There are plenty of reasons for being optimistic about the outlook for the North West, even though it has economic problems and stubborn unemployment. The main reason lies in the vision and ability of its entrepreneurs, whether they be in property development or manufacturing. Top of the list has to be John Whittaker of Peel. Having hit the BBC jackpot with MediaCity he is now intent on doubling that up with another 5 million sq.ft. That is on top of his two massive schemes on the Wirral and in
Liverpool. These are decades long plans that not only transform areas but suck in thriving businesses. The local authorities love it and are giving their backing.
Also in the equation is the highly successful Manchester Airports Group with its property company, MAG, proposing another mega scheme at the airport of 464,500 sq.metres (5 million sq.ft.). In the surrounding area of south Manchester sentiment is improving, indicated by Siemens’ ambitious plans for a mixed use development and expansion of its existing business. There are two gaps starting to appear in the market. Each of them is a growing shortage of Grade A space, offices and industrial. Government policies have contributed to this through the ignorant change of policy to charging rates on empty property. But we do need the developers to build in the middle of
Manchester (and other regional cities, for that matter).