The study, conducted by commercial property marketplace EG Propertylink, assessed the best value for money in business spaces across the UK.
North Ayrshire in Scotland scored 62.71 out of 100, placing it second on the list.
The area boasts an average property size of 9,077 square feet, with approximately 99 properties available to let and 44.2 for sale per 100,000 people.
North East Lincolnshire topped the list with a score of 66.02.
It has an average of 108 commercial properties to let and 57.68 properties for sale per 100,000 people, with an average property size of 6,573 square feet.
Bridgend in Wales came third with a score of 62.41, followed closely by Blaenau Gwent, Wales, with a score of 62.39.
Chloe Ward, product manager at EG Propertylink, said: “Some of the best locations in the UK for business space value-for-money offer high-quality office space at more competitive prices.
“Cities in the North of England and regions like Wales provide businesses with affordable rents, strong local economies, and supportive growth environments, making these areas ideal for expanding companies.”
“While the City of London is known for its prestige and high business activity, certain areas within it have become surprisingly affordable for office space, as reflected in this study.
“Recent shifts in demand and increased flexibility in leasing have opened opportunities for businesses to secure prime locations at lower rates than expected.”
Rochdale in Greater Manchester was fifth, scoring 61.43.
Business spaces in this area are 22,953 square feet on average, with approximately 97 to let and 20.27 for sale per 100,000 people.
Merthyr Tydfil in Wales was sixth, with a score of 61.31.
Ceredigion, Wrexham, the City of London, and Newport, Wales, completed the top 19.
The study considered factors such as the average property area per square foot, average lease per square foot, and the number of properties available for letting and sale per 100,000 people to create an index score out of 100 for each area in the UK.
More detail can be found at https://propertylink.estatesgazette.com/.