When it comes to starting a new business or buying an existing one, it’s useful to find out where the prime locations are.
However, it’s also worth noting that the specific business sector may impact the national hotspots. For example, Salford and Manchester are currently thriving on the creative and media industry map, since the BBC and ITV moved a significant number of offices and studios to Media City. As a business investor, research should be conducted in both location and industry to determine favourable places to buy.
It’s easy to presume that London, the capital, is the best place to invest in business. While it is still favourable with tech companies and start-ups, it’s not always the best location to buy a business or commercial property. With high office and retail rents, and the prospect of paying higher wages to staff, it could be a better business decision to look outside of London and the surrounding areas.
Take a look at some of the business hotspots across the UK, and filter our search by location to see what’s currently for sale.
According to research from Informi, Ipswich is the best place for SMEs. It measured a number of factors essential for business success, including property prices, digital connectivity, pollution levels and start-up figures.
Manchester and Leeds
As the Northern Powerhouse continues to gain momentum, the North West is becoming one of the best places in the UK to buy a business or put down roots as a start-up. With access to a huge workforce in Lancashire and Yorkshire, these locations are proving popular as tech and financial hubs, as well as creative outlets.
Scotland’s Mother city has established a vibrant start-up culture over the past few years. Not only does Edinburgh boast three world-class universities (which provide an endless pool of talent for hire) but The Guardian reported that office rates are about half of the City of London’s. There’s lots of local support available for entrepreneurs, and as one of the UK’s most visited destinations there are also lots of opportunities for tourist related businesses.
Where you base your business is just as important as what it does. Whether you’re looking to invest in a commercial property to start or grow a company, or would rather invest in an established shop or services company, Hilton Smythe business brokers can help you find your dream business. Get in touch with our team today.