Coventry is perfectly placed to weather a potential Brexit storm – but needs to find more employment land for companies to grow. That’s the view of property expert Peter Holt, Director of D&P Holt, which serves the Coventry, Warwickshire and West Midlands area.
Over the past 12 months, D&P Holt has been involved with deals of more than one million square feet of commercial space across the region as well as 30 acres of land, and Peter has added his weight to the argument that Coventry – and Warwickshire – needs more employment land and property to meet the growing needs of businesses to expand.
He said: “It’s been a challenging year but very positive for us as a business despite the uncertainty that Brexit has brought. With continued volatility in Europe it will be interesting to see how both Europe and the UK fair in 2017. Notably, The City Tracker Report, prepared by Irwin Mitchell, ranked Coventry as the fifth fastest-growing city economy in the country. The strength of motor vehicle manufacturing has helped drive this growth and will continue to do so.
The question now is what do we expect in 2017?
With the lack of good quality office and industrial space available, both rents and prices are likely to see a gentle upward trend in this area. Jaguar Land Rover continue to go from strength to strength, which is great for Coventry and the supply chain, but the lack of employment land in and around the city must be addressed to ensure that future growth is not stifled.
This will require all parties in both local government and industry to work together to a common end and although we expect uncertainly both in the UK and internationally to continue, Coventry is well placed to weather the potential Brexit storm if we get this right.”
Photo : Peter Holt