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Commercial property to let in Hull

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Further information for commercial property to let in Hull

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Commercial Property Guide: Hull

Strategically positioned on the Humber estuary at the midway point between Edinburgh and London, Kingston upon Hull offers a central location for commercial ventures. Hull’s currently home to about 8,300 businesses, with 4,800 of these being VAT registered. It not only boasts a long and storied maritime history, but was where LCD technology and Yorkshire Puddings were invented. Hull was also the location of the first World Trade Centre in the UK.

The lower cost of living in this region (approximately 40% lower than the national average) makes Hull particularly attractive to small businesses and start-ups. About 80% of Hull businesses employ under 10 people, and operating costs for businesses in Yorkshire are 20% lower than the national average.

According to an Experian analysis published in March 2013, Hull was at the top of the list for businesses in terms of sales growth. With a number of new developments in the pipeline, Hull is a small city on the rise once more.

Prominent local industry

Historically known for its shipping and fishing industries, Hull has had to refocus its economy as these dwindled. Today, Hull is poised to become a key location for the wind energy boom; some predict that green energy could be to Hull what oil has been to Aberdeen.

The port still plays a strong role in the local economy, handling over 12m tonnes of cargo and a million passengers each year. Renewable energy is one of the most exciting new industries in Hull, with major conglomerates like Siemens Wind Power manufacturing turbines here. World leaders in the healthcare and technology industries include Smith and Nephew and Reckitt Benkiser.

One of the fastest growing sectors in Hull is its food and drink industry, particularly with the wholesaling and retailing of fish. The area accounts for 70% of the fish processing economy in the UK. Additional food and beverage employers include Aunt Bessie’s, Greencore cakes and desserts, and Chaucer Foods.

Economic and business developments

With offshore wind farms and growth of the digital industry in Hull, there’s an exciting range of new projects on the horizon. One of the biggest current developments is Alexandra Dock, which is in the process of being transformed into Green Port Hull. It will serve as a major hub for the massive wind farms being constructed in the North Sea.

Associated British Ports and Siemens are investing £310 million on a wind turbine facility for the city, while Siemens is planning to manufacture wind turbine blades in nearby Paull. This major work is the largest single investment ever seen in Hull, and will bring with it new jobs and redevelopment over the next decade.

The investment in Hull is part of the city council’s 10-year City Plan, which plans to create 7,500 jobs by 2023 alone. Since this plan took effect in 2013, the employment rate has already grown by 2.5%.

Vivergo recently opened a £350 million bioethanol production plant, and there has been an additional £150m invested in Spencers Green Energy Works. Reckitt Benckiser plans to build a new research and development centre. Hull has been named UK City of Culture for 2017, which will bring new attention to the city, its culture, and growth.

Notable commercial locations

The Green Port Hull is poised to become one of the most important commercial locations in the city, with facilities for manufacturing as well as offices and car parking. It’s expected that this area around the docks will draw in new complimentary businesses as a result of the new Enterprise Zone. This zone will offer superfast broadband, simplified planning, and other incentives.

To suit the needs of businesses in the food and beverage sector, the Malmo Food Park is located at Sutton Fields Industrial Estate. Facilities include test kitchens. Retail locations in Hull city centre include the refurbished Fruitmarket, Hepworth Arcade, and Whitefriargate.

Notable commuter hubs

There are a number of suburbs and satellite towns conveniently positioned near Hull. Anlaby is a village in the western suburbs of the city, home to a primary school and Anlaby Retail Park.

Another notable suburb is Kirk Ella, which has experienced massive growth over the latter half of the 20th century with modern housing developments.

A bit further afield are commuter hubs including Preston, Swanland, and Cottingham. From Hull, the larger city of Leeds is only a little over an hour’s drive, with some residents making the commute inland each day.

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