David Mace, regional senior director of Bristol based property adviser GVA, comments on the Chancellor’s Autumn Statement, in particular on the news for Bristol that funding is secured for the Bus Rapid Transit Scheme, and the South Bristol Link.
“This is fantastic news for South Bristol and will be a major shot in the arm towards attracting new business, investment and employment. The completion of “the missing link” of the Avon Ring Road has been debated for years since the first section was completed in the mid 1990’s.
“This should go some way towards closing the gap between the current north-south divide and help boost property values in the longer term.
“The proposed linking of the Long Ashton bypass to Bedminster Down will no doubt strengthen the case for the release of further housing and employment land at Ashton Vale.
“On a wider scale, the £5 billion to fund 500 new infrastructure projects, plus a further £1 billion investment from Network Rail is fundamental to strengthening the UK economy.
“I am pleased that the Chancellor has been able to agree a Memorandum of Understanding with UK pension funds to secure their support for additional investment in UK infrastructure. The sum of £20 billion referenced in the Statement is significant, and importantly the infrastructure schemes identified are linked to prospective wider investment opportunities, which should enable potential growth impacts to be multiplied.”
