Property moguls hail Northern Powerhouse concept

MORE than 150 property experts have taken part in the M60 Northern Powerhouse event, hosted by Heath Thomas, NatWest’s head of real estate in Greater Manchester and Lancashire.

The event organised in partnership with Irwin Michell focused on the impact the Northern Powerhouse would have on Manchester and the M60 regrion.

Tom Sharman, head of research and strategy for NatWest, has recently published a report on the subject.

He said: “The establishment of an economic powerhouse in the North of England will require collaboration, innovation and investment in infrastructure but its impact on the real estate sector could be significant.

“If the North of England were to fully exploit the potential it could re-emerge as a centre of the new technological era, creating better opportunities, more robust economic growth and an improved standard of living.”

Eamonn Boylan, chief executive Stockport Council, also spoke on the Northern Powerhouse in the context of the devolution agenda in Greater Manchester and across the northern cities.
 
Irwin Mitchell recently published the results from its latest UK Powerhouse City Tracker which revealed that growth within Greater Manchester’s economy slowed in the last quarter of 2015, but that over the next 10 years, the city will remain the dominant player in the Northern Powerhouse.
 
Dean Gormley partner and head of banking and finance, Manchester at Irwin Mitchell also spoke during the event.
 
He said: “Our recent UK Powerhouse quarterly tracker highlighted that Greater Manchester’s economy slowed slightly in the last three months of 2015, however it also revealed that output here outpaced that of Inner London.
 
“The opportunities that present themselves from the Northern Powerhouse are considerable for the city’s economy and of course the real estate sector, but it’s crucial everything is done to ensure that the idea becomes a reality.”
 
Thomas said: “Without question the Northern Powerhouse will have a significant impact on the M60 region and its property market both commercial and residential.

“The number of professionals from across the region who attended the event is a testament to this. We thank Tom and Eamon for speaking during the event and all who attended, and also thank Irwin Mitchell for their support.”

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