Nick Pettit

Local Market and Procurement

property trends seminar

28 march 2017

 

Leading property consultancy Bidwells hosted a Property Trends seminar in Cambridge in which a trio of experts gave their insight on the economy and property market and what the future may hold.

With Article 50 being exercised the day after the Bidwells event, one of the key messages from the seminar was that the Cambridge-London-Oxford Golden Triangle continues to experience strong growth and is well placed to weather the uncertainties of Brexit.

The seminar was held at the Moller Centre in Cambridge and focussed on the future economic and property market conditions which will affect the country both nationally and closer to home.  Also included were the latest findings of the review of the Greater Cambridge Greater Peterborough Local Enterprise Partnership (GCGP) Strategic Economic Plan and its impact for public investment in the region.

 

In concluding the seminar, Bidwells Partner Nick Pettit gave an overview of the local construction and development sector.

 

Key comments included:

  • Brexit had created uncertainty within the construction sector, leaving contractors keen to secure new projects on competitive terms.
  • Whilst rising oil prices and a weakening Pound are leading to increases in construction costs and materials, reduced project opportunities still mean that 2017 will be a good time to procure new developments.
  • Aside from key development projects like CB1 and the rail station, significant medium term growth remains at Cambridge Science Park, CB4 (which includes extensive private rented housing), together with hinterland projects at the Bio Medical Campus, the Babraham Institute and Granta Park.

 

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