Pictured above: David Binks
The creation of 'enterprise zones' in Birmingham and Solihull
and in the Black Country will bring huge benefits to the property
sector, it is claimed.
Birmingham-based Cushman & Wakefield says the two zones -
announced during last week's Budget - should lead to a boost for
commercial property in the areas they are set up in.
This will be as a result of the anticipated generous treatment
of business rates within the zones, and also the expected
simplification of the planning system.
David Binks, industrial partner at Cushman & Wakefield,
said: "These locations will be an awful lot more attractive to
companies who want to set up there.
"They will also attract developers into the area, because of the
expected increase in demand for property in the locations."
Mr Binks said previous vehicles to encourage business growth and
regeneration in Birmingham and the Black Country - the Black
Country Development Corporation and the Heartlands Development
Corporation had done an excellent job of transforming the two areas
they were responsible for.
He added that BCDC and HDA had opened up the previously hard to
access Black Country and east Birmingham, with major road schemes
such as the Black Country and Heartlands Spine Roads.
He said: "We probably won't see that level of activity, but we
may see the removal of red tape and other kinds of help."
As yet, it is not known precisely where the two enterprise zones
will be, but Mr Binks said that they would be in areas targeted for
significant regeneration, such as Chelmsley Wood in north
Solihull.