and pubs making it the perfect location for employees who enjoy after work drinks or companies with lots of clients to entertain. The Royal Oak is the perfect place for a drink after work with colleagues, it's a very cosy pub with great staff, excellent beer, food and ambience. The Market Porter is another great pub, with beautiful hanging baskets surrounding the exterior, creating the perfect spot to soak up the summer sun whilst enjoying traditional ales. If you’re looking for a great place to eat the Wright Brothers Oyster & Porter House is the perfect place, offering delicious oysters, squid and crab this restaurant comes highly recommended.
Employees of companies situated near Borough tube station would be able to spend their free time exploring the cobbled streets and discovering hidden gems, as well as visiting some of London’s best attractions. With the average price per desk at a reasonable £550 a month, Borough is a great location for companies looking to save money in central London.