A study by commercial property marketplace EG Propertylink found only North East Lincolnshire had a better ranking for properties up for sale or rent.
North Ayrshire was the only Scottish area to make the top 10, with an index score of 62.71 for value for money.
EG Propertylink gathered data for the average property area per square foot, average lease per square foot, properties available for letting and properties available for sale per 100,000 to create an index score out of 100 for each area in the UK.
They found the average property size in North Ayrshire was 9,077 square feet, and there were approximately 99 properties available to let and 44.2 for sale per 100,000 people.
At the top of the ranking was North East Lincolnshire, which scored 66.02 out of 100 for value for money in business spaces.
The area had 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.
The City of London ranked ninth, with a surprisingly high index score of 58.96. The average business space size there was 16,477 square feet, with 12,326 properties to let and 295.01 for sale per 100,000 residents.
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.”
