Earlier this month our North-East Valuation team invited clients and professional contacts on a bus tour, looking at key commercial property sites across the region.
The tour began at our Grey Street office in Newcastle city centre and then the bus took the 46 guests to North & South Tyneside, Washington, Sunderland before finishing up at Bealim House, for food, drinks and some informal networking.
The standout features and themes for the tour were the influence of the public sector on the North East commercial property market. There was a focus on the South Shields Town Centre regeneration, Sunderland Strategic Transport Corridor CPO, North Tyneside Enterprise Zones, the A19/Silverlink Interchange CPO and NELEP investment in the Sunderland International Advance Manufacturing Park (Sunderland IAMP).
David Downing, head of our valuation team in the North East and organiser of the tour commented, ““It’s been 4 years since we last did a bus tour for clients and perhaps it therefore comes as no surprise there have been some significant changes in the market. As we prepared the route the one overarching theme that stood out a mile was the influence public sector investment has had on the market over this time. The increased use of CPO powers to bring forward regeneration projects, public sector grant and loan funding to bring propagate private sector development has been a real driver for development in the north east over the last few years, bringing much needed construction activity.”
We’ve already received some brilliant feedback and have a highlighted some included some quotes below:
David Leech, Corporate Manager at Handelsbanken “Just wanted to say a massive thank you for today’s trip around the area. It was really interesting and very informative.”
Neil Simpson, Relationship Manager at Royal Bank of Scotland, “Thanks again for the invite and David, I found the content and areas visited an excellent mix and a great way for me to get a general update on the local market which is very useful for me.”
Tom Wills, partner at Sinton LLP, “Thank you again so much for your hospitality yesterday. The trip was fantastic and incredibly interesting. Seeing inside the port of Tyne was also really special.”