Thursday, February 25, 2021

2021 Business Predictions: Keith Hardman, Head of Cushman & Wakefield’s Leeds office

It’s that time of year, when Business Link 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.

Here we speak to Keith Hardman, Head of Cushman & Wakefield’s Leeds office.

The economic impact of COVID-19 and Brexit (deal or no deal) make for an uncertain 2021.

It’s likely that the full weight of Government both nationally and locally will continue to focus on economic recovery and efforts to mitigate impacts, particularly unemployment. The Chancellor’s spending review in November gave some clear pointers to investment priorities with a new economic campus and UK infrastructure bank to be based in the North of England and £50 billion + committed to infrastructure improvements. There will be a push to commit investment in earnest to create tangible evidence of the Government’s pledge to deliver on the levelling up agenda.

Other predictions for the year ahead include:

  • Additional measures and Government interventions over and above existing funding pledges and changes to the planning system, to address the decline of town centres, which has been turbo charged by the pandemic.
  • Further reductions in retail values and high street occupier failures will tip the scales of viability positively in favour of alternative uses and bring into sharp focus the importance of place and the need to take a holistic approach to the survival of town centres. Asset repurposing will grow apace in consequence.
  • The long overdue introduction of a sales tax to replace Business Rates applied to the high street. The failings of the current system and how it operates was spotlighted again by the voluntary return of Business Rate Relief by the large supermarket operators at the end of 2020.
  • Environmental matters and the drive for carbon neutrality will become increasingly prevalent in occupier and investor decision making and selection criteria.
  • Office take-up will bounce back over 2021. This is despite the adjustment employers will make to new ways of flexible working and how they use office space. Underpinning the upturn in demand is the importance businesses place on the office ecosystem for social, collaborative, wellbeing and creative purposes.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.




Latest news

Work begins on Huddersfield Blueprint project

A major Blueprint project will begin next week, as demolition work starts at Huddersfield’s Market Car Park. In order to carry out the works one...

Online courses explore storage, discharge and handling of bulk materials

The issues surrounding the safe handling and storage of bulk materials is examined during 2 on-line short courses; one looking at the difficulties encountered...

Development agreement signed for Sheffield Olympic Legacy Park masterplans

A development agreement has been signed for the 850,000 sq ft masterplan at Sheffield Olympic Legacy Park. A development agreement between Sheffield City Council and...

Brexit challenges threaten to slow Yorkshire & the Humber’s manufacturing comeback

Brexit issues are causing SME manufacturers in Yorkshire & the Humber significant disruption as they look to recover from the economic effects of COVID-19. The...

Event to explore low carbon investment in the Humber

Business leaders are being urged to join a high-profile event aimed at helping secure billions of pounds of investment to make the Humber a...

First phase of £5.5m Marrtree Business Park completes in Thirsk

Marrtree Investments has completed the first 40,000 sq ft, £3 million phase of its £5.5 million Marrtree Business Park at Thirsk. Tenants have already signed...

Related news

Work begins on Huddersfield Blueprint project

A major Blueprint project will begin next week, as demolition work starts at Huddersfield’s Market Car Park. In order to carry out the works one...

Online courses explore storage, discharge and handling of bulk materials

The issues surrounding the safe handling and storage of bulk materials is examined during 2 on-line short courses; one looking at the difficulties encountered...

Development agreement signed for Sheffield Olympic Legacy Park masterplans

A development agreement has been signed for the 850,000 sq ft masterplan at Sheffield Olympic Legacy Park. A development agreement between Sheffield City Council and...

Brexit challenges threaten to slow Yorkshire & the Humber’s manufacturing comeback

Brexit issues are causing SME manufacturers in Yorkshire & the Humber significant disruption as they look to recover from the economic effects of COVID-19. The...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close