Following the news that the government has confirmed the route for the second phase of the high-speed rail line HS2, real estate experts from across the UK at Colliers International speak out about the implications of this new line for property:
Birmingham – the most exciting city in tomorrow’s Britain
Matt Long, director, at Colliers International Birmingham said: “The arrival of HS2 cements Birmingham as one of the most exciting places in which to live, work and play in tomorrow’s Britain. Birmingham has long suffered from under investment in its infrastructure, but it’s placement at the epicentre of three branches of the HS2 line, easily connecting it with the north and the capital, will significantly transform the city. We are already seeing a rise in the number of big corporates, such as HSBC, relocating operations outside of London, and today’s news will further encourage investors, occupiers and workers alike to consider Birmingham as a truly viable, and even preferable, option.”
Yorkshire – attracting international investment
Guy Gillifan, director at Colliers International in Leeds said: “The confirmation by the government of the route for HS2 north of Birmingham is very good news for business in the North of England and for the Sheffield city area in particular.
“HS2 is as much about increasing capacity and reliability on the North’s creaking rail infrastructure as it is about travel time savings. From a property perspective, HS2 is also an integral part of the renaissance of the North of England and form part of the Northern Powerhouse message, which is so successfully being delivered to investors, particularly those from abroad.”
Walter Boettcher, chief economist at Colliers International, said: “Given that Sheffield has attracted a recent Chinese commitment for substantial investment in regenerating the city centre, it would be madness for the HS2 route to bypass the centre. Transport hubs along the entire length of HS2 are key in progressing the regional development agenda. If ever there was a time for linked up thinking, it is now.”
Manchester – the momentum for major change continues
Andrew McFarlane, director and head of the North West offices at Colliers International in Manchester and Liverpool, said: “Connectivity and capacity are key drivers of the economic performance of the North of England and the multifarious benefits to be generated by HS2 will prove that as a region, we are indeed stronger when linked together. While cutting journey times is important, the Government’s commitment to double the number of trains running between the great cities of the North, the Midlands and the South to some 96 an hour, and to triple the number of seats to almost 15,000 an hour, will be truly transformational. Confirmation of the HS2 routes reveals that momentum for major change to revitalise the North over a generation or more continues to build but the next stop on the line has to be a cross-Pennine HS3 rail route linking Liverpool with Hull to ensure the region is fully interconnected.”