Over 100 top professionals in the Hampshire region gathered at the Chilworth Manor Hotel for Jones Lang LaSalle’s 16th annual South Coast Metropole Presentation, the first since the merger with King Sturge earlier in the summer.
The event saw Head of Jones Lang LaSalle’s Southampton office Michael Green and Head of Research Dr Angus McIntosh provide a detailed analysis of the property sector in the Metropole region, against the backdrop of current global uncertainties.
Michael Green said: “The world is a hugely uncertain place at present, with significant concerns about a massive debt crisis, uncertainties in the Euro-zone and the US looking worryingly close to a double-dip recession. This is affecting confidence across the UK, as businesses struggle in a market where growth is painfully slow.
However, the south coast is performing much better than the rest of the UK at the moment, buoyed up by a significant recovery in central London commercial and residential markets, which is having a “ripple effect” across the whole of the south-east”.
Angus McIntosh went on to confirm that the south had many of the key ingredients to secure a sustainable recovery – excellent communications, good universities, a broad employment base and a flourishing port. Investors have been targeting the region over the last two years and interest in new regeneration projects have been encouraging.
Michael Green concluded that it was extremely encouraging to see Southampton City Council engaging in a meaningful way with the private property sector – which is the only way that large-scale complex schemes can be brought to fruition. He cited in particular the imminent redevelopment of the former Tyrell & Green site by Grosvenor, and the emerging City Centre Action Plan, which had some very exciting proposals for the area directly south of the Railway Station linking into West Quay and ultimately to the waterfront.
A copy of this year’s South Coast Metropole Report can be obtained from Jones Lang LaSalle’s Southampton office or downloaded from http://viewer.zmags.com/publication/2abcdaa8
