BCO 2012: Smaller cities are turning away investment because of a lack of available office stock, according to Andrew Carter, director of policy at Centre for Cities.
Carter told delegates there was a clear “mismatch” between developers’ appetite for investing in large urban connurbations and opportunities in smaller cities.
“Our smaller cities are important individually and collectively to the UK economy,” said Carter, who has been working on a research project with the BCO looking at the drivers for recovery.
Pointing to Brighton and Milton Keynes as examples of “dynamic” cities, he said: “York and Cambridge are turning away businesses who want to come to their city because they don’t have the office stock available today. Smaller cities are turning away economic growth opportunities.”
Damian.wild@estatesgazette.com
