Evening Standard - 23 June 2003
Relocation Feature
Working towards a better quality of life by David Spittles
More and more Londoners are leaving the capital in pursuit of a better quality of life in the regions. It is not just equity-rich homeowners who are upping sticks. Country estate agents and development agencies confirm a surge in business relocations, particularly among small firms. Broadband technology enables companies to function efficiently outside the capital. Costs are lower, the environment is healthier and there is no stressful commuting.
Purchasing "lifestyle businesses" is another trend, with individuals snapping up small country hotels, B&Bs, village pubs, post offices and convenience stores. "The entry costs are quite low and businesses such as newsagents and grocery stores require little expertise to run," according to Christie & Co, commercial property agents. The most sought-after enterprises are those in chocolate-box villages and scenic areas with a tourist trade. Cornwall, East Anglia and the Lake District are favoured locations because property values are relatively cheap.
BusinessesForSale.com has a database of some 10,000 businesses, ranging from hi-tech manufacturing companies valued at more than £5 million, to small hotels, cafes and shops priced at less than £100,000.
A study by Barclays says the South West is the most entrepreneurial region in the country, Bournemouth has become a hotbed of enterprise outside London, producing 51 new businesses per 10,000 people during the first three months of 2003. Isle of Wight, Monmouthshire and Devon are also in the top 20.
Inward investment and government subsidies help stimulate business growth. Cornwall has been on the receiving end of generous EU funding and is prospering because of booming tourist attractions such as the Eden Project. The county is also discovering its waterfront, with regeneration projects in places such as Falmouth creating business opportunities.
"If you have a project that brings sustainable jobs to the area, you can apply for assistance grants," says Caroline Bull, director of enterprise and innovation at the South West Regional Development Agency.
Improved transport links are boosting business, too. Ryanair now flies between London and Exeter; a fast and convenient link for executives who need to attend meetings in the capital, and also for clients visiting the West Country.
Bull says £12.5 million has been ploughed into a public-private partnership called Actnow, which aims to encourage business growth by giving subsidised broadband access and advice to 3,300 small and medium-sized firms – mainly design agencies, animators and web developers. This is triggering the formation of creative clusters, where like-minded businesses can feed off each other.
Bristol Interactive Cluster has helped consolidate that city’s claim for having the highest concentration of film and TV production companies outside London. Wessex Media Group, a cluster of 90 companies, is led by Malcolm Brinkworth who moved his documentary-making business to Shaftesbury five years ago after a decade in Soho.
Creative Edge, a design agency in Truro, received at least two enquiries every week from designers looking to leave London.
FPDSavills’ Oxford office says demand for country office space has coincided with the increased availability of barns and other redundant agricultural buildings brought on by the crisis in farming. Converted barns offer the rural equivalent of Clerkenwell-style loft offices. Indeed, top-quality premises in the countryside can command rents equivalent to inner London.
Aristocratic estates are also being broken up to provide attractive office accommodation. Oxfordshire landowners Lord Rotherwick and Lord Camoys are creating commercial space at their estates. At Combury Park, Charlbury, in the Cotswold countryside, about 26,000 sq. ft. of office accommodation has been released. One of the buildings is a 17th-century listed stable block with a double height reception area and galleried landings. It is approached via a tree-lined drive and is within a deer park. The building itself has all the grandeur of a West End headquarters.
At Manor Farm, also on the estate, four barns have been converted into offices ranging from 750 sq. ft. to 2,700 sq. ft. The local train station has a 75-minute service to Paddington.
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