Chartered surveyors Bulleys have hailed a double boost for the Black Country industrial property market.
Bulleys partner Noel Muscutt says Black Country “sheds” are increasingly in demand.
The region is benefitting from a surge in interest as London investors seek solid returns and better yields than they can achieve in the over-heated property market in the south east.
And the early economic ripples from HS2 are also adding to the Black Country’s attraction.
He said: “Even though it seems a long way off still the HS2 effect is already here.
“Businesses that will be affected by the route of the track and all the infrastructure currently under design in Birmingham know that they face moving in the not too distant future.
“This is causing some businesses to look further afield as they can’t find comparably priced industrial premises in the immediate vicinity.
“But they don’t to move to far from their Midlands base due to supplier pipelines and in order to retain key staff.
“The Black Country is increasingly proving the answer, both for Birmingham businesses looking to relocate but stay close to ‘home’ and also investors from the south east, seeking stronger returns than they can achieve in their region.”
He added: “The HS2 effect should not be underestimated. It’s not just about a high speed rail link to the capital and to the north. The economic impact will be felt all across the region.
“There has always been a trickle of London investment into the Black Country, but with the south east market so hot, we are seeing the inquiries coming through and are very keen to encourage the trend.
“The Black Country was built on industry and it is great to see that coming to the fore once more.”
