North East London Office Space

Office Rental Costs & Considerations

Currently, businesses in North East Greater London can reach a large catchment area that includes both central London and Essex. The area’s economic potential is a draw card, with ongoing developments positioning it as one of Greater London’s most promising sub-regions.

In 2025, office rental costs in NE London remain competitive in comparison to Central London. Asking rates in Romford, accessible via the Elizabeth Line, are approximately £25–£30 per sq ft, significantly lower than Central London’s prime rates, which can reach £98.60 per sq ft.

Ilford is a standout location, benefiting from the Elizabeth Line, which can reach Central London’s Liverpool Street station in under 20 minutes.

The town centre has been identified as one of London's top 10 metropolitan centres, has undergone a significant redevelopment bolstering it's retail sector and establishing itself as a primary gateway to East London. Rainham also underwent a regeneration, transforming acres of riverside land into logistics and industrial space. Plans are also in place to further regenerate the town centre, proposing a wider range of shops, more markets, pop-up events, planting, and recreational spaces.

In Dagenham, growth is propelled by the low-carbon and environmental technology sectors, centred on the London Sustainable Industries Park (LSIP) at Dagenham Dock. The LSIP, bolstered by a £30 million investment, now hosts innovative businesses like TEG Biogas and Closed Loop Recycling, creating over 1,000 jobs, including 600 permanent and 400 construction roles, with plans for further eco-industrial expansion.

Barking and Dagenham is at the heart of London’s eastward growth, attracting developers and investors to the most affordable and accessible opportunities in the Southeast. With 400 hectares of development land tipped to provide 50,000 high-quality new homes and 20,000 new jobs by 2037.

The London Riverside development, part of the City in the East project, has advanced significantly, with the London Riverside Business Improvement District (BID) representing 400 businesses and supporting 4,000 jobs. The BID has enhanced Rainham’s industrial areas with improved public spaces and connectivity, including a revamped station forecourt and new cycle parking. The development of 47 acres of brownfield land was completed ahead of schedule in 2024, delivering 5,000 new homes and 3,500 jobs.

The establishment of London’s first Creative Industry Zone near Barking station and the Ice House Quarter has created 1,200 new workspaces, complementing existing commercial hubs like Orion Park in Barking (industrial and warehousing) and Dagenham Business Centre and Barking Enterprise Centre (office space).

Business in North East Greater London

The distribution, hotel, and restaurant industries employ almost 30 per cent of the total workforce in North East Greater London. Retail, entertainment, and leisure are also an important part of the local business scene, particularly in Romford, which also has a thriving night-time economy. The retail sector in Romford is among the top 10 in London, and ranks 4th in the Thames Gateway area.

Romford remains a primary hub for office space within Havering, with rental costs 20% lower than Canary Wharf, averaging £25 per square foot in 2025. The completion of Elizabeth Line has enhanced connectivity, linking Romford to Heathrow Airport in 45 minutes and central London in 15 minutes, via stations at Romford, Gidea Park, and Harold Wood. This has driven a 22% increase in office space demand since 2023, with developments like the Romford Leisure Development adding 50,000 square feet of commercial space and attracting 25 million visitors annually.

In Barking, many local businesses are involved in the visitor economy, as this district receives more than 25 million visitors every year. The knowledge-intensive sector is present, but on the whole, this industry is not as developed here as it is in the rest of Greater London, although the IT and digital sectors are expected to grow substantially within the next 10 years. Lastly, there is a large cluster of manufacturing firms in Rainham. Key employers in North East Greater London include Ford, Hapag Lloyd, Dairy Crest, and British Bakeries.

About North East Greater London

North East Central London spans the boroughs of Havering, Barking & Dagenham, and Redbridge, most of which are within 15 miles of central London. The area is bordered by the A12 to the north, the M11 and North Circular Road to the west, and the M25 to the east. On the whole, this is a prime business location and a major commercial centre that benefits from frequent and fast connections with central London and the financial district in Canary Wharf, which is only 7 miles away from Barking. The major transportation hub of Liverpool Street is 25 minutes away from most parts of North East Greater London, and travel times will be further reduced once the Crossrail project is completed. The nearest airport is London City.

Certain areas of North East Greater London (and in particular those around Barking and Dagenham) have undergone a massive transformation as a result of the Olympics. Moreover, a number of development projects have been given the green light and aim to attract higher levels of inward investment to towns and commercial areas within Redbridge and Havering.

The main business districts are Ilford, Barking, and Romford, and the most prominent up-and-coming commercial areas are located in Hornchurch and Rainham.