Southampton: CBRE briefing looks at South Coast devolution

At CBRE’s annual property market insight briefing, keynote speaker Sir Michael Lyons highlighted the opportunities and challenges facing the region in the build up to the proposed South Coast devolution.

Andrew Marston, CBRE research director, then reviewed the Brexit political and economic backdrop.

Lyons focused on the benefits devolution could bring to the South Coast, highlighting four key planning factors: the importance of civic leadership and a coherent vision, the need to nurture talent and provide training in regional growth sectors, the need to ensure quality of life and stewardship of place, and the essential need for accessibility with transport links both within and between urban areas.

He also stressed the importance of ensuring that the rural hinterland and urban fringes should not be ignored as these provide the talents and entrepreneurial skills which are needed to make devolution work. He listed among the region’s strengths its good public/private partnerships, its three excellent universities which are properly focused on regional needs and its investment in innovation centres, many of which are already fully occupied.

James Brounger, CBRE regional managing director, commented: “Sir Michael Lyons’ insight on the long term benefits and positive impact devolution could have on the region as a whole was well received.”

With the effects of the Brexit result still to be assessed, Marston overviewed the real-estate market for the first half of 2016. He stressed the way that markets maintained their momentum in the period leading up to the referendum, with leasing activity in both office and industrial markets strong, especially in the logistics and distribution-warehouse sector which has continues to be driven by the rapid changes associated with the growth of online retailing.