Battle of the engines: arc is most active
The Cambridge-Milton Keynes-Oxford arc has seen a greater density of planning activity over the last three years than the UK’s other growth engines, according to research from Radius Data Exchange.
Looking at commercial permissions in the office, retail and industrial sectors between 2016 and 2018, the arc accounts for roughly 52.5m sq ft of consents, while the Northern Powerhouse and Midlands Engine have seen 94.2m sq ft and 87.1m sq ft respectively.
However, given that the arc is substantially smaller than the other growth engines, it comes out on top in terms of permissions by density, with 18,100 sq ft permitted per square mile. This is against figures of 9,400 sq ft for the Midlands Engine, and 16,500 for the Northern Powerhouse.
The Cambridge-Milton Keynes-Oxford arc has seen a greater density of planning activity over the last three years than the UK’s other growth engines, according to research from Radius Data Exchange.
Looking at commercial permissions in the office, retail and industrial sectors between 2016 and 2018, the arc accounts for roughly 52.5m sq ft of consents, while the Northern Powerhouse and Midlands Engine have seen 94.2m sq ft and 87.1m sq ft respectively.
However, given that the arc is substantially smaller than the other growth engines, it comes out on top in terms of permissions by density, with 18,100 sq ft permitted per square mile. This is against figures of 9,400 sq ft for the Midlands Engine, and 16,500 for the Northern Powerhouse.
Development hub
Looking at the data by property sector, the arc has been the hub of new proposals for research and development space over that three-year period – with a 51% share of all R&D permissions coming across the region.
Industrial permissions, meanwhile, have been concentrated in the Midlands Engine, which commands a 41% share across these three engines.
The Northern Powerhouse is responsible for the greatest share of office and retail space, commanding nearly 50% of the recent permissions in both of those sectors.
New hotbed
The arc is also a hotbed of residential development in proportionate terms, with 120,000 homes gaining permission in the last three years in projects comprising at least 10 units.
This represents a residential development density of 32 new homes per square mile – higher than both the other growth engines, which each saw roughly 189,000 units come through planning in the three-year period analysed.
This rate of permitted units indicates appetite for residential development is accelerating faster in the arc than in the other two engines. Government data indicates net additions of 15,600 units per annum is typical for the combined local authorities within the arc, with the Midlands Engine reaching 31,500 units, and Northern Powerhouse showing 29,300 annually.
Huge progress
This analysis shows the three-year period has actually generated more than seven years of net additional housing at the current rates of completion across the Cambridge-Milton Keynes-Oxford arc, against shallower comparable figures in the other engines.
