Office Space West London

Office Rental Costs & Considerations

With over 18,000 companies, Hounslow has the highest number of businesses in West Greater London, although the percentage of micro-businesses is below average (approximately 70 per cent of the total). On the other hand, Richmond is characterised by having one the UK's highest entrepreneurship rates, and at 93.7 per cent, 1-year survival rates are among the highest in all Greater London boroughs.

On the whole, the region benefits from a skilled and highly educated workforce, particularly in the creative and digital sectors, thanks to the presence of local higher education institutions like Wimbledon College of Art, Roehampton University, Richmond upon Thames College, and St Mary's University College. Self-employment rates hover around 20 per cent.

Another advantage of being based here is easy access to an affluent catchment population with high levels of disposable income. This may be especially beneficial to companies involved in retail and business services.

The relative affordability of commercial real estate is another important consideration. Richmond and St Margaret's are prime retail destinations and suit the needs of independent retailers and specialist shops with retail space that can be priced as low as £55 / square foot / year. Small office units are available in Richmond town, Twickenham, and Teddington, and many of these offer flexible lease terms and coworking space suitable for micro-businesses, creative, and digital start-ups.

Average costs for office space across West Greater London vary between £15 and £34 / square foot. Industrial space is available in the various logistics parks situated between Heathrow and West Drayton, on both sides of the M4.

Business in West Greater London

The presence of Heathrow airport right in the heart of West Greater London means that logistics and aviation are among the most important industry sectors in the area, where they provide more than 100,000 jobs. Business opportunities also exist in the creative industries, such as film production and distribution, advertising, photography, the performing arts, and publishing, since there are more than 4,000 companies engaged in this sector across West Greater London.

In Richmond, tourism and leisure are one of the top sources of employment, with nearly 15 per cent of all jobs, and are particularly important in areas near top tourist attractions like Hampton Court Palace, the Royal Botanic Gardens, Richmond Park, and Twickenham stadium. In addition, there is a cluster of companies offering services to business visitors (hotels, meeting rooms, and conferencing facilities in Teddington) in the vicinity of Heathrow airport.

Additionally in Richmond, there is a strong presence of real estate, recruitment, security services, legal, accounting, and market research firms. Moreover, retail is the third largest sector in West Greater London, since e-commerce giants like eBay are headquartered here. Lastly, we must highlight the importance of local science and technology businesses (consisting of new consultancies and established institutions like LGC, the National Physical Laboratory, Livingston Group, IKON Science, and Sauflon Pharmaceuticals) as well as a fast-growing cluster of companies involved in low carbon and renewable energy production.

About West Greater London

West Greater London is a densely populated area located within 20 miles of central London (Charing Cross). This sub-region comprises the boroughs of Hillingdon, Hounslow, and parts of Richmond. West Greater London is served by London underground and Overground services, and trains connect the area with suburban destinations and commuter towns in the Home Counties, Hampshire, Berkshire, and beyond. Road access is also convenient, since many town centres in West Greater London are within easy reach of the M4, whereas the M25 connects communities on the western end of the region. Other large urban centres, like Richmond and Hounslow, are only 5 miles away from the M3.

More importantly, West Greater London is considered one of the main gateways to the British capital due to its proximity to Heathrow airport, which connects London with over 185 destinations worldwide. Whether directly or indirectly, Heathrow airport supports nearly 200,000 full time jobs in West Greater London and the value of its economic activity is in excess of £6.2 billion.

The main business districts in terms of population and economic activity levels include Heathrow, Richmond, and Hounslow.

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