Welcome to the Q&A Forum

Hi Toni, Hosting location isn't going to play a big role in your rankings. Server stats are going to have more to do with that (i.e. is it shared/private/dedicated etc.). You won't have any difficulties or problems with Search Console. In terms of rankings, you will have the traditional issues of ranking a subdomain (split link juice, the need for unique content, etc.) but nothing out of the ordinary. If you are targeting a UK audience, the domain should probably be set up as a .co.uk domain, and you should ensure that you are following SEO best practices in setting it up. You will also want to ensure that you are generating backlinks from UK sites to show relevancy. If you stick within those guidelines you will be just fine. Let me know if you have any follow-up questions. Cheers, Rob