The North West


Hyndburn shows strongest business growth in Lancashire as new data highlights rising resilience and enterprise


New figures from the Office for National Statistics show Hyndburn lead- ing the way in business growth across Lancashire, with the borough recording the strongest net increase in enterprises in 2024. The latest Business Demography data confirms that Hyndburn’s economic perfor- mance continues to strengthen.


Business births have risen each year since 2022 and now account for around 5% of all new enterprises across Lancashire. The borough also outperforms the Lancashire, North West and UK averages for business birth rates, underlining the area’s growing reputation as a place where new ideas and ventures can thrive.


Business resilience has also improved. For the first time since 2020, the number of business closures has fallen, returning to levels last seen in 2021. Hyndburn’s business death rate is now lower than the Lancashire average and sits below both regional and national benchmarks, showing comparatively strong stability in the local business base.


This combination of rising business starts and falling closures has resulted in Hyndburn achieving the strongest net business growth of any Lancashire district in 2024.


Hyndburn Council’s Economic Development Team has continued to play an active role in supporting businesses throughout the borough.


Over the past year the team has delivered a busy programme of activity including:


• • •


186 instances of direct business support, including one-to-one guid- ance for established businesses and help for 39 new start-ups


14 business workshops, covering topics from start-up essentials to marketing tools such as Canva and emerging technology including AI £75,000 invested in business grants


This continued support forms part of the Council’s commitment to helping businesses start, grow and succeed, ensuring Hyndburn remains a strong and competitive place for enterprise.


Over the past year, the Council’s Economic Development Team has pro- vided direct support to 186 local businesses, both new and old.


Accrin Mortgages is one such business who has received direct support from the team.


IN MY VIEW: Lancashire’s Commercial Property Market - Mark Clarkson, Eckersley


Mark, how would you describe the Lancashire market at the moment?


Mark Clarkson


It is still active, but there has definitely been a shift in tone over the past few weeks. Businesses are taking more time over decisions and looking more closely at costs, funding and levels of risk. The wider geopolitical position has fed into that, par- ticularly around inflation and rising energy


costs, and is influencing sentiment. That said, the underlying market in Lancashire and the wider North West remains solid. Property in the right location and of good quality is still attracting interest.


Are particular sectors holding up better than others?


Industrial and logistics continue to perform well, particularly smaller and mid-sized units. There has been a lack of supply for some time and that has created a level of pent-up demand which is still working its way through the market. We are involved with a number of schemes across Lancashire and Cumbria and, where they are deliverable and sensibly priced, there is genuine occupier interest. Where new space is brought forward speculatively, it tends to perform well and can actually unlock further demand. We have seen that first-hand at schemes such as Aptus at Roman Way, where the delivery of new build units has generated strong levels of interest and helped bring occupiers into the market who were previously sitting on the sidelines due to a lack of available options. The office market is more variable and generally needs to be of good quality, with good accessibility and parking, to let well. Retail is still very location-specific, with roadside and convenience performing better than traditional high street, while the secondary market remains challenging.


What sort of work is Eckersley currently involved with?


There is a broad mix of work streams within the business at present. We are advising on a range of logistics and industrial development oppor- tunities across Lancashire and Cumbria, which continue to generate good levels of interest, largely due to the ongoing shortage of available stock. Alongside that, we are involved in a number of strategic residential


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development instructions, typically planning-led projects, as well as work across care, retirement and assisted living schemes, together with con- venience retail and roadside developments. A core part of our business remains general commercial agency, acting on acquisitions and disposals, alongside lease advisory and valuation work. Whilst things have become more measured recently, deals are still progressing where buyer and seller expectations are aligned. Overall, 2025 and into 2026 has been a very active and positive period for us.


How are investors responding to current conditions?


Investors are still in the market, but they are more focused on due dili- gence. There is greater emphasis on income security, particularly cove- nant strength, and the risk around future holding costs. In general, there is less appetite to take on risk unless it is properly reflected in pricing. One of the more noticeable changes is the length of time transactions are taking from going under offer through to completion. Funding, legal due diligence and general decision-making are all taking longer, which requires more active management from our perspective. That said, there is still capital looking to be deployed, but investors are understandably more cautious. The North West continues to offer good relative value, although investors are more selective than they were previously.


What advice are you giving clients at present?


It depends on whether the client is buying or selling, but broadly it comes down to caution, realism and patience. For those entering the market, it is important to factor in short-term volatility, particularly around borrow- ing and associated costs, and to recognise that transactions are taking longer to complete. For Landlords, being proactive is key. The time and expense involved in securing Tenants or repositioning space can be significant, so early engagement and measured decision-making tend to deliver better results. For occupiers, there are opportunities to secure good terms, but decisions should be based on what the business actually needs rather than short-term incentives. Over the longer term, property in the North West still provides a solid hedge against inflation. Supply remains relatively tight and demand is consistent, and while there may be short-term fluctuations, well-located and well-managed assets tend to hold their position.


COMMERCIAL PROPERTY MONTHLY 2026


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