Oxfordshire demonstrates strong growth says Chief Executive of Oxfordshire Local Enterprise Partnership
PUBLISHED: 11:02 28 November 2014 | UPDATED: 11:02 28 November 2014
Nigel Tipple, Chief Executive of Oxfordshire Local Enterprise Partnership (OxLEP), spoke to a group of property professionals at the Autumn Oxford Real Estate Network event about the LEP's strategic position and an overview of the future challenges facing the local property and wider professional markets.
Held at lunchtime at the Cotswold Lodge Hotel, Banbury Road, Oxford on Thursday 13th November, the occasion was the Autumn Quarterly Oxford Real Estate Network event. Kevin Wood, Lambert Smith Hampton’s Office Agency Director, explains: “The Oxford Real Estate Network is a partnership of Lambert Smith Hampton, Grant Thornton UK LLP, Henmans Freeth LLP and HSBC and it holds quarterly events for property professionals working in and around Oxford. The events are a great opportunity to network with fellow property professionals from within banks, solicitors, accountants, developers and occupiers with a focus on the Oxfordshire property market.”
The key points he raised were…
1) Oxfordshire has seen a 10% population growth in the past decade. Looking forward, 106,000 new homes are forecast together with 85,000 new jobs to support Oxfordshire’s growing economy by 2030. There are a substantial number of new homes already approved, constrained by a lack of infrastructure. OxLEP is working with local authority partners to secure delivery of the homes required. “Growth is not a bad thing” said Mr Tipple, but he added that employment and housing must go hand in hand in order to achieve it in a balanced and sustainable way.
2) The next 6 - 12 months will be instrumental in strategically planning the county’s growth, as local authorities publish their plans. OxLEP is working with local authority partners to ensure that plans complement each other to support the scale of growth forecast for Oxfordshire.
3) The delivery of infrastructure is a key priority for OxLEP, and projects are currently underway at Kennington andFriedswide Square. Other projects being developed include the A40 link from Witney and the A34, which is a major arterial route between Southampton and the Midlands, providing Oxfordshire business with access to local and international markets.
Mr Tipple also claimed that despite recent press coverage, Oxford continues to outperform Cambridge in terms of GVA/capita and is well above the national average. Cambridge has benefitted from strong growth in recent years and PR messaging through Cambridge Ahead, a private sector led support group. If Oxfordshire wishes to remain competitive, greater co-operation between its many local partners will be required.
For more information or to attend the next Oxford Real Estate Network event, please contact Kevin Wood, 01865 200244, firstname.lastname@example.org
Lambert Smith Hampton (LSH) is a national commercial property consultancy. We work with investors, developers and occupiers across the public and private sectors, and we are single-mindedly focused on UK and Irish property markets. For more information, and to see some of the companies we work with, please visit our website at www.lsh.co.uk.
The Oxfordshire Local Enterprise Partnership (OxLEP), formally launched by the Business Minister, Mark Prisk MP, in March 2011, is responsible for championing and developing the Oxfordshire economy. Working with businesses, academia and the public sector OxLEP is driving economic development across the county. Key priorities are people, places, enterprise and connectivity. For more information, please contact www.oxfordshirelep.com, 01865 261433.