Property Investors ‘Confident’ In Yorkshire Following New Planning Proposals
Over 200 industrial and logistics schemes are reportedly being planned for the region showing investors’ confidence in the region.
Research from planning and design consultancy Barton Willmore shows an estimated 203 industrial schemes, worth around £10.2bn, are in the pipeline.
Analysis of industry data shows the schemes are at various stages of the planning process and include buildings for a variety of uses – from manufacturing, warehousing to workshops and research centres.
Claire Kent, director at Barton Willmore, said: “Our research shows a significant number of industrial schemes planned for Yorkshire, across a variety of industries and local authority areas.
“It demonstrates the strength of confidence in Yorkshire, and the Northern Powerhouse as a location for growing industrial operators.
“A lack of high quality industrial and logistics space across the country has been caused by a decade of under investment, and now Yorkshire can benefit from the accumulated demand by providing the space that companies need.
“We can encourage further schemes by investing in transport and infrastructure and offering incentives to developers. In doing so we’ll attract further investment to Yorkshire.”
Barton Willmore’s research highlighted planning submissions across the county, with concentrations in the East Riding of Yorkshire, Hull and Sheffield.
Claire added: “This research shows us there is wider reason for optimism in the Yorkshire economy – because there is both demand and investment.
“There were record levels of take-up of industrial property throughout 2018 in Yorkshire, putting further pressure on supply. Barton Willmore’s clients are helping to alleviate that supply constraint.”
Claire added that Barton Willmore is working on many high profile schemes across Yorkshire.
This is said to include the former Kellingley Colliery where developer Harworth Group plans to provide 1.45 million sq ft of manufacturing and distribution space and Gateway 45 in Leeds.
(c) Bdaily, May 2019