Cambridge has overtaken the rest of the UK as the most expensive market for private office space while regional cities drive record growth in coworking rents, latest data from FreeOfficeFinder reveals.
Average private office desk rents in Cambridge reached £611 per month in the fourth quarter of 2025, up 13% year on year and 119% higher than a decade ago. The surge has been fuelled by sustained demand from the city’s technology and life sciences sectors for premium central space.
Elsewhere, growth has shifted decisively towards regional markets. Milton Keynes recorded the strongest annual increases of any UK city, with private office desk rents rising 20% to £296 per month and coworking desks up 39% to £283.
Liverpool’s coworking market also accelerated, with desk prices climbing 29% over the past year to £213 per month – 37% above pre-pandemic levels and 52% higher than a decade ago.
LONDON CALLING
While London remains the most expensive coworking location at £289 per desk, prices in the capital fell 2% year on year. Private office rents in London also slipped 2% to £583, marking a rare decline as demand pivots towards smaller, higher-specification space.
FreeOfficeFinder’s data show that 65% of London enquiries in the third quarter of 2025 were for Grade-A offices, up from 35% in 2019, while 72% of enquiries were for units under 5,000 sq ft. Demand for managed and serviced offices in the capital rose 40% over the same period.
Similar patterns are emerging across the regions.
Similar patterns are emerging across the regions. Grade-A demand accounts for 60% of enquiries in Yorkshire, 58% in the North West, 57% in Scotland and 55% in Birmingham. Smaller offices under 5,000 sq ft now dominate enquiries across all major regional markets.
Over the past decade, coworking desk prices have risen fastest in smaller cities, including St Albans (+101%), Aberdeen (+76%), Reading (+75%) and Watford (+70%), reflecting hybrid working trends and decentralisation.
RECORD ANNUAL RENT INCREASE
Nick Riesel (main picture, inset), Managing Director and Founder of FreeOfficeFinder, says: “Our data shows that the UK office market is evolving rapidly. While Cambridge remains the priciest market for private offices, smaller cities such as Milton Keynes, Liverpool, and St Albans are emerging as hotspots for coworking and flexible workspace.
“This reflects the growing demand for high-spec, well-connected offices closer to where employees live, as hybrid working becomes the norm and businesses seek flexibility, cost-efficiency, and collaborative environments.
“Companies are no longer tied to historic office hubs – the market is decentralising, and regional cities are benefiting from both long-term growth and record annual rental increases.”
