The decision by the Government to go ahead with the £18 billion Hinkley Point C reactor will bring an end to years of damaging uncertainty surrounding the project and will provide a significant boost to the economy in the south west, according to Tim Davies, head of the Bristol office of commercial property specialist Colliers International.
He said: “Ever since Hinkley Point C was identified as one of a new generation of nuclear power stations in 2008 there has been uncertainty about whether it would go ahead. Now a decision has been made, ending nearly a decade of delays and anxieties that reached a pitch recently following the government’s unexpected last minute review of the project.
“Irrespective of whether you agree with nuclear power, the commercial benefits that the development will bring to the region cannot be underestimated.
“What is needed now is for work at Hinkley Point C to get underway as soon as possible, as this will unlock extensive opportunities along the massive supply chain required, and will benefit sectors including construction, industrial, offices and hospitality.
“Construction of Hinkley Point C is expected to bring 25,000 employment opportunities, and local and regional investment including £16m in roads and infrastructure. This will inevitably boost confidence and values and bring momentum to the ‘West Country powerhouse’ and give a massive economic boost for the South West, which is already the stand out region outside London and the South East.”
