East Midlands faces premises crisis  

Leicester market-food-hall-

According to a survey, almost a third of Leicestershire’s businesses will need to move to new premises within the next two years…reports Asian Lite news

Leicester market-food-hall-
Leicester market-food-hall-

The East Midlands Chamber found that “Leicestershire was the county in which more people felt they would need to leave their local authority area”.

The first quarter of 2015 marked two years of businesses reporting growth in the chamber’s Quarterly Economic Survey, with the East Midlands one of the fastest growing in the UK, according to national data.

Scott Knowles, chief executive of the East Midlands Chamber, told Leicester Mercury, “Businesses in the East Midlands have played a significant role in driving the economy away from recession, through recovery and into growth over the past five years.

“In recognition of this, Chancellor George Osborne recently stated his ambition to promote the entire Midlands region as the UK’s ‘Engine for Growth’.

“However, it is clear that while there are many businesses in the region that are striving for growth, their ambitions to expand risk being hampered by a dearth of new premises.

“Unaddressed, a lack of suitable premises has the potential to undermine the region’s position as a driver of UK growth.”

Kamal Dhutia, a director of family owned BI Group, inormed Leicester Mercury: “We are moving from 15,000 sq ft to 30,000 sq ft. We simply couldn’t find any industrial premises of that size in Leicester.”

Mr Knowles says it is “incumbent on all parties involved in these discussions – local authorities, landowners, developers and the business community – to work together to ensure the needs of the region’s growing businesses are understood and that measures can be implemented to provide for the demands that this growth is creating”.

Leicestershire’s commercial property agents are equally concerned about the lack of quality office and industrial buildings.

A new Leicester and Leicestershire Employment Land Review is set to be published in about six months.

Its purpose, among other things, is to provide forecasts for demand for office, industrial and warehousing development land within Leicestershire.

It will also give an update on the supply side and seek to identify the gaps in the market.

It will also make recommendations on the potential phasing of sites, allocation of sites and potential measures to bring forward development.