Saturday, December 23, 2017

Branson on the North West Issue 82 December 2017

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All the numbers add up for vibrant regional economy and property industry which is transforming so many towns and cities.

At the heart of it is the Manchester city centre office market which is turning in consistently high levels of take-up and attracting major global companies (such as Amazon, now pushing hard in the North West).

However, this is only part of the picture. There is a new entrepreneurial spirit in local government as shown by Warrington Borough Council buying Birchwood Park and Salford embarking on an ambitious development programme. Both want to boost their income in the face of government spending restrictions.

Indeed, Salford has grown in confidence as Peel has expanded along the Manchester Ship Canal and developed the Media City, which has become a mecca for cultural and media companies. Now the council is developing a new initiative to boost its cultural credentials.

The one uncertainty at the moment is what Mayor Andy Burnham will do. Will he damage the successful development model pushed for decades by Sir Howard Bernstein? So far he has indicated his main concern is to boost housing provision. Sadly, history tells us that politicians want to make their mark and may do irrational things. Time will tell.

In many ways Burnham has been dealt a good hand because of the strength of the high tech industry; the entrepreneurial spirit among developers and the major presence of Manchester Airport.

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