London ($121/sqft, 8.6% vacancy) and Nairobi ($10/sqft, 21.4% vacancy) compete on different axes: London on talent depth and Nairobi on rent and tax.
London ($121/sqft, 8.6% vacancy) and Nairobi ($10/sqft, 21.4% vacancy) compete on different axes: London on talent depth and Nairobi on rent and tax.
| Metric | London | Nairobi |
|---|---|---|
| Region | EMEA | EMEA |
| Country | United Kingdom | Kenya |
| Class A rent (USD/sqft/yr) | $121 | $10 |
| Class A rent (local) | 95 GBP | 1300 KES |
| Vacancy | 8.6% | 21.4% |
| Trend | rising | flat |
| Prime yield | 4.5% | 9.8% |
| Premium flex / seat / month (USD) | $1,380 | $320 |
| Submarkets covered | 7 | 5 |
| Corporate tax | 25% | 30% |
| Metric | London | Nairobi |
|---|---|---|
| Typical term | 10 yrs | 5 yrs |
| Typical rent-free | 24 mos | 6 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. | Net leases. 5-6 year terms with escalation clauses. Free rent of 4-8 months and TI of KES 4,000-7,000/sqm typical. |
| 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. | 30% Kenyan corporate income tax. EPZ (Export Processing Zone) and SEZ incentives available. Significant withholding taxes on cross-border payments. |
| Metric | London | Nairobi |
|---|---|---|
| Talent index (0–100) | 96 | 72 |
| Talent note | Largest financial-services and technology talent pool in EMEA. Average all-in compensation indexes 96 vs. New York's 100. | Deep mobile money / fintech, NGO, and African operations talent. Strong English and Swahili bilingual professional base. Strong feed from University of Nairobi, Strathmore, and JKUAT. |
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.
Nairobi: BRT under construction; Standard Gauge Railway connects to Mombasa. Jomo Kenyatta International Airport (NBO) bus-served. Nairobi Expressway connects Westlands to JKIA. Heavy car dependency.
Nairobi is the cheaper Class A market on a USD basis.
London has the deeper talent index (96/100 vs 72/100).
London has the lower headline corporate tax (25% vs 30%). Local incentives can change the effective rate materially.
London typical term is 10 years with 24 months free; Nairobi runs 5 years with 6 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. Nairobi: BRT under construction; Standard Gauge Railway connects to Mombasa. Jomo Kenyatta International Airport (NBO) bus-served. Nairobi Expressway connects Westlands to JKIA. Heavy car dependency.
Score London, Nairobi 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.