The "Development Cycle"
No it’s not a new product from the Chris Boardman range of bicycles but rather the term used by many people in the property industry to describe the ‘lifecycle’ or the trends for new property development.
The Development Cycle is one you can attach and use to describe and analyse various sectors:- residential, retail, industrial, healthcare – you name it.
The relevance to us in the current market is that after so long with little or no development activity in pretty much any sector aside from a slimmed down housebuilding sector, there is now wider evidence of the development sector springing back into life.
For us at Harris Lamb we are now seeing new build activity in something more than an isolated deal or two.
In the last 12 months we have been central to new build schemes that has current projects on site that includes Vax’s new warehouse in Droitwich of 250,000 sq. ft., Bibby’s new warehouse in Stone of 150,000 sq. ft. and Freeman Group’s new 200,000 sq. ft. facility at Ryton in Coventry. There are more new build projects in the pipeline too.
The reasons for the return of development activity after such an extended period of dormancy can easily be attributed to the improving economy, obvious isn’t it? Well yes, but the fuel for a development cycle can be traced to other factors too:- obsolescence in existing buildings; lack of alternative buildings, lease events and Government legislation.
One thing is certain, we at Harris Lamb are negotiating and advising a growing number of clients on their new build projects.
If you need any help on a property move and new build contact me or one of the agency team at Harris Lamb.