London ($121/sqft, 8.6% vacancy) and Miami ($78/sqft, 11.8% vacancy) compete on different axes: London on talent depth and Miami on rent and tax.
London ($121/sqft, 8.6% vacancy) and Miami ($78/sqft, 11.8% vacancy) compete on different axes: London on talent depth and Miami on rent and tax.
| Metric | London | Miami |
|---|---|---|
| Region | EMEA | Americas |
| Country | United Kingdom | United States |
| Class A rent (USD/sqft/yr) | $121 | $78 |
| Class A rent (local) | 95 GBP | 78 USD |
| Vacancy | 8.6% | 11.8% |
| Trend | rising | rising |
| Prime yield | 4.5% | 5.4% |
| Premium flex / seat / month (USD) | $1,380 | $920 |
| Submarkets covered | 7 | 5 |
| Corporate tax | 25% | 21% |
| Metric | London | Miami |
|---|---|---|
| Typical term | 10 yrs | 7 yrs |
| Typical rent-free | 24 mos | 9 mos |
| Lease norms | London leases are predominantly Full Repairing and Insuring (FRI). Tenant pays service charge and is responsible for dilapidations on lease end. Rent reviews to open-market rent every 5 years are standard. Rent-free periods of 18-30 months on a 10-year term are typical, with 'capped' rent-free for break-clause certainty. Personal guarantees are uncommon for institutional tenants; rent deposits are common for younger covenants. | Modified-gross structures dominate; 7-10 year terms are common. Free rent of 6-12 months and TI of $80-$140/sqft typical on a 10-year deal. Personal guarantees common for sub-investment-grade tenants. |
| Tax note | UK corporation tax is 25% (19% small profits rate). Business rates are a major occupancy cost — ~50% of rateable value annually, levied separately from rent and service charge. | 21% federal corporate income tax; no Florida state corporate income tax for most pass-through structures. Florida assesses a 5.5% corporate income tax on C-corps. No personal income tax. |
| Metric | London | Miami |
|---|---|---|
| Talent index (0–100) | 96 | 78 |
| Talent note | Largest financial-services and technology talent pool in EMEA. Average all-in compensation indexes 96 vs. New York's 100. | Strong bilingual (Spanish-English) finance and legal talent. Deep Latin American banking, asset management, and family-office concentrations. Tech talent is shallower than NY/SF but growing rapidly. |
London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium.
Miami: Metromover (free downtown), Metrorail to Brickell and Government Center, Brightline regional rail, MIA Mover from Miami International Airport. Brickell and Downtown are walkable; Wynwood and Coral Gables remain car-dependent.
Miami is the cheaper Class A market on a USD basis.
London has the deeper talent index (96/100 vs 78/100).
Miami has the lower headline corporate tax (21% vs 25%). Local incentives can change the effective rate materially.
London typical term is 10 years with 24 months free; Miami runs 7 years with 9 months free.
London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium. Miami: Metromover (free downtown), Metrorail to Brickell and Government Center, Brightline regional rail, MIA Mover from Miami International Airport. Brickell and Downtown are walkable; Wynwood and Coral Gables remain car-dependent.
Score London, Miami and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.