High investor confidence and huge infrastructure projects are helping to position Wakefield as one of the UK’s ‘cities on the rise’, according to David Cran, Managing Director of Bradley Hall Yorkshire…
Buoyed by high investor confidence, its skilled workforce and a business community like no other, Wakefield seems to have stumbled upon the recipe for the perfect economic cocktail in recent years.
A year to the day since the launch of Wakefield Council’s Local Area Plan, which aims to bring forward 1,544 acres of employment land - the equivalent to over a thousand football pitches in size – city chiefs are already reaping the fruits of their labour.
Devised to bring to market more high quality industrial and office space, as well as housing, open spaces and leisure developments, the plan is already helping the city capitalise on its skilled workforce and its unique position ‘at the heart of the UK’ with easy access to the A1.
Nowhere is this more evident than the city’s industrial sector. Wakefield has established itself as a key destination for businesses in the logistics and warehousing industries over recent years and the national shortage of high-quality industrial space has provided a major boost to the city.
In fact, in the last 12 months alone, we have seen Amazon open a new 500,000sq ft fulfilment centre just off Newmarket Lane, creating 1,200 permanent jobs; PHOENIX Group open a purpose-built 260,000sq ft distribution centre at Wakefield Hub, one of the largest regeneration projects of its kind in the North of England, and Easy Bathrooms relocate to its new 331,000sq ft HQ and national distribution centre at Calder Park.
Add to that proposed developments such as Mountpark Ferrybridge, a 1.64 million sq ft industrial and logistics campus at the former Coal Yard site at Ferrybridge Power Station, Silkwood Park, Havertop Lane and the continued expansion of the Wakefield Hub, and it’s easy to see why Wakefield is fast establishing itself as a real hotspot for businesses seeking to easily distribute their products across the UK and beyond.
Manufacturing in Wakefield is also a real boom sector, with a whole host of businesses specialising in the production of goods such as textiles, chemicals, and engineering components, from Burberry to Coca Cola, basing themselves out of the city.
And it’s not just the heavy industries that are thriving. The city’s cultural offering is also benefiting from millions of pounds of investment, with Wakefield’s former market hall undergoing a £7.7million revamp to become the ‘Wakefield Exchange’, a new events space, and phase two of the ambitious Tileyard North project now underway.
The Wakefield Waterfront development, too, includes plans for new homes, offices, and retail spaces, as well as a new public park and improved transport links. Upon completion, city chiefs are confident it will create thousands of new jobs and generate millions of pounds in GVA for the city.
Another exciting development is the Wakefield Civic Quarter project, which aims to revitalise the city's historic centre. The ambitious project includes plans for new offices, leisure facilities, and public spaces, as well as a new cultural quarter featuring a new home for Wakefield's Theatre Royal.
The professional services sector is also another of the city’s core sectors, which echoes the strong demand for city office space over recent years. The city is home to a range of businesses providing legal, financial, and other consultancy services. Companies relocating to Wakefield benefit from its proximity to major cities such as Leeds and Manchester, which allows them to serve clients across the North of England and tap into its rich talent pool.
While the wider UK economy may be clouded with economic uncertainty, Wakefield as a city is continuing to buck industry trends across the board, and this is no more so evident than when it comes to property. Year-on-year we’re seeing enquiries and demand rise, which is testament to the city’s resurgence.
Over recent years, Wakefield has sent a clear message to the world that it is a city that means business, and if recent events and economic signs are anything to go by, it would seem that the world has certainly received the message loud and clear.
