6 business centers: Norwich

The office space market in Norwich is not growing, yet the number of companies entering the market is. As a result, the landlords run the market, while the demand exceeds supply. Small companies have a higher chance of acquiring office space in the centre of Norwich, while larger ones are forced to the outskirts of the city. Serviced office space is becoming more and more popular in Norwich. It is wide-spread among younger companies that have a flexible or limited number of employees. Serviced offices in Norwich can comfortably accommodate small businesses. Moreover, the lack of supply encourages companies to turn to alternative office solutions like office sharing.

Norwich has one of the biggest outdoor markets in the country and retail plays a key role in the local employment market and overall economic performance. Retail has the largest share of the business base in the UK. Then come financial services and banking, insurance and hospitality. Around 40 per cent of the business base are knowledge-intensive firms. To support local business, the city ensures that Norwich is conveniently connected with the rest of the country. Sophisticated train and road connections and as well as an international airport within reach add on to the accessibility of the city. Business in Norwich concentrates in the city centre, the majority of business centres and companies have their offices there. Current trends suggest that due to an increasing demand that exceeds supply rental prices are expected to slightly grow in the upcoming years.

There is a number of reasons why Norwich continues to receive awards for being a prime location for work and leisure. Throughout history, Norwich has maintained its status of an upper-class city. It used to be the second-most populated city in England after London and continuously attracted new residents. Even though, today the city boasts an urban population of 200 thousand residents it is still one of the most densely populated cities in the country and boasts about 80 thousand people, who commute to Norwich for work every day. Sophisticated infrastructure seamlessly integrated into this medieval city and a stable economy make Norwich a great location to live and work.