Deciding where to locate your business is important – but equally, the growth of technology and the continuing trend of London businesses migrating their operations to other cities means that where companies choose to locate is no longer a barrier to success. This has been happening increasingly over the last few years, as companies and government look to so-called “north-shoring”, the term for investing outside of London.

Leeds has enjoyed a number of big wins, notably Channel 4, which brought 300 jobs to the city after deciding to remove some of its key news operations from the capital.  Tech and creative companies that have opened offices in Leeds include software consultancy Scott Logic  and iwoca, which became the first major European fintech company to set up in the city when it opened offices in 2020.

More businesses are attracted to Leeds because of its strong talent pool and thriving tech, banking and creative sectors, which is why the city was named the number one in the Tech Town index in 2020.

The government also announced that the National Infrastructure Commission (NIC) is opening a new office in Leeds, due to open in 2023, joining the UK Infrastructure Bank, which was also moved to the city.

Office costs

The two biggest business overheads are property and people, so it is perhaps little surprise that regional cities are enjoying a significant boost, with companies relocating. Companies can still hire exceptional talent and rent office space at far less than the square footage of London and the south east.

In London, space in the West End was an average £117.50 a square foot at the end of Q4 2021, while the cost for Grade A office space in the city in 2022 is £70 – £82.50. Compare that to Leeds, where the latest Q2 2022 report from Colliers says top rents for Grade A offices in the city centre are likely to reach £36 per square foot by the end of the year.

North-shoring

There are a wide range of benefits to any business relocating to Leeds – or the north in general – or at least opening regional hubs away from the capital.

Relocate to Leeds and these include:

• Cheaper office space per square foot
• Lower cost of living, housing and accommodation
• Opportunities to attract local talent – from school and college leavers, to graduates.
• Better work/life balance for employees
• Being located in a thriving city – believed to the UK’s fastest growing, with an economy that is predicted to grow by an impressive 21% over the next decade.

12 King Street

Located just a few minutes from Leeds city centre railway station, 12 King Street has a BREEAM Excellent rating – placing it in the top 10% of new, non-domestic buildings for best practice – and an EPC of A.

It has also achieved Platinum – the highest rating – from WiredScore, equipping businesses with enhanced digital capability, a reliable broadband service and widespread mobile coverage in the office.

With expansive natural light from large windows, smart fresh air management systems, superloos and panoramic city views from our state-of-the-art Sky Lounge and rooftop terrace, 12 King Street is a healthy building that prioritises wellbeing and encourages productivity.

To find out how your business could thrive at 12 King Street, contact us for more information or arrange a viewing.