It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead. It has become something of a tradition, given that we’ve been doing this now for over 30 years.
While none of us possess a crystal ball, it is uncanny how accurate some of these forecasts have been over the years.
Here we talk with Richard Heslop, owner and MD of West Yorkshire property consultancy DE Commercial.
Now that the political uncertainty is over, following the decisive General Election result, I expect a bounce within the commercial property sector in Yorkshire. The debate over Brexit and the threat of punitive taxation under a potential Labour government was holding everyone back – now developers and investors are ready to crack on with projects in the region. Confidence will return to the market. I am currently already working on a couple of investment deals.
I believe there will now be a return to speculative development in the industrial property warehouse sector in Yorkshire, especially West Yorkshire, where demand currently well outstrips supply. We have already been approached by a developer looking to build out up to 20,000 sq ft in the first phase of warehouse/industrial space immediately upon receipt of detailed planning permission. There is every reason to be cheerful about  – the fundamentals are in place for Yorkshire to flourish, especially if the Prime Minister keeps his promise to power up the north.