Milton Keynes The UK s Prime Office ocation Head Office Business, Professional & Financial Services The Milton Keynes Prime Office Opportunity Milton Keynes is the UK s prime office location for companies seeking superb connectivity to ondon, UK and international markets, workforce excellence and a significantly reduced cost base. ocated just 32 minutes from ondon, the city s highly developed industry cluster includes more than 400 head office and financial services companies, and a specialist workforce of more than 22,000 people. Milton Keynes is ideally positioned to support A business large, specialist growth. Property solutions include available prime office premises and unique, city centre greenfield development sites. The city s fast growing population and housing stock further support business expansions. But Milton Keynes offers something more: significant savings on property and labour costs versus competitor UK locations, including -72% lower prime office rents than ondon. That s why leading companies including Volkswagen, Santander, Deloitte, Dentons and Mercedes-Benz have chosen Milton Keynes to be their UK prime office location.
MK A UK-eading Industry Cluster Milton Keynes is home to a highly developed cluster of head office and business, professional and financial services operations. Representing an industry concentration of twice the Great Britain average [1], the cluster includes more than 400 head office and financial services companies [2] and employs 22,000 people. That s 13% of the city s total workforce, compared with a Great Britain average of just 9%. [3] The Milton Keynes cluster incorporates: More than 150 head office operations, representing diverse industry sectors including consumer finance, retail, banking, industrial products, financial technologies, IT outsourcing, leisure and social care [4] More than 250 financial services companies, with key specialisations including consumer and vehicle finance [5] World-leading management consultancy, accountancy and law firms 150+ Head Office Operations 250+ Financial Services Companies 22,000 Skilled Workers 2 x the Great Britain Average Industry Concentrations for head office, financial services and management consultancy activities eading UK & Global Companies Including: Volkswagen Financial Services (UK) Home Retail Group Santander Mercedes Benz Financial Services (UK) Deloitte Network Rail Dentons Countrywide Group Mazars National House-Building Council eading UK and Global Companies Industry Clustering ocation Quotients (Qs) measure industry clustering (the ratio of local sector workforce numbers to the national average). The chart shows average Qs for Financial Services, Head Office & Management Consultancy classifications. [1].Q. OCATIONS KEY MITON KEYNES M25 NORTH / M1 / M11 THAMES VAEY ONDON M25 SOUTH MAJOR ENGISH CITIES
MK Skilled abour Cost Savings Massive abour Cost Savings vs. ondon and the City ocated just 32 minutes from Central ondon [6], Milton Keynes delivers massive labour cost savings for businesses versus the capital. 35,850 62,254 In Milton Keynes, business, professional and financial services (BPFS) sector companies can benefit from average salary costs that are 42% lower than the City of ondon and 31% lower than ondon (average of 4 surveyed key prime office locations). [7] 44,244 47,414 54,387 Substantial abour Cost Savings vs. ondon Satellite ocations Milton Keynes delivers significant labour cost savings versus alternative ondon satellite prime office locations. By establishing operations in the city, businesses can save up to 10% on BPFS sector salary costs (vs. Maidenhead), or 6% versus the average of 9 key competitor locations. [7]
MK Skilled abour Availability Milton Keynes can provide expanding businesses with access to a large, skilled and specialist workforce across key categories for head office and business, professional and financial services functions. A arge-scale, Specialist Business, Professional and Financial Services (BPFS) Workforce Amongst ondon satellite locations, Milton Keynes stands out for the scale of its BPFS sector workforce. Within the city, 22,000 employees provide businesses with specialist skills across areas including financial services, law, accounting, management consultancy and business administration. [3] A arge-scale, Senior Management Workforce Reflecting the city s status as a leading UK head office location, the Milton Keynes workforce benefits from a high percentage of senior management personnel. Amongst key ondon satellite locations, Milton Keynes performs strongly against this measure. [8] A arge-scale Information and Communications Workforce Milton Keynes head office and BPFS cluster incorporates, and is supported by, a large workforce in the key Information and Communications category. Against this measure, Milton Keynes is a leader amongst ondon satellite locations, and the best served location to the north of ondon. [9]
MK Prime Office Rent and Occupancy Cost Savings For businesses with prime office requirements, Milton Keynes delivers significant cost savings versus alternative UK locations, based on a range of property and occupancy cost metrics. Office Occupancy Costs include Net Effective Rent and Other Property Costs: rates, service charges, hard and soft facilities management and management costs. Costs shown are per annum for 10,000 sq.ft. (NIA) prime office premises.
MK Prime Office Rental Cost Savings For businesses with prime office requirements, Milton Keynes delivers potentially massive rental cost savings versus ondon and the City, ondon satellite locations, and major cities in the Midlands and North of England. Massive Prime Office Rental Cost Savings vs. ondon and the City Milton Keynes delivers massive rental cost savings for businesses versus the capital. 22.5 70 In Milton Keynes, companies can save 68% on prime office rental costs versus the City of ondon and 72% versus ondon (average of 4 surveyed key prime office locations). [12] 47 80 120 (H1 2016 data. As of Nov. 2016, prime office rents in central Milton Keynes are 23.50 per sq.ft.). Substantial Prime Office Rental Cost Savings vs. ondon Satellite ocations Milton Keynes delivers significant rental cost savings versus alternative ondon satellite prime office locations. By establishing operations in the city, businesses can save up to 40% on prime office rents (vs. Maidenhead), or 27% versus the average of 9 key competitor locations. [12] Substantial Prime Office Rental Cost Savings vs. Major English Cities Milton Keynes also delivers significant prime office rental cost savings versus major cities in the Midlands and North of England. 22.5 32 34 By establishing operations in the city, businesses can save up to 34% on prime office rents (vs. Manchester) or 27% versus the average of Birmingham, Manchester and eeds. [12] 27
MK Prime Office Occupancy Cost Savings Milton Keynes delivers potentially massive prime office Occupancy Cost savings versus ondon and the City, as well as significant savings versus ondon satellite locations and major cities in the Midlands and North of England. Massive Prime Office Occupancy Cost Savings vs. ondon and the City 191,300 Milton Keynes delivers massive prime office occupancy cost savings for businesses versus the capital. In Milton Keynes, companies can save 52% on occupancy costs versus the City of ondon and 56% versus ondon (average of 4 surveyed key prime office [20] [21] locations). Substantial Prime Office Occupancy Cost Savings vs. ondon Satellite ocations Milton Keynes delivers significant Occupancy Cost savings versus alternative ondon satellite prime office locations. By establishing operations in the city, businesses can save up to 24% on Occupancy Costs (vs. Maidenhead), or 15% versus the average of 8 key [20] [21] competitor locations. Prime Office Occupancy Cost Savings vs. Major English Cities Milton Keynes also delivers prime office Occupancy Cost savings versus major cities in the Midlands and North of England. By establishing operations in the city, businesses can save up to 15% on occupancy costs (vs. Manchester) or 13% versus the average of Birmingham, [20] [21] Manchester and eeds.
MK Transport and Data Connectivity Transport Connectivity Milton Keynes strategic location and excellent transport connectivity have been key factors in attracting major head office, and business, professional and financial services operations to the city. While benefiting from the reduced costs and congestion of an out-of-ondon location, businesses located in Milton Keynes can access central ondon in just 32 minutes (by rail) [6]. That makes the city an extension of Europe s business capital, while enabling faster access to other UK business centres than can be achieved from a ondon base. Milton Keynes benefits from significantly better international connectivity than the UK s major provincial cities. Fast, direct access to the ondon airports system, as well as Birmingham airport, means that Milton Keynes-based business travellers can access more than 400 direct and hub-feeder air services in less than 1 [14] [15] [16] hour. Data Connectivity Milton Keynes also provides businesses with high-quality data connectivity. The entire county of Buckinghamshire (including MK) achieves an overall Ofcom ranking of 1 (highest/fastest) for broadband coverage, based on 4 key metrics: Average broadband take-up Percentage receiving less than 2Mbit/s Superfast broadband availability Average modem sync speed [18] Additionally, the city s Central Superfast Broadband Project aims to deliver superfast broadband access (24 Mpbs) to 96% of MK premises by 2016. [19]
MK UK and International Connectivity From Milton Keynes to: Hours Miles Hours UK Cities ondon (central) 1.15 55 0.32 D Birmingham 1.17 71 0.55 D Bristol 2.04 109 2.46 eeds 2.23 147 2.40 Manchester 2.37 153 1.38 D Newcastle 3.42 239 4.00 Glasgow 5.17 356 4.13 Edinburgh 5.44 355 4.39 UK Airports (ondon & Birmingham) ondon uton (TN) 0.30 26 1.28 ondon Heathrow (HR) 0.53 54 1.41 Birmingham (BHX) 1.05 62 0.40 D ondon Stansted (STN) 1.11 73 1.55 ondon Gatwick (GW) 1.26 91 1.45 ondon City (CY) 1.18 73 1.18 UK International Rail Terminal Eurostar 0.52 Continental European Rail Terminals Paris 3.55 Brussels 3.30 Sources: [6] [16] [17] D = Direct
MK Cost of iving Advantages While being England s fastest growing city, Milton Keynes continues to out-perform competitor locations in terms of housing affordability and supply. For companies and their people, that means capacity to accommodate growth and a better quality of life. Affordable Housing: ow House Price to Income Ratios House price to income ratios measure housing affordability, making them key measures of living standards and quality of life. Milton Keynes benefits from a low house price to income ratio in comparison with other key prime office locations in ondon and the [7] [22] South East of England. (Numbers rounded in chart. MK is 7.7 vs. 8.4 for Crawley and Reading) Affordable Housing: Relatively ow Average House Prices In spite of sustained, strong economic growth, housing is significantly more affordable in Milton Keynes than in competitor prime office locations. In Milton Keynes, house prices are 33% lower than the average of 10 key prime office ondon satellite locations. [22] Projected New Homes As a planned new city with large stocks of development land, Milton Keynes has space for growth, including new house building. In Milton Keynes significantly more new homes are projected than in other key prime office ondon satellite locations. [23] ocation Projected New Homes/Year Period Milton Keynes 2,422 2016-2021 Hemel Hempstead 430 2006-2031 St Albans 436 2011-2031 Cambridge 700 2011-2031 Watford 276 2016-2031 Northampton 1,048 2011-2029 Croydon 1,010 2011-2031 Crawley 675 2015-2030 Reading 521 2016-2026 Maidenhead 668 2016-2031 Swindon 1,466 2011-2026 Oxford 400 2006-2026
MK World-Class Business Knowledge and Education The Milton Keynes area is a world-class centre of management expertise and education. Cranfield School of Management ocated less than 15 minutes from Milton Keynes, Cranfield School of Management is consistently recognised for excellence in international business school rankings. Working with organisations as diverse as Jaguar and Rover, Royal Dutch Shell and Oréal, the school's key activities include: eading-edge, collaborative research and consultancy Postgraduate degree programmes (MBA, MSc, DBA, PhD) Executive development for middle and senior managers Customised company programmes As part of Cranfield University - the UK s only wholly postgraduate university specialising in management technology, science and engineering - the school is uniquely placed to connect leadership and technology. [24] University Campus Milton Keynes (UCMK) UCMK is a higher education institution operated by the University of Bedfordshire. Courses include: Mathematics and Finance (with Placement) BSc (Hons) Business Management (with placement) BA (Hons) [25] Milton Keynes College Milton Keynes College delivers a range of vocational courses and qualifications. Courses are available in areas including: Accounting and Business Computing and Information Technology [26]
Milton Keynes Dedicated Support for Your Business Relocation or Expansion Support from Invest Milton Keynes Invest Milton Keynes is part of the Economic Development team at Milton Keynes Council. We are committed to providing your company with the help and support you need for a successful business relocation or expansion in the UK's fastest growing city. Our completely free and confidential services include: ocal intelligence & market information Commercial property and land solutions Access to business networks and directories Assistance identifying workforce education and skills solutions Introductions and assistance relating to (e.g.) planning and business regulations City tours and hosted familiarisation visits Valuable relocation support for staff and families Ongoing support after your Milton Keynes expansion Contact us to find out more about Milton Keynes, and how we can support your business relocation or expansion: Invest Milton Keynes Civic Offices 1 Saxon Gate East Milton Keynes MK9 3EJ Telephone: +44 (0) 1908 200800 Email: investmiltonkeynes@milton-keynes.gov.uk Website: www.investmiltonkeynes.com Sources: [1] MINT, 2014, SICs 64, 701 & 702 [2] MINT, 2014, SICs 64, 65 & 701 [3] ONS BRES 2015 (SICs 64, 65, 66, 69, 70, 821, 822, 829) [4] MINT, 2014, SIC 701 [5] MINT, 2014, SICs 64 & 65 [6] thetrainline.com, Oct. 2016 [7] ONS Annual Survey of Hours & Earnings, 2015. BPFS estimated averages (SICs 64, 65, 66, 69, 70, 82) for ocal Authority areas [8] ONS Annual Population Survey, 2016 [9] ONS BRES 2015, Full Time Workers by District [10] ONS Annual Population Survey, 2016 [11] ONS Population Projections, 2016-2036 [12] CBRE, Q2 2016, except Cambridge & Oxford: SH Q1 2016 [13] london-luton.co.uk, Oct. 201 [14] birminghamairport.co.uk, Oct. 2016 [15] heathrow.com, Oct. 2016 [16] londonmidland.com, Oct. 2016 [17] Google Maps, Oct. 2016 (off peak) [18] maps.ofcom.org.uk/broadband [19] miltonkeynes.gov.uk [20] SH (prime office costs, Q1 2016) [21] VOA (2010 Rateable Values) [22] UK House Price Index, 2015 [23] ocal authorities: local plans, development frameworks and planning policies, 2016 [24] cranfield.ac.uk, 2016 [25] University of Bedfordshire, 2016 [26] Milton Keynes College, 2016