Business parks – The Property Chronicle
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Business parks A lack of city centre stock will stimulate a new generation of suburban business parks by 2040

Head Of Research

Business parks have come a long way since the creation of the B1 office use class in 1987 (Class 4 in Scotland) which allowed office, industrial and research and development premises to shift between uses more freely than ever before, bringing large campus style business parks into existence. Still continuing to adapt and evolve, business parks are now again challenging the dominance of city centre business districts, which are currently experiencing a lack of stock and rapid rent rises. Parks are attracting big businesses and fresh talent.

Once thought of as an outdated work environment, business parks have repositioned themselves in recent years as a place where occupiers can both work and play, bringing city life to the out of town market.

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