Continuing improvements to transport networks are helping East Anglia become a more significant trading area.
Businesses are looking more closely at the region with its strengthening infrastructure, a ready workforce and good work/life balance – without the costs associated with the big cities.
Boxpod has seen the number of commercial units available to rent double in the past year. Over the same time, enquiries have gone up 306% and property views up by 210% (comparing 2017 and 2018). Landlords are seeing it as a good area to invest in and flexible units can accommodate businesses’ changing demands for workspace to rent.
Traditional hot spots like Norwich and Kings Lynn continue to be busy and also face the national dilemma of high street retailing woes.
Boxpod MD Nick Marlow says while the region offers opportunities for growth, the need for support and action from Government over property taxes and business red tape are vital.
He said: “East Anglia is like any other region in the UK when it comes to retailing. There are many strong market towns like Norwich that all have been vibrant and have attractive retailing areas but which are, like so many others, under real threat of decline if support doesn’t come soon.
“Many East Anglian towns have a huge historic significance and not only attract shoppers but also a large tourist population. Yes, they come to look at the architecture and explore the history but without retailers there will not be a future for tourism. This adds a more powerful message to the powers above in Westminster. Action and help are need now.
“Retailing will only survive along with the Internet if the business rates system based on property values is abolished and a fair tax system placed against turnover is put in place and Internet companies are also taxed on a revenue basis”