A new report from leading UK real estate adviser GVA has revealed that Leeds City Region has a key ‘window of opportunity’ to cement its position as one of the world’s most competitive locations for trade and investment.
The Leeds City Region Confidence Yields Growth report, supported by the Leeds City Region Enterprise Partnership (LEP), was launched on March 14 at MIPIM, the global gathering of investors, developers and occupiers, and outlines the key drivers for growth for the City Region.
These include transport infrastructure, including HS2, York Central Station and strategic new train stations at White Rose Office Park, Thorpe Park and Leeds Bradford International Airport Parkway; the knowledge economy and skills; city centre regeneration and out-of-town investment opportunities; and the continuing strength of Leeds City Region’s commercial property market.
Unveiling the report to a key audience of senior delegates and decision makers at a Leeds City Region investor developer reception, Ben Hall, regional senior director of GVA in Yorkshire, said: “Business confidence is high in Leeds City Region, a thriving place to live and work. Leeds City Region is attracting world leading occupiers and has the ability to keep those businesses on Yorkshire soil as well as attracting further customers for landlords who are hungry for growth and returns.
“Against a backdrop of central government’s strengthening policy to rebalance the UK economy, Leeds city Region has worked tirelessly to develop a strong international brand, improve links with the region’s key intermediaries and better understand its core proposition to inward investors and overseas markets.
“Working within the Leeds City Region providing investment advisory services, it is clear that from a commercial property investment perspective, the region has so much to offer to attract occupiers. We can see that through a shared desire to drive forward the largest city region economy outside of London, our ten local authorities and the LEP have combined to allocate even more resources to trade and inward investment activities.”
Roger Marsh OBE, chair of the Leeds City Region Enterprise Partnership, said: “The LEP welcomes the launch of this report which clearly recognises the opportunities and potential returns of investing in the Leeds City Region’s £62.5bn economy.
“It continues to be an exciting time to invest in Leeds City Region. There is now a real window of opportunity for the City Region to become one of the world’s most competitive locations for investment and trade.”
Mr Marsh said that for Leeds City Region to realise its economic growth ambitions, proactively demonstrating its recent successes and investment opportunities at marque events like MIPIM and through reports such as Leeds City Region Confidence Yields Growth was vital.
“Our real strength is that we have a number of powerful key towns and cities that play a vitally important role in driving our region’s prosperity and therefore we must continue to accelerate our efforts to attract new businesses and grow indigenous businesses,” he added.
“Leeds City Region provides unparalleled opportunities for inward investors and is now experiencing its fastest pace of development for decades.
“I genuinely believe that Leeds City Region is a location where the best businesses in the world can flourish – we contribute more to the national economy than any other northern region and our economic output is greater than nine EU countries.”