Where would you relocate?
When deciding to relocate, modern leaders must weigh up their employees’ needs alongside those of the company and clients. Knight Frank Research analyses which M25 and South East towns excel in a range of measures spanning lifestyle, internet connectivity, housing affordability and prospects for economic growth.
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Question 4 of The M25 and South East Office Market Report
Office occupiers must weigh up myriad factors when choosing a new office location. Beyond the availability of suitable, high-quality office space, the ability to retain and attract top talent is paramount.
How companies go about this differs depending on the profile of employees, but choosing the right location will ensure staff can optimise their quality of life at the office and at home. Work-life balance is now seen as critical to productivity.
Knight Frank has analysed the strengths of the M25 report’s 18 markets against 11 key metrics. Using geospatial analysis of surrounding educational facilities, data on housing affordability, economic growth forecasts, availability of skilled workers and much more, the report seeks to shine a light on each of the towns' unique attributes in a bid to help decision-makers weighing an office move. In most cases data is taken from a 30-minute drive time from the centre of each town.
Where more suitable, data is taken at local authority level.
Where centres score in the top third for any metric they are highlighted blue. Where they score in the middle third they are highlighted orange. Inevitably, some have more strengths than others, but whether they are right for tomorrow’s staff will depend on the needs of a given business. Oxford, for example, scores in the top third in the most metrics, with eight. The city has excellent retail facilities, is in close proximity to the UK's top rated university and has superb internet speeds. However, one of its close competitors, Reading, in third place with six metrics in the top tier, has superior rental affordability and shorter commute times to a major London transport hub.
In weighing each metric, we have used the following methodology:
- Housing affordability
Average house price to average earnings ratio.
Sources: Land Registry, Experian/Mosaic
- Rental affordability
Average monthly rent, two-bed flat, to average earnings ratio.
Sources: Rightmove, Experian/Mosaic
- Outstanding nurseries, schools
Total number of Ofsted rated outstanding nurseries, primary schools and secondary schools.
Source: Ofsted
- Dining
Total number of Michelin-starred fine-dining restaurants, and those with a Bib Gourmand rating that's allocated for “good quality and good value” within a 20-minute drive.
Source: Michelin
- Retail
Highest scoring retail centres when balancing attractiveness, spend and footfall.
Source: CAC
- Commute to a major London transport interchange
Travel times to major London transport hubs, such as Victoria or Paddington, by rail.
