London co-working desk rates drop amid supply overhang

The number of flexible workspaces in the UK has increased over the past 12 months, leading to a decline in desk rates in the capital.

The number of workspaces in the UK – including serviced offices and co-working developments – stands at 5,972, according to a report from the Instant Group.

This figure includes 1,423 in London alone.

It also marks a 12% year-on-year increase in the UK, up from 5,320 in 2018, and a 17% increase in London supply.

The growing supply has contributed to a drop in desk rates, with London’s average achievable