The professional services sector is on the rise in Tees Valley, with companies increasingly looking for their service centres to be based in the UK.
Research has shown that the key features a company looks for when identifying a location are:
- Cost, quality and availability of premises
- Workforce availability
- Local infrastructure and transport
A low-cost location is essential and Tees Valley is one of the most cost-effective places to invest. It is also home to a highly skilled workforce, purpose-built offices and effective public transport.
COST-EFFECTIVE, QUALITY PREMISES
Rents and rates in Tees Valley are some of the lowest in the UK, with average office costs significantly lower than the rest of the country. For example, over a three year period, taking on a 10,000sq ft office here would save £420,000 compared with a similar building in Guildford, £510,000 over Edinburgh and £525,000 over Manchester*. The offices are purpose-built, modern facilities that are conveniently located, many within our Enterprise Zones that come with added benefits and financial incentives.
* Source: BNP Paribus Real Estate. UK total office occupancy costs, January 2014
The Tees Valley workforce is known for its quality, availability, retention, suitability and flexibility. It also has highly competitive wage rates, at 92% of the national average.
INFRASTRUCTURE AND TRANSPORT
Tees Valley offers convenient premises available in town centres and industrial parks. There are many public transport options available to service offices, as well as easy road access. Tees Valley is also well connected to the rest of the country and beyond, with an excellent rail network and three international airports within one hour’s drive.