AFFORDABLE BUSINESS SPACE
Though city centre office rental levels have risen relative to Preston and Kendal,
they still represent excellent value. Type 3 office rentals in Lancaster increased from £70 to £85 per square metre
per annum between 2001 and 2004, compared to a rise from £90 to £95 in Preston.
Compared to the conurbations of Manchester, Liverpool and Leeds, Lancaster city-area
offers excellent value for both office and industrial sectors.
Industrial and warehouse land values (July 2005)
City/town
- Lancaster: From £200,000 per ha rising to £400,000
- Manchester: From £350,000 per ha rising to £550,000
- Preston: From £400,000 per ha rising to £500,000
- Warrington: From £250,000 per ha rising to £425,000
- South Leeds: From £400,000 per ha rising to £650,000
Valuation Office Agency (HM Revenues and Customs) Land value
| |
Northwest - Prime rental levels as at December 2005 |
 |
 |
|
 |
Prime Office (£psf) |
 |
| |
Lancaster |
|
10.00 |
|
| |
Carlisle |
|
12.00 |
|
| |
Preston |
|
10.00 |
|
| |
Blackburn |
|
13.00 |
|
| |
Bolton |
|
13.50 |
|
| |
Chester |
|
14.00 |
|
| |
Manchester |
|
27.50 |
|
| |
Liverpool |
|
17.50 |
|
Source: Cushman & Wakefield Healey & Baker
Capital values - Lancaster
Nursery unit 150-200 m2
Typical capital value £425m2
Industrial/warehouse unit 500 m2
Typical capital value £360m2
Industrial/warehouse unit 1,000 m2
Typical capital value £315m2
Source: Valuation Office Agency (HM Revenues and Customs) Land values
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