Enterprise M3 launches its Commercial Property Market Study on 26 April. This ground breaking study, prepared for the LEP by its Land & Property Action Group, is a major analysis of employment land (sites and premises) across the Enterprise M3 area and is aimed at helping the LEP get a clearer understanding of the characteristics of the commercial property market in the M3 corridor.
It will help improve understanding of the characteristics of the commercial property market in the wider M3 corridor, against the LEP’s strategic plans for growth and the Government’s new permitted development rights for change of use from commercial to residential premises. The study highlights that the Enterprise M3 area has excellent potential for economic growth, with plenty of good quality office accommodation available to satisfy the requirements of companies wishing to expand, and to attract businesses into the area. It also underlines the challenges faced in different parts of the area: some locations have a good choice of premises and sites with healthy demand, while in others there is more of a need to stimulate demand for the property available. A unique collaboration between members of the property and development industries and public sector policy makers, this study will facilitate the debate about local priorities where market segments and gaps need to be addressed. In turn, the debate will help to form the LEP’s strategy, including how it might allocate Government funding that is earmarked for stimulating economic growth.