While energy firm EDF is trying to build a supply chain principally within Somerset, the impact of Hinkley Point C will be felt far beyond the county.
Following the announcement, James Durie, executive director of Business West, described it as a “massive boost for Bristol and the South West”.
He said: “Businesses in our region will be a vital part of the supply chain opportunities on offer for this £16 billion project, with the possibility that it could create up to 25,000 jobs.
With a project of this magnitude and its long-term timescale many construction organisations are already on board and benefiting but the impact of this will be felt far and wide beyond the construction industry.” The commercial property market is one of those areas set to feel the uplift as the size of the investment brings new companies into the area.
We continue to see strong growth and low inflation.The rise of internet retail will only drive this further, as businesses compete to deliver next day or same day to meet customer demand.Tim Davies, head of Colliers International’s Bristol office, said most activity in the region’s industrial sector has been design and build initiatives over the last few years.In short to medium term, the thing that holds the market back could be supply.Chris Grazier of Hartnell Taylor Cook LLP, joint letting agent with CBRE on the TSB deal, said: “Keypoint is a prominent office building overlooking the M4/M5 interchange and its letting reflects the significant presence TSB has in the Bristol community.The region’s commercial property market could be about to go nuclear.