Chamber Hosts Property round table
10th November 2017
Recently, Lancaster & District Chamber of Commerce hosted a property round table at Premier Business Care in Caton Road to discuss the demand and supply of commercial property in the district. Attendees included senior representatives of Lancaster City Council, Cat Smith, the MP for Lancaster and Fleetwood, and members of the Chamber of Commerce with in-depth knowledge of the local property market.
Local businesses report that their growth is being suppressed by the lack of decent quality commercial office space and as a district, we risk losing these businesses to other cities that have the space. It was becoming more of an urgent issue since the Bay Gateway bypass road is proving such a success. However, discussions during the meeting suggested that the issues were deeper than that.
Some of the most pressing issues were the lack of expansion capacity for young companies wishing to expand and take on staff and high-quality office space for companies with over 150 people. Very often these companies are faced with the hard decision of relocating their businesses to different cities or counties, which causes upheaval not only to the local economy but also to the employees and their families. In addition, lack of city-centre parking was cited as a big issue although this should be mitigated if the Canal Corridor development goes ahead with their plans for up to 750 car spaces. It was also noted, however, that a lot of younger people are choosing not to drive and own cars.
Currently, Lancaster City Council (LCC) is undertaking an asset review which could free up some critical inner-city space, and also industrial land down near Heysham Port. In addition, LCC and Lancashire County Council jointly own large parcels of land around Heysham, and these are being taken up by the companies mainly focussed on the technology and energy sectors.
With LCC increasing the Economic Development budget substantially this year it provides opportunities for both the private and public sector to work hand-in-hand to identify areas that need attention. With this in mind, the Chamber will compile a co-ordinated list of property demand and supply in the district to help both potential investors and developers and also tenants. Along with a presenting this evidence base to the local authority to prove the demand exists and provision should be made, in terms of land and building allocation.
If you have commercial property to rent, sell or develop, or are in the market to buy or rent, register your interest with us and we can then distribute it amongst our partners in the district.
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