Oxford and Cambridge’s knowledge economies are both global successes, but their economic growth stories are now at critical junctures. The city’s constrained centres are pushing prime rents up to new highs at a time when their world-leading science and tech occupiers are demanding urban environments and easy access to London.
At the end of 2018, Bidwells, together with Estates Gazette (EG), hosted the inaugural Oxford-Cambridge Arc conference, just two years after the initiative was first formally supported by government in the Budget.
A year after submission, last week Plan:MK was adopted as the strategic Local Plan document to shape growth of the borough to 2031. Planning Associate, Mark Harris gives his insight into what is next for Milton Keynes.
Plan:MK was adopted on the 20th March as the strategic Local Plan document to shape growth of the borough for a minimum of 26,500 homes, almost a year after submission. Planning Partner, Mike Jones explains the key areas of the plan.
Offices and labs take up in Oxford and Cambridge has averaged 1 million sq ft per annum over the past three years, with almost 75% of this occupied by knowledge-based companies, finds Bidwells Research Director Sue Foxley.
Tomorrow’s statement will be overshadowed by Brexit votes later today and possibly immediately after the Chancellor delivers his speech, but attendees of the roundtable will be listening carefully to see if the Treasury has listened to the group’s recommendations.
Milton Keynes saw above-average take-up in 2018. Bidwells research shows that, while the overall availability rate in Milton Keynes has drifted upwards over the last three years, demand for high quality space has depleted Grade A stock to an historic low.
Bidwells latest Norfolk and Suffolk Offices and Labs research shows Norwich is feeling the impact of a shortage of high quality office space containing take up. Reflecting the stock shortages, the availability rate has declined for four consecutive years to a near ten year low, while requirements continue to climb.