How to find a business property in the UK
Finding the right property in the right location can be important to your success. There are no restrictions on overseas companies when either buying or renting property in the UK.
Company leases typically run for 10 to 15 years with reviews every 5 years, although shorter terms are becoming more common. It may be possible to negotiate “break clauses” at set times throughout the lease. These enable the occupier to serve notice to vacate premises.
When renting a business property, you need to be aware of your responsibilities as a tenant.
Serviced and leased offices
There are various property options available to businesses throughout the UK including leased offices, serviced offices, science parks and industrial properties.
They range in size from a single desk to large offices. Companies can usually move into a new serviced office within a week. Leases can be as short as one month and all costs are combined into one monthly payment.
Providers may charge additional fees for services like internet access, telephones, printers, and meeting rooms.
There are approximately 100 science parks in the UK which provide commercial property options to support the start-up and development of knowledge-based businesses. Most science parks have formal links with universities, institutes and research organisations.
Science parks, innovation centres and incubators support over 4,000 companies in the UK.
Industrial and distribution properties
There is a wide choice of industrial and distribution properties across the UK. Since 2020, most warehouse construction activity was in the larger size band of over 100,000 square feet.
Compare prices for commercial property with search engines, such as Estates Gazette.
Co-working spaces are offices with shared facilities, services, and tools. Sharing infrastructure in this way helps to spread the cost of running an office across members.
Co-workers can access fully equipped office spaces that are open 24 hours a day. They include Wi-Fi, shared printing, copying, faxing and scanning facilities as well as access to conference and board rooms at extra cost.
Buying property in the UK is a straightforward process and, importantly, there are no restrictions on overseas companies.
Stamp duty land tax (SDLT)
In addition to property price, buyers must also pay stamp duty land tax (SDLT) based on both the transaction size and property location.
In Scotland, SDLT does not apply. Instead, you will pay Land and Buildings Transaction Tax.
In Wales, SDLT does not apply. Instead, you will pay Land Transaction Tax.
If you rent or buy a property, you may have to pay business rates. Small businesses can apply for a discount on business rates and some may pay nothing.
Business rates are charged on most non-domestic properties, like:
- holiday rental homes or guest houses
Find professional help to locate in the UK
You can search the UK Investment Support Directory to find specialists with experience in helping businesses set up or expand in the UK.