From around the middle of the 18th century through to the latter part of the 20th, Northern England and Wales were the industrial powerhouse of the country.
The challenges for British industry in the north of England, Wales and Scotland in the 1970s and 1980s, are well documented. They resulted in a significant decline in the areas’ industrial capabilities and infrastructures.
Recently, the UK government has launched a major initiative aimed at revitalising the North of England and Northern Wales.
The Northern Powerhouse Project
This is a vast initiative involving the injection of huge public sums into creating centres of commerce and industry in the north. It also includes major investment in things such as schooling and transport infrastructures.
- £3.4 billion in “growth deal” investment;
- £70 million in the “northern school strategy”;
- £13 billion on transport.
As part of this vast initiative, the government is also actively seeking further private investment.
Whenever a vast national economic project of this nature is undertaken, there are often associated high-return opportunities for private individuals and companies. In terms of starting a business in the area and seeking commercial property, that much may be assumed to be self-evident.
In terms of acquiring prestige residential property, prices in the north of England are typically considerably more attractive than those in the south. In terms of the rapidly growing transport and general amenities infrastructure, that may also be an attractive prospect for some.
The north also has space for expansion. Much of Southern England and even the South Midlands areas are now seen by many as being over-crowded. Much of the current highly-charged debate about many developments in the south of England is an indication of the population pressures involved.
With the exception of a few hot spots around for some major cities, in the north of England, land and development opportunities are more plentiful and business development far less controversial as a result. Experienced property finders can be more specific upon consultation.
These may all be very positive indications in terms of investing in the area commercially or for buying prestige residential properties through property finders.
Points to consider
Although international air services from the major northern airports are being expanded, at the moment, air connections for business from this vast area continue to be considerably more restricted than those in the southeast of England.
It may take some time for that to be addressed.
Similarly, for simple geographical reasons Northern England is always at a disadvantage in terms of connections to the Channel Tunnel (or ports) and thereby Europe. Although various high-speed train links should considerably improve the position once fully implemented.
A final point to note is that the entire road infrastructure in the UK is in need of substantial development and overhaul. In terms of access to export markets, that fact may continue to inhibit businesses in Northern England rather more than those in the south of the country.
In many respects, the Northern Powerhouse initiative appears to be an extremely positive development that will bring advantages both to the area and potentially to private investors and businesses.
True, there are some issues to be considered from a business investment viewpoint but they appear to be manageable and are more than offset by the opportunities arising.
This is an area that it might make sense to investigate further in conjunction with property finders if you are seeking investment opportunities.