We think business parks are great.
They've become increasingly popular in recent years, with both businesses and councils seeing them as a favourable option over the traditional city-centre office, but why?
They are cheaper
Being away from the city centre, just as in the residential market, means that prices are far more favourable.
Many businesses choose to move their operations away from some of the larger settlements because rental rates are lower, allowing budget to be allocated elsewhere - a huge factor for smaller businesses.
They are easier to maintain
Maintenance costs and logistics are cheaper and easier in a business park. Cleaning, repairs and general upkeep can all be handled by one company on one contract.
Often, utilities like broadband access and even on-site catering will be shared across multiple companies.
They can increase your customer base
Business parks are often filled by companies that operate in a similar sector. As a collective, you can also mutually benefit from shared marketing spend – directing potential customers to one area. This remains the case even if you’re not working in conjunction with your competitors.
They can take your business to the next level of innovation
Collaboration is the lifeblood of innovation, and strategic partnerships can be made if you’re in close proximity to like minded companies and individuals.
Councils love them
Local authorities will often give the green light to business parks because they allow them to permit development in areas that would previously not have been popular, driving more commerce to the city in question. This means lower rates and incentives for business owners.
For example, if you relocate to an Enterprise Zone, you can benefit from business rate relief and enhanced capital allowances.