Hagen Developments says the arrival of the Treasury campus in Darlington will attract other significant examples of ‘north shoring’.
However, it isn’t just organisations and businesses looking to move from the expensive South East to cost effective locations in the North that are making the headlines.
Stuart Keegan, the company’s senior surveyor, says it is experiencing a rise in enquires from other regions, as well as within the North East, seeking to relocate or open a satellite office in Darlington.
He reported that high quality office space remains at a premium in the town – reflected by demand for units at the firm’s Pioneer Court business park.
“Darlington has emerged as a prime north shoring location,” he added. “The announcement surrounding the arrival of the Treasury Campus has placed the town and the wider Tees Valley in the national spotlight.
“The obvious opportunities this creates is inspiring businesses to relocate or establish a presence in the town. The importance of location is becoming less significant, and there are obvious attractions for companies currently based in high-cost UK regions and cities. At the same time Darlington remains highly accessible, given its proximity to the A1(M) and A19, Teesside and Newcastle airports and the East Coast main line.
“It’s not just about cutting operational costs, relocating a business can also have huge benefits for employees in terms of shorter commutes, cheaper housing and a better quality of life.”
He said that established local businesses are also benefitting from lower overheads and cost of living when compared with London and the South East.
“Anecdotally, I’ve heard from several businesses in Darlington – including our tenants and owner occupiers in Pioneer Court – that are winning work from rivals in the South of England because they are able to deliver the same service at a lower price.
“The focus is increasingly on delivering both high levels of service and value – which is good news for Darlington as a location for business.”