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The property sector in the UK is a competitive and fast moving industry. However many businesses are managing to secure a competitive advantage by investing in Commercial Property Norfolk. Norfolk is an Eastern County in England, which has over 20% of it’s work force employed in agricultural and food industries, and is home to the City of Norwich and Great Yarmouth. There are a number of reasons that it could be a good investment for your businesses, which I shall cover in this article. Chosen Location of Large Businesses A number of large companies have already seen the benefit of investing and have moved into premises within the area. Firms such as Aviva, Bernard Matthews Farms and Coleman’s are among these forward thinking enterprises who are taking advantage of what Commercial Property Norfolk can offer. These big names are likely to attract more business to the area which will help to drive up property and rental prices. This shall be very beneficial to any business who has invested early and they will be likely to experience a good return on their investment. These large businesses will not only help to drive the value of such premises up, but will also hopefully increase the amount of highly skilled individuals who decide to relocate to Norfolk to find work. Again, this will attract more companies to the area and make Commercial Property Norfolk a better option. Low Cost of Living As Norfolk is outside of London and is north of the ever-expensive south east, this means that property costs and living expenses are lower and therefor easier to afford for investors and businesses. Wage rates are also likely to be lower than those in London, which is a further point that will help to attract businesses to the area. This is particularly important if there is any development or renovation required on the investment property, as builders and workers will be much cheaper and so there is hopefully less risk associated with the development. New Anglia Local Partnership Commercial property Norfolk is also likely to be on the rise due to the New Anglia Local Partnership that has recently been formed to increase the amount of jobs in Suffolk and Norfolk. This will further help to increase the demand for such properties and attract new skilled labour to the county. In the past, the partnership has worked with the local council in Norwich to offer a free wifi service to promote local business. If they were to work on new projects similar to this one, to create incentives and subsidies for local companies, this would greatly benefit the local Commercial Property Norfolk sector. This would be particularly beneficial if the subsidies were aimed at commercial and business premises, as they could potentially make the investor’s location more affordable for prospective customers. There is no denying that the future of Norfolk’s local businesses is brighter than ever, and investors who move quickly may be able to secure a good profit on their investments within the local property market.
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