Thursday, January 29, 2015

Branson on the Midlands January 2015

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The outstanding pattern in the Midlands is that the net of development and lettings has spread more widely.

That means increased letting activity in Coventry, Nottingham, Leicester and Derby apart from the steady progress of Birmingham where the spark is coming from a massive building programme for the new HS2 line.

However, that is not the only rail investment which is affecting the city, because the refurbished New Street Station opens this year and there are plans for a host of railway and light rail improvements.

Nottingham also got the aspirational bug and plans an increased effort to woo businesses at this year’s MIPIM. Once again it cites transport improvements as providing a more business friendly city.

The strongest sector, and the one giving hope for longterm economic growth, is industrial where the expansion of the automobile industry and the re-shoring of manufacturing are working to the advantage of the region with its long tradition in these sectors.

The stability of inflation and low interest rates surely work to industry’s advantage, although they need a big spurt in the development of new buildings this year to satisfy demand. That is the message which is coming loud and clear from many agents, such as Dillon in Worcestershire and the big firms in Birmingham.

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