The announcement that Chinese investors will be funding a new nuclear power station at Hinkley Point in Somerset will provide a boost to the West Country property sector, according to an industry professional.
“This is the announcement everyone has been waiting for. To a certain extent there has been evidence of businesses treading water over the last few years waiting for this funding to drop into place,” said Paul Matthews (pictured), Head of Bruton Knowles Bristol office.
“Hinkley C requires a big supply chain and there are sub-contractors that will now be able to look forward with confidence and start investing. The impact on the property market will be colossal over a wide area.
“Some of those involved in the construction will need to be physically close to the site and they have been looking at options on properties for some time. This announcement now means those deals will progress.
“But others, such as Quantity Surveyors, engineers and other technical support will look to take offices around Bristol, so that will have an effect on the office market.
“In truth Hinkley C will have a major effect on offices, industrial, retail and hotel accommodation within 50 miles of the site. There will also be a need to provide an infrastructure for the thousands of people that will be involved.
“Hinkley C is a major national infrastructure project as it goes a long way to securing Britain’s energy. The fact that so much money from China is coming into the region will also help the region’s connections with that economy.”
Multiple players, from property developers with large land holdings, to small scale landlords will all benefit from this announcement, Bruton Knowles concludes.
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