Chinese investment set to boost business and property in the West
News of Chinese investment providing funding for a new nuclear power station at Hinkley Point, Somerset will be a boost to business and property transactions within a 50-mile radius of Bridgwater say property specialists Bruton Knowles.
The construction of Hinkley Point C will create thousands of jobs but the announcement that China General Nuclear Corporation and China National Nuclear Corporation are supporting EDF has implications beyond the immediate project.
Paul Matthews, Head of Bruton Knowles Bristol office comments: “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.
“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.”
Those involved in property from developers with major land holdings to small-scale landlords will receive a boost from the announcement.