The much-vaunted eastern promise of the M11 corridor has yet to be fully realised, according to a report commissioned by agents Derrick Wade & Waters.
But, “the corridor looks to have a bright future and is indeed spreading both north and south”, the report says.
The research is an update of a study carried out three years ago, which looked at the growth potential of a strip of land extending roughly 10 miles on either side of the M11.
At the time, the report concluded that the area looked bright in terms of development opportunities. Moreover, a survey of institutions revealed that they rated the potential for rental growth in this area more highly than along the M4 or the M3.
The new study concludes that the M11 corridor’s promise “is continuing to be fulfilled”. In the Cambridge area, high-technology firms and employment are continuing to expand; indeed, the report claims that there is a growing lack of adequate and affordable premises, and firms are leaving for places to the north and west.
Similarly, the Stansted area is likely to boom when — and if — the airport is expanded to become London’s third. And, with some qualifications, the report also concludes that London’s Docklands is prospering.
As an indication of the property response, the rise in land prices in the western corridor town of Bracknell is contrasted with those in an eastern corridor counterpart, Harlow.
In Bracknell, industrial sites have risen by 60% over three years, to £1m per acre, those in Harlow have increased by 400%, to £565,000-£725,000 per acre.
