East Midlands’s strong industrial sector will benefit from a reshoring of manufacturing due to supply issues during the virus crisis, says expert
The East Midlands property sector is set to benefit from changing demands caused by Covid-19, an expert has said.
The pandemic will lead to an increased need for warehousing, life sciences laboratories and data centres, as well as an accelerated relocation of offices from London to the regions, Matthew Smith, property consultancy JLL’s lead director for Nottingham has said.
Smith added that the East Midlands’ central location and lower costs means it is well placed to take advantage.
The region’s strong industrial sector will also see it benefit from a reshoring of manufacturing in response to supply issues experienced during the crisis, he said.
Major manufacturers and retailers will need to maintain larger amounts of buffer stock to avoid supply chain delays, and Brexit will influence this, said Smith.
Smith was speaking ahead of judging the East Midlands Property Awards, which marks its 20th anniversary this year.
The gala dinner takes place on 10 September at the De Vere East Midlands Conference Centre, Nottingham.
Companies and projects will compete across ten categories to be crowned the region’s real estate royalty. A Lifetime Achievement Award will also be given to a person who has made a major contribution to the sector. The deadline for entries is 26 June.
The event gives businesses the opportunity to showcase their achievements at a time when they face major challenges from the impact of the Covid-19 crisis. The projects being entered for these awards need to have been completed in the year to 30 April 2020.
