Peterborough has been named the 3rd cheapest city in the UK for office space, behind Stoke-on-Trent and Bedford according to a report by Colliers on office rental prices throughout the UK.
The report looked at the cost of leasing office space of 10,000 square foot on a 10-year rental agreement in all major UK cities. On average, the cost per square foot in Peterborough was £11.75. In comparison, office space in Manchester, which is most expensive city outside of London, costs an average of £29.75 per sq. ft., which is a staggering £18.00 more.
Peterborough offers accessible locations for businesses, as the city centre is situated 10 minutes from the motorway, providing an ease of access base for businesses relying on road access. Peterborough is also widely connected via train lines, offering direct transport to London, Leeds, Newcastle, Cambridge, Leicester, Birmingham and Edinburgh.
With the heavy investment in education and skills platforms, Peterborough has a highly skilled workforce, with exceptional talent, which offers you and your business room for positive performance. The diverse population within Peterborough means they have many multi-lingual residents, which are able to support international business, ideal for moving your business from overseas.
One such company that is investing in Peterborough is Success For All. Matt Ditchfield, chief executive of Success for All had this to say about the city: “Peterborough was the perfect choice for Success For All. The city’s strategic geographical position, excellent infrastructure and first-class digital connectivity will enable us to operate both nationally and internationally with ease. We’re looking forward to continuing to serve our customers across the UK while also building new local networks and bringing our innovative education service to schools in Peterborough and the South East.”
The top five cheapest cities in the UK for office space (average price per sq. ft.) –
1.Stoke-on-Trent (£10.25 per sq. ft)
Gareth Jones, Commercial Manager at Kit Out My Office, a provider of office furniture online, had this to say about the news and investing outside of London: “we have worked with a number of businesses that have relocated or started a business in Hull. There are many grants and incentives for start-ups that makes it an ideal place to locate your business.”