UPSURGE IN LETTINGS INDICATE A STRONGER STOCKPORT ECONOMY

An upsurge in commercial lettings is an indication that Stockport’s economy is gaining strength and is at its best for over 5 years, according to Orbit Developments, Stockport’s largest commercial landlord.

Left: Regent House

Orbit reports it has already let 25,000 square feet of commercial property space in the first six months of this year across its portfolio of 12 town centre buildings, compared to an annual average lettings of 44,000 square feet over the past 5 years

Orbit are calling for commercial property agents to reappraise what the town has to offer. Orbit themselves brought in Olympic track star Kriss Akabusi to talk about the power of belief in a place.

Orbit’s growth in lettings coincides with the company’s commitment to the Town Centre; over the past 2 years the team at their flagship Regent House office complex have embarked on an effective campaign to change perceptions and shed a positive light on Stockport to attract new businesses, residents and visitors.

Orbit has invested over £40,000 in sponsorship and development of local events in the last two years, such as the Headlander Festival, the Life Leisure Stockport 10k Run, the Stockport Old Town Fringe Festival and the Stockport Business Awards.

Orbit Developments Managing Director, Tony Jones, said:

“We’re now seeing our investment in supporting events and activities in Stockport bearing fruit and benefitting the town. The We Are Stockport campaign and the planned introduction of the Stockport Business Improvement District (BID) scheme are creating momentum for the initiatives producing positive change in the town.

“Businesses in the town and, indeed those looking to relocate, can be assured that Stockport has all the elements required for economic success, which is great for the town, but also good news for the wider North West area.”

Interest in Orbit’s portfolio continues to gain momentum, recently attracting several high end software development businesses bringing in a new generation of IT professionals to the town and a number of UK head offices for international operations.

Orbit Development’s Leasing Manager, Rhys Owen, added:

“We know we needed to change people’s opinion of locating a business in Stockport, and over the last six months we have seen a clear shift in perceptions. The draw of Manchester city centre is understandable, but Stockport has everything a business needs to flourish and more. If we work together to showcase what is great about the town and the borough, we can make that positive change happen.”

The commercial lettings company has also invested heavily in its property portfolio, modernising office space, updating technology, including broadband connectivity, offering flexible spaces for businesses and introducing the SK One reward scheme for its customers.

Stockport has enjoyed an influx of positive initiatives recently: Stockport Old Town brand has assisted in increasing footfall in the historic areas of the town and community interest company Vision Stockport is aiming to create a more vibrant town centre.

The initiatives, along with Stockport BID, which has the potential to raise up to £400,000 per annum via a 1% levy on business rates, have seen significant progress made on major infrastructure projects.

Left: CDL’s new Code Works

Investment in Stockport’s commercial infrastructure is resulting in high profile businesses committing to the region.

Software company CDL’s expansion into a cutting edge office in the town created 50 new jobs, while independent brewers Robinsons has invested over £12 million in refurbishing its portfolio of pubs and a new visitors’ centre and restaurant.

The 400,000 square feet Stockport Exchange project is underway, and work has also started on the £363 million improvements to Stockport’s transport infrastructure, while the £42 million Stockport Interchange is set to connect the region’s transport networks.