A study by HSBC Commercial Banking, has declared that ‘Made in Britain’ goods will enjoy a comeback, benefiting new business ‘super cities.’ The ‘Future of Business Report 2011’ revealed seven British cities will become ‘super cities’, during the coming decade.
The report confidently predicts a rebirth of Britain’s manufacturing heyday and a return to the world buying goods that have been manufactured in Britain.
A return to form for British industry is most definitely required, as today industry makes up only one eighth of the economy.
The seven cities named to become ‘super cities’ are, Bristol, Glasgow, Newcastle, London, Leeds, Brighton and Liverpool.
The report points to fundamental change in British industry, Jacques-Emmanuel Blanchet, head of HSBC Commercial Banking UK, stated; ‘Change is definitely on the cards. Sixty-two per cent of business leaders believe that Britain will increasingly stand for ‘innovation and entrepreneurship’ compared with 46% previously. It is evident that in a decade’s time we will have seen a redrawing of the industrial map of the UK.’
The report is fabulous news for the commercial property sector, as growth in British industry will directly lead to a greater demand for industrial and office space. Business Secretary Vince Cable said: ‘This report’s findings are bright for the future of the British economy and especially bright for British manufacturing. We want to see technological advances generate new growth and new jobs across the country. It is encouraging to see so many of the contributors to this report share that vision.’
This makes fantastic reading for those involved in the commercial property sector in the regions. With Vince Cable adding, ‘we are creating 10 technology innovation centers to draw on leading edge research, investing £1.4 billion from the Regional Growth Fund in companies with ambitious expansion plans.’
The HSBC report makes exciting reading for those involved in the commercial property sector. Let us hope, the super city presumptions are realised over the course of the next ten years.
Previous Post
More Commercial Property Development Plans Revisited
