While the uncertainties on the economic outlook and impact on the property industry have not completely vanished, there is a new buzz in the business community of the North West.
There are a variety of reasons for this and most of them point to a fundamental strength in the long-term outlook for the region. Let’s start with the city centre. Here Sir Howard Bernstein has boosted confidence with a £170 million investment in the town hall and library adding to the force of the private sector in new developments around Albert Square.
Then there is Spinningfields with its quality architecture and presence that is maturing into a significant addition to the city. In Salford, the substantial Soapworks scheme is heading for success. That will complement MediaCity but also provide competition.
Outside Manchester, Macclesfield has a fine new scheme and the dynamic expansion of Jaguar Land Rover is pulling in new tenants to Merseyside. Indeed the industrial market is gaining in strength. Birchwood and other business parks are now hoovering up new occupiers.
Apart from anything there is a sound group of developers, such as Orbit, Peel, Bruntwood and MEPC who have displayed considerable business skills in the long period of the recession.