Sunday, November 16, 2014

Branson on Yorkshire November 2014

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There is a big county feel about the Yorkshire commercial property market with its thriving metropolis of Leeds and its strong industrial sector in many locations.

To some extent the impression is of an independent market that is a little outside the rest of the UK making its own decisions.

In particular the industrial market certainly has a head of steam at the moment with Doncaster, Wakefield and Rotherham doing well and speculative development back in West Yorkshire.

The fact that manufacturing is quoted by Knight Frank as a big taker of space will be welcome news to the government seeking to rebalance the economy.

Historically the region has always been a vital part of the industrial landscape of the UK.

The recovery from the recession looks solid and well founded with local companies doing well and taking more space. That is bringing new development, often speculative, which is adding weight to the confidence of the market.

The focus on improving transport links in the north, particularly a fast train route between Leeds and Manchester, adds to the momentum. Indeed it is hard to see the government backtracking on the improvements now that it has become such a core element in Chancellor of the Exchequer George Osborneā€™s vocabulary.

This new emphasis on the north is not a fad but an essential part of broadening the UK economy from undue reliance on the south east. It has many political ramifications apart from shifting the political focus north towards Scotland.

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