North hit by lack of industrial market new-build

The region’s prospects are definitely improving, although the upturn is stronger within the manufacturing, retail distribution and office (service) sectors.

The growth in internet use will continue to impact on some high street and out-of-town retail demand. It will also drive further growth for larger and more technologically advanced facilities.

There is still a lack of new build supply in the northern England industrial market; of the stock left around the north of England, only a small proportion of the stock built prior to 2008 is still available.

However, the weak debt finance markets are still impacting on underlying property market conditions and preventing new build speculative schemes coming forward.

New build is possible in the pre-let, pre-sale market. Access to land and viable development finance is difficult, however, and this will continue to suppress new stock levels coming through.

What is the best project you have been involved in?

For value add and personal satisfaction, a project in 2006 – Vango 250, A1, Washington – in the north east which netted a £7m profit over a 17-month period.

What is your favourite building in the region and why?

Leeds City Station and immediate surrounds – not for what it currently is but for what it can be following a comprehensive redevelopment to provide a strong link from north to south of the arches and city.

If you could change one thing to improve the property industry in this region, what would it be?

I would change and correct the current under supply of good quality industrial and manufacturing premises across the region.

Who has inspired you?

What inspired me was sitting in a lecture theatre at University in Glasgow watching a five-minute clip of the Meadowhall Shopping Project and the success generated through the mind of a chartered surveyor. It’s ironic that I now work three miles from what I watched in 1991.