Property giants see upturn spreading beyond London

Grant Prior 11 years ago
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Some of the country’s biggest developers are reporting an improvement in the property market spreading from London and into other parts of the UK.

The British Property Federation’s annual conference will hear today that the real estate market is finally showing signs of life outside the capital.

The London skyline is still peppered with cranes despite the economic downturn.

But schemes like Manchester Airport City are leading the way in other parts of the country as developers start to invest again.

Chris Grigg, Chief Executive of British Land and President of the British Property Federation, said: “A week may not seem a long time in property, but in this market, a few months certainly does.

“We have seen a real thawing in market conditions of late, and not just in London.

“The UK economy has done better than the pessimists predicted, and there is undoubtedly more bank finance out there now.

“Meanwhile, domestic and international buyers have started to run the slide rule over more real estate outside as well as inside the capital.”

Karen Campbell, Airport City Director, Manchester Airports Group, said: “Our promising £650m project sits at the heart of Manchester’s Enterprise Zone and is set to create 11,400 jobs over the next 10 to 15 years.

“It will be the largest development scheme in the UK since the Olympics.

“It will provide a huge boost for local employment, the region’s construction industry and local supply chains.”

 

 

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