Milton Keynes remains the fastest growing city in post Brexit league.
Milton Keynes continued its impressive economic performance following the decision to leave the EU, with GVA growth of 3.0% in the 12 months to q3 2016 and employment growth of 2.1% over the same period.
These two factors combined to maintain first position in the January 2017 ‘UK Powerhouse’ report by Irwin Mitchell.
The report also goes on to look at the coming year and as the UK economy slows, growth in Milton Keynes remains strong although it is over taken by Cambridge and Oxford whose economies are marginally stronger.
Milton Keynes celebrates its 50th Anniversary in 2017
The decision to develop a new town around the village of Milton Keynes began in 1967, with construction commencing on 23rd January.
The ‘new town’ was conceived to help alleviate the chronic housing problems in London and to create a commercial centre in Buckinghamshire.
Milton Keynes is now the UK’s largest and, probably, most successful ‘new town’, with a population of 264,000 residents and an economy worth £9.6bn.
Milton Keynes to vote on Business Improvement District levy in February 2017
Businesses in the Central Milton Keynes area are to vote on the introduction of a ‘special levy’ to aid the improvement and promotion of the central business district in February this year.
The campaign, which has been styled ‘Amazing CMK’ will reinvest the money raised over the next five years to enhance the business area for the benefit of employees and visitors to the city.
Silverstone Technology Cluster appoints CEO
The high performance engineering cluster which has developed around Silverstone Park appointed its first CEO (Pim Van Baarsen) to promote the concept and develop the newly launched Silverstone Technology Cluster (STC).
STC is a collaboration between private and public sector, with Silverstone Park developer MEPC taking a lead role.
Milton Keynes secondary office rents move to £21.50 per sq ft.
68% of grade A office supply is focused in the city centre.
8.7% pa Growth in Milton Keynes secondary office rents over past three years
Growth in Milton Keynes secondary office rents over past three years
Availability in Milton Keynes and Northampton industrial markets down to just 4.3% and 3.6% respectively.
Secondary industrial rental growth in M1 south exceeds growth in prime rents.
Combined total of Milton Keynes and Northampton industrial take up in 2016
Milton Keynes Office
Large letting at Witan Gate House (53,000 sq ft) pushes take up to 302,600 sq ft
Milton Keynes Industrial
Availability rate down to lowest level since 2005 at 4.3%
Supply increases as second hand space is released onto the market
Take up exceeds 1m sq ft for the second year in a row, with 1.3m sq ft of lettings