The cheapest - and most expensive - places you can open a business in Hull right now

By Hull Daily Mail | Posted: 31 Mar 2019

There are lots of different factors to consider when deciding where to open a new business.

The soaring business rates and rents associated with the city centre may be enough to deter many from launching a company in the heart of Hull.

But how does setting up shop in other well-known shopping areas - from Newland Avenue and Hessle Road to Holderness Road - compare?

The results are startling. There are retail units up for grabs in places like Spring Bank West and Holderness Road for as little as £8,400 per year (business rates and rents combined).

A city centre unit however, will set you back upwards of £45,000 per year for the same.

Other factors do also come into play, from business insurance to utility bills, but these are dependent on what the company does.

Read more: How much it costs to open a shop in each empty city centre unit

A bakery, for example, will have significantly higher electricity bills than a simple retail shop.

Hull Live has picked out some of the empty retail units available in the city, and compared how much it would cost to open a business in them.

The cheaper options  (up to £15,000 per year)

Wold Road

An empty unit in Wold Road
  • Most recently known as - Brocklehurst Pharmacy
  • Business rent per year - £8,004 

  • Business rate per year - £5,200 

  • Total combined cost - £13,204

Southcoates Lane

An empty unit in Southcoates Lane
  • Business rent per year - £4,956

  • Business rate per year - £4,450

  • Total combined cost - £9,406

Holderness Road

An empty unit in Holderness Road
  • Business rent per year - £4,500 

  • Business rate per year - £3,900 

  • Total combined cost - £8,400

Spring Bank West

An empty unit in Spring Bank West
  • Most recently known as - Higson Homes
  • Business rent per year - £6,750 

  • Business rate per year - £5,100 

  • Total combined cost - £11,850

Medium-priced options  (£15,000 - £45,000 per year)

Anlaby Common

This shop in Anlaby Common is up for grabs
  • Business rent per year - £10,500 

  • Business rate per year - £7,000 

  • Total combined cost - £17,500

Marfleet Lane

The property in Marfleet Lane, east Hull

  • Most recently known as - Fultons Food
  • Business rent per year - £24,996

  • Business rate per year - £20,750

  • Total combined cost - £45,746

Hessle Road

A empty shop in Hessle Road

  • Most recently known as - Coopland's Orchard Cafe 
  • Business rent per year - £11,000

  • Business rate per year - £13,250

  • Total combined cost - £24,250

Hessle Road

Another empty space in Hessle Road
  • Business rent per year - £15,500

  • Business rate per year - £8,100

  • Total combined cost - £23,600

Prestongate, Hessle

Empty unit in Prestongate, Hessle
  • Business rent per year - £11,250

  • Business rate per year - £6,900

  • Total combined cost - £18,150

The most expensive places  (£46,000+ per year)

23 Whitefriargate

An empty shop in Whitefriargate
  • Business rent per year - £52,500
  • Business rate per year - £21,000
  • Total combined cost - £73,500

22 Alfred Gelder Street

The former Co-op Bank in the centre of Hull
  • Most recently known as - Co-op Bank
  • Business rent per year - £30,000
  • Business rate per year - £27,750
  • Total combined cost - £57,750

73-75 Jameson Street

73-75 Jameson Street
  • Most recently known as - Prem Menswear
  • Business rent per year - £35,000
  • Business rate per year - £28,750
  • Total combined cost - £63,750



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Source article: http://www.hulldailymail.co.uk/

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